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Whenever you visit sites, like pages, listen to songs, download videos, or perform any of the various other online actions we create data. This data is then complied and sold by Data Brokers, creating a $300 billion dollar industry. And we the data creators, see none of it!
Until now!
Data Wallet is a brokerage firm that is preparing to launch and will pay it’s members for their data! They claim that their platform “give you full control to decide who gets to buy your data, what data they get to buy, and most importantly, we make sure that 100% of the money paid for your data is paid out to no one else than you.”
Of course, the big question is how much will I make by selling my data? Data Wallet answers this in their faqs:
“We expect users to be able to make several hundred dollars per year in the beginning and several hundred dollars a month once the platform is at scale.
The average payout will depend on how many firms you sell data to and how much data you link that you’re willing to anonymize and sell. In the beginning, we expect people to be able to make somewhere between $3 – $5 per data sale. It also depends on whether or not a data sale is a ‘layered data sale’ – e.g. if a company wants to buy your data from Facebook and Twitter together. If it’s just Facebook or Twitter alone, it might be more like around $1. Our pricing system reflects the notion that data gets exponentially more valuable the more platforms are layered on top of one another. Therefore, if a company wants to buy your data from Facebook, Twitter, and say Youtube, this would be an exponentially higher payout than a data sale simply from Facebook.
The most important aspect is this: since companies are not allowed to cross-share this data (sell it, license it out, etc.) every company on DataWallet will have to purchase the data from you if they want access to it. This way, you can sell the exact same data set to, say, 100 companies. So even if you just sell data from Facebook, you might be able to make a hundred dollar payout because your data is being bought by a high number of enterprise clients. This is why we’re also putting a lot of focus on enterprise sales, as we want to make sure that our users can sell their data to as many companies as possible and therefore earn more with their data.
Also, all data sales are ongoing. This means that if you opt in to a data sale, the enterprise client will continuously pay you for every increment of data you create up to the point where either you opt out of the data sale or the enterprise client ends it because it doesn’t need further data. This way, the data sets that enterprise clients can access are real time and our users are generating recurring revenue.”
The average payout will depend on how many firms you sell data to and how much data you link that you’re willing to anonymize and sell. In the beginning, we expect people to be able to make somewhere between $3 – $5 per data sale. It also depends on whether or not a data sale is a ‘layered data sale’ – e.g. if a company wants to buy your data from Facebook and Twitter together. If it’s just Facebook or Twitter alone, it might be more like around $1. Our pricing system reflects the notion that data gets exponentially more valuable the more platforms are layered on top of one another. Therefore, if a company wants to buy your data from Facebook, Twitter, and say Youtube, this would be an exponentially higher payout than a data sale simply from Facebook.
The most important aspect is this: since companies are not allowed to cross-share this data (sell it, license it out, etc.) every company on DataWallet will have to purchase the data from you if they want access to it. This way, you can sell the exact same data set to, say, 100 companies. So even if you just sell data from Facebook, you might be able to make a hundred dollar payout because your data is being bought by a high number of enterprise clients. This is why we’re also putting a lot of focus on enterprise sales, as we want to make sure that our users can sell their data to as many companies as possible and therefore earn more with their data.
Also, all data sales are ongoing. This means that if you opt in to a data sale, the enterprise client will continuously pay you for every increment of data you create up to the point where either you opt out of the data sale or the enterprise client ends it because it doesn’t need further data. This way, the data sets that enterprise clients can access are real time and our users are generating recurring revenue.”
Most importantly, Data Wallet claims that your information will be supplied anonymously and that nothing will happen that you don’t agree to.
This is definitely a very exciting money making opportunity.
As they are in their pre-launch phase, they are looking for more members. So, when you refer 5 or more friends, you’ll become a VIP member and earn 10% more on all your sales for 12 months.
