Hi, first of all let's talk about what The Arena is and how did I get involved.
The Arena (ref link) is SocialFi app built on Avalanche blockchain, much like X it's made for short form content, but unlike Twitter it has several major advantages. Here, 'short form' is loosely defined because there is no actual character limit for posts like on X.
There are several ways you can earn in The Arena. Obvious one is posting, that's how you get tips, not only in Arena token but also in several other Avax chain tokens. Tips are donated by other users. Another way is by getting fees from buying and selling your tickets.
Tickets are free in-app market units that represents your profile. Anyone can buy and sell your ticket and whenever that happens you earn a fee from transaction. The more your tickets are traded greater the value. Some users have tickets valued at 30 Avax, that's around $1500 for a single ticket.
My current ticket value is 0.1 Avax (~$5) and I have in total 6 tickets bought.
One more way to earn with The Arena app is to have referrals. You will get lifetime 1% fee prize for every transaction your referrals make. Good for them, good for you :)
When The Arena started early adopters were rewarded for their activity on the platform with amazing airdrop. My share from airdrop is about 15k Arena tokens. But there is a catch and opportunity as well. Entire amount of tokens is locked and released in equal trenches in the period of 12 months. Current is trench number 2. Now how is this the opportunity? Well, some Arena users want their tokens right away and some are staking. Those how stake (and that's a majority of users) have 30% API in several different tokens.
So what happens is every month, at the end of the month when trench is released price of the Arena token goes down and right away after a day or 2 it goes up since those who stake bring the value up. So I knew this is gonna happen and changed from Avax to Arena when the price was 0.012 and then sold when price reached 0.018 and that's 50% profit.
(The Arena price chart from CoinGecko)
The opportunity here is in the same pattern which will continue month after month.
Off course there are other things to have in mind. Arena and Avax prices is one of them, so always DYOR, you have been warned.
This is how I'm playing it, doesn't mean it will work out for me or anyone else, this is not financial advise.
The app had problems in the past but managed to raise again with new leadership and new features are coming out very fast. They've built Stages (like X's Space) audio format in very short period of time and implemented in-app store so any developer can upload their app and it becomes part of the Arena ecosystem.
App adoption speed is great much because it requires X auth login and many new users are coming from X. That's maybe something Hive short form apps can utilize as well.
Anyway The Arena is definitely something to keep eye on closely in the future.
Thanks for reading.
