There’s no shortage of latest opportunities to form money online, from selling your sneakers to renting out your backyard.
From renting out rooms on Airbnb to snagging odd jobs on TaskRabbit, it’s not hard to seek out opportunities to form a touch extra cash online. The gig economy has become a neighborhood of our work culture, while e-commerce marketplaces have created a worldwide playing field for ordinary people looking to sell products and services.
Against that backdrop, there are many time-tested opportunities out there to form some money on the side, from selling your photos online to taking paid surveys. Yet as sure because the sun rises every day , the web world continues to supply a spread of latest ways to form some cash.
Let’s take a glance at a number of those emerging opportunities, whether it’s a completely new thanks to generate a touch extra income or a fresh approach to an existing method. a number of these are easy, but others take time, creativity and even a touch of overhead. And, as always, do your own due diligence to form sure these options are right for you.
Become a sneakerhead
Selling sneakers online is becoming business , and not only for Nike and Adidias. Platforms like StockX, GOAT, Stadium Goods, Flight Club and Bump are fueling a boom within the shoe resale market. Sneakerheads are flocking to those platforms to flip rare kicks, which they typically snaffle directly from big brands before marking up the worth online.
A big player here is StockX. Befitting its name, its website looks more sort of a stock trading platform than a web shoe shop . for instance , if you click on a pair of Yeezys, you’ll discover how its sale price has fluctuated over recent months, a “ticker” and a gauge for price volatility. Buyers place bids and sellers place asks, and a transaction happens automatically when the 2 sides align. StockX collects a 3 percent payment processing fee on all sales, plus a 9.5 percent fee for all shoe sales (the site also sells other collectible items, like handbags and watches).
Not convinced? A pair of Nike Dunks that when retailed for $200 sold on StockX for $13,500 in July 2019, consistent with The Wall Street Journal.
The takeaway: The secondary marketplace for collectible shoes has a flash . It takes some overhead and legwork, but if you’re game, you’ll still make money on the fly.
Weigh the implications of selling access to you
Personal data is in demand, and although it’s controversial, you’ll maximize that if you’re unconcerned about privacy.
Look no further than Facebook, which now offers payment in exchange for permission to trace your phone usage. In 2019, the social media company launched Study from Facebook, a marketing research app which collects user data about phone activity reciprocally for a monthly payout. the corporate says it won’t use the info to focus on advertisements or to sell to 3rd parties; it simply aims to find out about the habits of smartphone users. you’ve got to register and receive an invitation from Facebook to participate, with the app only available within the U.S. and India for those ages 18 and older. Facebook doesn’t disclose what proportion it pays participants, but the corporate says everyone who takes part is compensated.
Selling personal data online isn’t entirely new. the corporate Datacoup has been around since 2012 and offers to assist people sell their data anonymously. Then there are options like Panel App, which doles out rewards to users who take location-based surveys. Overall, this trend should still provide regular opportunities for people hoping to form money. Case in point, on Prime Day in 2019 Amazon offered U.S. customers a $10 credit if they let the e-commerce giant track the websites they visited.
The takeaway: If you’re not attached to your privacy, opportunities to sell your personal data shouldn’t be hard to seek out .
Follow the instance of thrifty teenagers
People have long gone online to filter out their closets, but Gen Z is now getting into on the action. Look no further than Depop. It’s a shopping app almost like platforms like Poshmark and ThredUP, but it’s become particularly popular among younger audiences.
Often described as a mixture of eBay and Instagram, Depop is a world marketplace for fashionable secondhand items, from vintage Prada to newly trendy Old Navy sweatshirts from the first 2000s. Sellers have profile pages where they post pictures, descriptions and hashtags, while buyers can follow their favorite sellers and scroll through their posts during a feed. Like other online marketplaces, there are potentially some overhead costs for sellers and Depop takes a ten percent cut of every sale.
The platform was originally launched in Milan in 2011, but in recent years it’s grown to command a cult following, with 15 million users in 147 countries round the world. Among active users, 90 percent are under the age of 26, while an estimated one-third of all 16-to-24-year-olds within the U.K. are registered on Depop, consistent with one among the company’s investors.
