In my first post on Facebook’s fictitious blockchain, I talked about how Bob could have earned cryptocurrency by posting to Facebook daily if Facebook had launched with a blockchain. In my last post on the topic, I discussed Facebook’s fictitious staking protocol. This time, I want to discuss a few other ways Bob could have increased his earnings while making fun of Mark Zuckerberg 18 times a day.
Facebook Posts
As a reminder, for the purposes of this illustration, we’re assuming Facebook’s fictitious cryptocurrency Facebit is valued at $5.55 USD in 2021. Bob’s earnings from his 18 posts per day are expected to earn him at least $24,065.91, but because he’s been staking his earnings for 18 years, Bob has maned to pull in an additional $55,500 in earnings from an initial investment of $50. But what if he had been active in some of Facebook’s other core features?
Facebook Groups
Groups are a core feature on Facebook’s platform. Started by an individual user, they allow Facebook users to gather in a social community around a common interest. Bob could have participated in any number of groups as a user, but he could also have started any number of groups and acted as their moderator. He could also have been selected to be a moderator of Facebook Groups started by other Facebook users.
Let’s say Bob is a member of five Facebook Groups on various topics and posts to those Groups a few times each day for a total of 10 posts. Some of those groups have thousands of users. Bob gets 50 percent of any rewards earnings from posts he makes in groups. Because each post earns 1 Facebit, by the end of the year, he could expect to earn an additional $10,128.75 from his group postings in 2021.
As the founder of a group called Satirizing Social Media, Bob earns an additional 10 percent of all rewards earning generated in the group, but he has to share some of that his moderators. Each moderator earns and equal share of 5 percent of the total earnings generated by the group. If Satirizing Social Media earned a total of $40,000 Facebits in 2021, Bob’s earnings from the group this year would be $20,000.
Bob is also moderator a couple of groups started by other Facebook users with a total income from those groups of $5,416.82.
Total earnings for Bob from Facebook Groups in 2021 = $35,545.57.
Facebook Pages
Pages are static on Facebook and allow individuals and businesses a way to set up a publishing platform allowing them to share information, posts, and more while reaching a broader audience than they could by simply posting on their timelines. For rewards purposes, we’ll assume they operate the same way as groups. The page owner gets 50 percent of rewards and any page administrators share an equal portion of 10 percent of rewards.
Bob owns the page Mark Zuckerberg is a Goofball and has no administrators. As a fairly new page, it doesn’t have a lot of traction yet, so Bob’s earnings in 2021 are expected to be a modest $2,468.92.
Instant Messaging
Instant Messaging (IM) is a great tool of the Facebook platform, allowing users to contact each other directly. But on Facebook’s fictitious blockchain, called Facechain, users must pay a small fee in Facebits to send a message. The amount is up to the recipient.
Bob decides to charge members of his groups a measly .01 Facebit to send him a message. If users abuse that the privilege, he’ll increase their fee on a case-by-case basis. Subscribers to his page can send a message for free. Everyone else must pay .05 Facebits.
Bob also uses Instant Messenger strategically to promote certain high-value posts he wants more people to see. In 2021, his expected earnings from IM is $594.26, but his expenses are expected to be around $3,498.93. A net loss.
Facebook Ads
Since Bob has figured out he’s running a business, he has quit his day job to focus entirely on making fun of Mark Zuckerberg. But he wants to make sure he is making money from his business. So went to Cafepress and created T-shirts and coffee mugs using content from his most popular posts making fun of Mark Zuckerberg. He promotes those using Facebook ads, which he pays for in Facebits.
In 2021, Bob’s total expenditure in advertising comes to $15,628.96. From that, he earns $25, 498.52 selling T-shirts and coffee mugs that make fun of Mark Zuckerberg.
Facebook Events
Once a quarter, Bob holds a special event and invites as many people as he can to watch him make fun of Mark Zuckerberg live on Facebook video. Because he must pay to boost his events to get them wider promotional distribution, he spends $2,435.98 per quarter on events promotion. He is sure this expenditure results in more people seeing his page, group, and timeline posts and that he sells more coffee mugs and T-shirts. It’s an expense worth the Facebits.
Facebook Games
In his spare time, Bob likes to play games on Facebook. His favorite games are Texas Holdem and Hay Day. Every Friday night, he plays Texas Holdem with a group of friends, sometimes losing a few Facebits and sometimes winning a few. Since gambling is illegal in his state, players don’t actually bet money. They play the game for the points and earn Facebits based on the number points they earn in a single month. At the end of the year, Bob takes inventory and realizes he has lost a total $1,456.82 in 2021 playing Texas Holdem.
Each day, however, he spends a little time managing his farm on Hay Day. The activities he participate in during the game earns him a total of $1,524.96 throughout the year.
His total earnings from games is $68.14.
Bob’s Total 2021 Facebit Earnings
Of course, there are other ways Bob could have earned Facebits playing around Facebook all year. He could use Facetime to call his parents and friends. He could use Marketplace to buy and sell items for Facebits or real dollars. He also post to Stories and Offers, and play Oculus, Facebook’s virtual reality game. At the end of the year, Bob totals his earnings and expenses and learns he has $97,517.28 worth of Facebits in his account. Because he has to eat and pay bills, he cashes out $3,000 out each month to live on and lets the rest grow as he continues to build his Facechain business.
My hope is that this scenario gives you a little glimpse into the future potential of blockchain as a business enterprise for serious content creators. However, I make no claim that earnings are guaranteed.
DISCLAIMER
I am not a financial advisor, nor do I give financial advice. The above information should not be considered financial advice but is for informational purposes only. Neither I nor Cryptowriter are responsible for financial losses incurred as a result of acting on this information. Please consult a financial advisor before making any financial decisions.
This post is published for Cryptowriter in association with Voice.
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