Introduction: Why I'm Avoiding X (formerly Twitter)
First, I'd like to thank the key opinion leaders in the crypto space for recently reposting my content. While I do have an X account, I'm not planning to seriously operate on it. This is a deliberate decision, not just a whim.
Understanding the Web3 KOL Monetization Logic
From a KOL's (Key Opinion Leader) perspective, making money from content alone is extremely difficult. Very few, like Liu Jiaolian, can survive purely through content subscriptions. Participants in this space can be broadly categorized into two groups:
1. Crypto Trading Users
This group doesn't pay for 'content' but for 'access.' They often post screenshots of high ROI on X or other platforms, teaching others how to trade. This isn't content marketing; it's using ROI screenshots to attract traffic, then converting and exploiting it.
2. Web3 Users
These might be practitioners, founders, or individuals with comprehensive ideas about Web3 and willing to think deeply. They are willing to pay for high-quality content, but they represent a very small percentage of total crypto traffic. After removing fake traffic, I estimate this group to be less than 20%. More importantly, they share a common trait: they think for themselves. The more people think for themselves, the harder it is to entice them with money through simple marketing tactics.
Common Monetization Methods for KOLs: Promotion
Besides content payments, KOLs often make money through various promotions, from one-time soft ads to joint promotional campaigns with KOL agencies. The essence of it all is serving the client. In most industries, this business logic is reasonable and legal. But this is crypto—a place where 'fraud' can be disguised as 'narrative.' I personally am not willing to take on too much uncertain legal and ethical risk for money, nor do I want to end up 'in a foreign country' because of some promotions. That's why, over the years, I've basically not participated in these promotions. To be realistic, these promotions are also not guaranteed to make a profit; there's a good chance of falling into traps and losing money.
My Experience in Production-Research Related Incubations and Services
In the past two years, my main energy has been focused on production-research related incubations and services. Here are some of my personal experiences in this regard. They are very subjective, and may be completely different from your understanding. If you disagree, that's perfectly normal, because everyone's path is different.
Experience 1: To Make Money, Use 'Reverse Thinking'
As half a product manager, I've seen a very common pattern in work and collaboration: most people's starting point is: 'I have a great idea → turn the idea into a product or service → then find users, sell it, and scale it.' From the perspective of 'product methodology,' there's plenty to discuss. But purely from the perspective of 'making money,' I'm more inclined to use reverse thinking: first think clearly: who do I want to make money from? → then design products and services around these 'people willing to pay,' rather than making things first and then finding users everywhere.
Experience 2: First Think Clearly About 'Sunk Costs'
In the race to make money, 'ideas' are the least valuable assets. Everyone has their own ideas and ways to make money. Others are likely to be able to think of an idea you can think of, even think of it sooner and more maturely. So the question is: with everyone having ideas, what should you rely on to break through? The answer is: execution. Ideas are always constrained by execution. There are many people with ideas, but only one in ten people has an idea and actually does it. The majority of people stop at 'watching others make money' and back down once they start doing it themselves.
Conclusion
If you're considering how to make money, start a business, or transition in this industry, I hope you remember at least two things: Find the 'buyers' first, then make a product. Don't rely on fishing for 'stray fish' from public traffic; that's the game of KOLs and agencies, not ordinary people. Calculate 'sunk costs' first, then talk about execution and creativity. Costs you can't afford are an illusion, no matter how beautiful the idea.
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