The craze appears to be grasping in North America also . Depop says the amount of things sold within the U.S. doubled last year, and there are now 5 million users stateside. It’s also attracted a wave of glowing coverage from publications just like the Atlantic, The ny Times and therefore the Cut.
The takeaway: Depop is way from alone within the online thrifting space, but the platform has tapped into a market of teenage tastemakers, creating a vibrant new thanks to buy and sell online.
Sell away on social media
People are familiar with buying and selling on Ebay, Craigslist or Etsy, but social media platforms are now encroaching on their market.
Take Facebook, for instance . The social media company announced in 2019 that it’s adding new shopping features across its family of apps. that has new shipping and payment options for Marketplace, Facebook’s sprawling e-commerce platform where you’ll swap everything from furniture to cars. The move will allow Marketplace users to ship items anywhere within the continental U.S. and buy their purchases directly through Facebook (something it previously didn’t facilitate). This comes after Facebook began letting users hire contractors, cleaners, plumbers and other home services through Marketplace starting in 2018.
Not surprisingly, Instagram is additionally beefing up its e-commerce features. Influencers, creators and online businesses can now tag products directly in posts, making it easier for his or her followers to shop for from them. Facebook is additionally adding new business tools to its messaging platform WhatsApp, which can allow people to look at a product catalog directly within the app when chatting with a business.
The takeaway: In its drive to facilitate our every online action, Facebook is making it easier to shop for and sell a various array of products and services.
Consider investing in art and classic cars
An ordinary person probably can’t afford to shop for a vintage Ferrari, but what about investing $50 during a single share of a classic car? There’s an app for that, called Rally Rd.
Rally Rd. operates a platform where members buy and sell equity shares in classic cars for as little as $50 through a series of SEC-registered initial public offerings. the corporate reported in 2018 that it had 50,000 members who have combined to take a position millions, with a mean age of 26 among its user base. it’s now expanded to supply other collectibles, from a primary edition copy of Harry Potter and therefore the substance to a Honus Wagner trading card .
The goal is to eventually sell these things to non-public collectors at a profit. Of course, this sort of other investment comes with risks, and there’s no guarantee the worth of those assets will appreciate. Still, investors with the proper appetite should find many opportunities to urge in on this trend.
Another player here is Masterworks, a web platform focused on art . Founded in 2017, it extends shares in works from Picasso, Monet and Warhol. Then there’s Otis, an app that sells shares in contemporary art, sneakers and collectibles for as little as $25. Otis recently offered up its first piece for investment, a painting by Kehinde Wiley (who painted President Barack Obama’s presidential portrait). the corporate reported that quite 600 investors took part within the sale.
The takeaway: Buying shares in art or cars won’t be for everybody , but if you’re an investor curious about alternative asset classes, online platforms like Rally Rd. might be right up your alley.
Keep up with gig economy opportunities
The gig economy is nothing new at now , because of companies like Grubhub, Fiverr and Rover. But the gig landscape continues to vary , and you’ll still find new ways to form money from this versatile sort of work.
Take Uber. The ride-sharing giant recently unrolled a replacement app that matches gig workers with a spread of various temporary jobs. The project, called Uber Works, launched initially in Chicago in October 2019. the corporate has partnered with different businesses in Chicago to supply gigs doing everything from assembly-line work to bartending.
But Uber Works is way from the sole new gig economy opportunity. for instance , the recently launched app Drum promises businesses access to a network of salespeople on demand. And for restaurant workers, there’s Pared, which connects roving chefs, servers, dishwashers and line cooks to shifts. Then there’s Steady, an app launched in 2017 that’s intended to form finding gig work easier, while providing tools to trace your income.
The takeaway: New opportunities still arise within the gig economy, allowing more people with different skills to earn money online.
Related: Gig Economy & the Future of Work
Influencer marketing isn’t only for celebrities
You don’t got to be a star influencer to form money on social media. lately , Instagrammers or YouTubers with as few as 1,000 followers can attract sponsors.
