This is a relatively young niche, so what are the opportunities for content-based businesses in cryptocurrency and blockchain?
This is a space which has grown very quickly in the last few years – and I think the momentum will continue to increase.
As fiat currencies become more shaky, you will have more and more interest in cryptocurrency as a financial vehicle. On top of that, blockchain is a fast growing sector.
Evidence of this can, of course, be seen in the blogs that talk about this stuff. Several large blogs have cropped up that cover this market very well such as CoinTelegraph, Bitcoin News, News BTC and many others. You have also seen quite a few folks who have built up nice Youtube channels in this space such as CryptoBobby, Crypt0, and others.
So, does this mean there is room for another crypto blog or another video channel? Absolutely, however you want to make sure you go into it with a good game plan.
Some of the guys are making good money with ads. Others are using the community support model through something like Patreon or even crypto donations. I would imagine some of these people have done pretty well for themselves because they had some first-mover advantage on the space, plus the inflating value of the crypto they were given by the communities has probably turned into a nice chunk of change.
Ads and donation models are always a way to go, however my interest here at BMA is always more about direct revenue models.
Gaps & Opportunities
This is still a young sector, but it is growing quickly. There’s a lot of enthusiasm in the space, in general. So, you’ve got a two-fold situation here:
- In some ways, you’re going to likely find this niche to be somewhat easy to grow. There are a lot of companies looking for coverage, so you’re likely to get people reaching out to you. Also, because there’s a lot of enthusiasm and the market isn’t so jaded, you can likely build up a community faster and easier than in some others.
- At the same time, you can’t put out junk and expect to make much of a dent. While some of the names and brands in the space are young, they do pretty good work.
Some of the opportunities I see are:
- Investment advice and service, backed by research and experience. Youtube and blogs are full of crypto fans giving out their predictions, but a lot of it is just guesswork. Even if they ty to back it up with fancy jargon about patterns in the charts, it is still just fancy guesswork. But, if you have actual experience in investing, know the ropes, and do the research to take these complicated topics and make them simple for “normal people”, I think there’s room for training courses or recurring subscriptions. One such service is Palm Beach Confidential. It uses high-end pricing, but Teeka Tawari sends out short weekly update videos as well as a fully research monthly newsletter which includes his investment advice and usually a full profile of some coin that he has researched and vetted.
- Taking a page from Palm Beach Confidential with their premium newsletter, I think there is room in this space for new ones. This is a fast moving space and can be confusing to investors. Take on the role of curator where you watch the space and digest it and bring the important stuff to the attention of your subscribers via email. And you can charge money for that email newsletter on a recurring basis.
- Take that same business model, but apply it to the world of blockchain. A lot of companies are going to be looking at the world of blockchain to solve constraints in their business. It will seem complicated to them. So, let’s remember that while cryptos is fun as an investment medium, there’s a lot of business and industrial applications to blockchain technology and we’re still in the early days of being able to start up blogs and publications for this growing market.
- Online training on issues such as tax law for crypto investors. It is likely to be confusing for awhile, so people who can make it simple will have value in the marketplace.
There are, of course, opportunities in terms of apps, web-based services and the like. But, since our focus here at BMA is on blogging and content-based businesses, that’s what I’m covering here. The space is maturing fast, however it is a young market in the scheme of things.