Nostr, the decentralized communications protocol, offers an inclusive alternative to legacy social media platforms. With its growth of 29 million accounts and over $3 million (135 BTCBTC) in transactions so far this year, Nostr provides a platform where creators can monetize their content without subscription-based models and brand partnerships.
From Likes To Money: Making Every Post Count
On Nostr, I make money nearly every day by posting pictures of my dog and I have 1500 followers. I’ve posted pictures of him on Instagram, and although he gets a lot of likes, he’s never brought home a single cent.
Now, I’m not saying this is life-changing amounts of money, but since joining Nostr, it’s become clear to me that I’d rather make a few cents on a post than nothing at all. In fact, when I shared that thought on Nostr, eight of my followers collectively sent me 2000 sats, equivalent to a delightful 50 cents. Bitcoin’s divisibility into tiny units called ‘sats’ enables such microtransactions, turning fractions of a cent into tangible value.
Nostr enables users to receive direct contributions (usually sats) from their followers through ‘Zaps,’ microtransactions powered by the bitcoin scaling solution called the Lightning Network. Zaps are instant, nearly fee-free, and accessible globally.
Throughout the day, my preferred Nostr app, ZBD, keeps me in the loop with constant notifications. I’m pleasantly surprised to see my ‘sats’ balance grow with each notification, whether it’s 10, 20, or even a whopping 10,000 ‘sats’ received from fellow Nostr users. Likes no longer hold the same allure. It’s time for money to do the talking.
I also have the ability to send money to users who share funny memes, useful articles, or valuable thoughts. None of these users are even close to being influencers. They’re normal people now making (small amounts of) money by accepting direct bitcoin payments.
Have you ever made money posting pictures of your dog on any social media platform? Chances are, you haven’t, because there’s too much competition from established influencers. Although users on Nostr are a comparatively small population, there are a multitude of challenges that creators face on platforms like Instagram and Twitter that aren’t a problem at all for Nostr users.
Traditional content monetization models make it nearly impossible for anyone who isn’t a high-profile influencer or celebrity to earn money on social media platforms. Content visibility and monetization on traditional platforms heavily rely on algorithmic systems that determine which posts and creators receive exposure. This reliance creates an uneven playing field, favoring content that aligns with the algorithms’ preferences and potentially limiting the earning potential of creators whose content may not fit those parameters. Nostr doesn’t have any algorithms, which means that your content will be visible to everyone using the platform.
Nostr’s Solution: Direct Yet Decentralized Monetization
That’s where the Nostr Protocol comes in. One of Nostr’s distinguishing features is its decentralized and open nature, allowing users to choose the social media apps that best suit their needs.
Nostr is not an app or a company. Instead, it is a protocol that anyone can build an app on top of. This means that Nostr makes it possible to seamlessly transfer the same accounts between different Nostr apps, such as ZBD, Primal, or Damus, and users can maintain their identity, followers, and posts. While most Nostr apps look and feel like Twitter, some are more like Medium, and others look like Instagram. Imagine if you could seamlessly cross-post on Twitter, Facebook, and TikTok at the same time. That’s comparable to what Nostr enables.
This flexibility ensures users can adapt to varying policies and find the app that aligns with their objectives, giving them greater control over their content and monetization choices. If a creator faces strict content policies on one app, they can simply log into another app with the same credentials. They won’t have to worry about losing all of their followers or content.
Plus, with Nostr, content creators can retain up to 99% of the money they earn. That 1% is often just incurred as a small network fee or a fee imposed by the wallet provider you decide to use.
Getting Started on Nostr: Tips for Success
To begin monetizing on Nostr, all you need is a bitcoin Lightning wallet and a Nostr app. Currently, most wallets and Nostr apps are separate, except for the ZBD app, which serves as both a Nostr app and a wallet. While their Nostr feature is still in alpha with a waitlist, I recommend joining it or asking around for an invite code, as ZBD offers the most user-friendly Nostr experience. You can however start using it as a wallet. It’s my preferred wallet of choice, offering instant payments and the convenience of connecting it to Cash App for easy conversion of your hard-earned ‘sats’ to dollars. Wallet of Satoshi is another excellent wallet option to get started. Both options provide you with a Lightning Address, which functions as an email-like identifier to receive bitcoin payments from anywhere in the world, instantly.
While awaiting access to the ZBD app, you can download a Nostr app like Damus (iOS), Amethyst (Android), or Primal (web) and add your address to your profile. Armed with your Lightning Address and your preferred Nostr app, you have everything you need to monetize your content on Nostr. Now, anyone can ‘zap’ your posts or profile from anywhere across the globe.
If you want to increase your content’s discoverability, I recommend using the discovery hashtag #grownostr. Additionally, you can manually search for interesting accounts to follow by exploring hashtags the old school way. Nostr does not employ fancy algorithms for account discovery yet, but there’s a certain charm in personally embarking on the exploration journey for yourself.
Using Nostr to easily earn bitcoin makes the creator economy more accessible to people beyond influencers and celebrities. It’s the simplest way to explore content monetization on your own terms. Social media users who are willing to experiment with Nostr and bitcoin may finally unlock the full potential of their content, making social media not only more engaging, but also financially rewarding.