These online tastemakers are often dubbed as micro-influencers or nano-influencers, in marketing jargon. Micro-influencers generally have between 2,000 to 50,000 followers, while nano-influencers have 2,000 or less (although the precise designations are considerably up for debate).
These sorts of influencers are in demand because sponsors prize engagement, and therefore the biggest social media stars aren’t bound to deliver the simplest results. In fact, influencers with just one ,000 followers can generate 85 percent higher engagement than those with 100,000 followers. Many of those influencers are regular people posting a few hobby or trade they’re particularly intimate , from owning a photogenic hedgehog to offering up cleaning tips. As a result, their followers often get a more personal experience and their recommendations come off as more trustworthy.
The numbers back this up. A 2017 study suggested that 78 percent of millennials were either indifferent or had a negative view of celebrity endorsements. That’s led to brands spending 40 percent of their influencer budgets on micro-influencers, with only 28 percent dedicated to celebrity influencers, consistent with a 2019 study.
Micro-influencers don’t command six figure deals, but there’s still money to be made. Rates vary, but an influencer with 5,000 to 10,000 followers can command up to $500 per post, while followings of 25,000 can net $800, consistent with a blog post from Instagram marketing firm Later.
But how are you able to get sponsors aboard? you’ll contact a brand directly, and there’s also a whole industry dedicated to connecting sponsors with relevant influencers. Options include TapInfluence, Tribe, Fohr and Grapevine, among others. There also are platforms like Patreon, which permit independent content creators to form money by selling memberships to their fans.
The takeaway: It’s tough to create an outsized following on social media, but artful videos of you rolling dough could usher in a touch extra dough, albeit you simply have a modest following.
The rental economy continues to open up
Basically everything you own can now become a source of additional income, because of the rental economy. The model popularized by Airbnb has now gone far beyond renting rooms and houses .
Some newer Airbnb-style marketplaces include Jettly, where you’ll hire out a personal jet, or Swimply, where you’ll hire out your swimming bath . Then there’s Rent the Backyard, a replacement company helping homeowners turn their unused outdoor space into rental housing by fronting the prices of building studio apartments in empty backyards.
Others are around for a short time , like car-sharing platform Turo or peer-to-peer boat rental company Boatsetter. There’s also Hipcamp, the “Airbnb for campsites.” Renting out activities may be a trend too, with companies like BonAppetour allowing you to ask strangers over for dinner. The list goes on and on.
Meanwhile, Airbnb isn’t standing idle as new startups join the fray. In October 2019, the corporate announced it might start allowing people to hire out animals as a part of its experiences section. meaning people can now paddleboard with corgis or go skateboarding with a bulldog.
The takeaway: just like the gig economy, the rental economy continues to evolve, with opportunities to loan out your belongings extending to just about every corner of existence.
Live mobile games are live
From professional eSports tournaments to gamers earning a living off their Twitch streams, there’s some serious cash up for grabs in online gaming. But what about for normal folks with mediocre hand-eye coordination?
In recent years, live mobile games like HQ Trivia became a simple thanks to have some fun and potentially make a touch money. HQ Trivia popularized live mobile gaming in 2017, when it began hosting twice-daily competitions that attracted many people to compete for prizes reaching into the thousands. As of 2019, HQ Trivia has reportedly paid out $6.25 million in prizes, although some winners have complained about delays in receiving their payouts. HQ Trivia’s breakout success paved the way for similar games, including FiveAlive, Swagbucks Live and Joyride.
A new player to observe is Tally, a startup founded by Seattle Seahawks’ quarterback Russell Wilson and backed by Amazon’s Jeff Bezos. In 2018, Tally revealed a pop-up mobile game where participants can win cash prizes for creating predictions around major live events, from NFL games to the Oscars. For the 2019 Super Bowl, Tally offered a $250,000 grand prize to anyone who correctly predicted 16 questions on the sport .
The takeaway: You’re probably not getting to get rich playing games like HQ Trivia, but they are doing provide an entertaining thanks to potentially make some coin.
Related: You want to be a web developer?