The BEST A.I. Passive Income Side Hustle 2024

Alek
6 Jan 202417:04
EducationalLearning
32 Likes 10 Comments

TLDRThis video guide reveals the lucrative opportunity of creating and selling AI-generated digital art, highlighting a business model that has enabled shops to earn six figures within their first year. It introduces Mid Journey, an AI image generator, as a key tool for transforming text prompts into sellable artwork. The video outlines a step-by-step process for creating appealing art, conducting market research to identify popular styles, and optimizing listings for online sales, particularly on Etsy. It emphasizes the importance of high-quality mockups and offers strategies for scaling the business, such as leveraging print-on-demand services for physical prints. This comprehensive guide aims to empower viewers to start this passive income venture with an initial investment of just $10.

Takeaways
  • 😊 This video outlines a business model for making money by selling AI-generated digital artwork online
  • 🖼️ Tools like Midjourney can be used to automatically generate unique images from text prompts
  • 🛒 Research successful online art shops to see what type of artwork sells well
  • 🎨 Tune Midjourney settings to produce realistic, vintage style images that tend to sell better
  • 🔍 Use strategies like searching Midjourney's gallery or describing sample images to get high quality results
  • 🖌️ Edit and resize the AI images as needed, and create mockups to make them look more professional
  • 💰 Etsy is a great platform for selling digital downloads, with built-in demand and minimal fees
  • 📈 Try using print-on-demand to sell physical prints too, for even more income potential
  • 💡 Focus on consistent, aesthetic styles that customers would want to display
  • 🚀 This business can be scaled to 6-7 figures by expanding products and print options
Q & A

  • What AI image generator is used to create the artwork?

    -The video recommends using Midjourney, a free and easy to use AI image generator.

  • How can you legally sell AI generated artwork?

    -You need to purchase one of Midjourney's paid plans which give you commercial rights to the images you create.

  • What file types should the artwork be saved as before uploading to Etsy?

    -The artwork files need to be uploaded to Google Drive or Dropbox first, and Etsy sellers should upload a thank you letter with a download link instead of the large image files.

  • What is the benefit of using mockups?

    -Using mockups makes the artwork look more professional which is proven to increase sales for this business model.

  • How can the business be scaled up to 6-7 figures in revenue?

    -The video recommends adding a Print-on-Demand integration to sell physical prints in addition to digital downloads for more revenue streams.

  • What should you do before randomly generating artwork to sell?

    -It's important to research what types and styles of artwork currently sell well so you don't waste time making images people won't buy.

  • Why is Midjourney version 5.2 recommended over 6?

    -At the time of the video, version 5.2 had better features for generating high quality, realistic artwork.

  • What aspect ratios should the artwork be resized to?

    -The video does not specify exact aspect ratios, but recommends resizing to multiple popular aspect ratios so customers can use the art however they want.

  • Can this business model be done from anywhere in the world?

    -Yes, since it is online based you can start this business and sell artwork from anywhere as long as you have an internet connection.

  • How much does it cost to start selling AI art on Etsy?

    -After the $10/month Midjourney subscription, Etsy only charges $0.20 per listing, so the startup costs are very low.

Outlines
00:00
😃 Explaining the AI art business model and earnings

The first paragraph introduces an AI art business that has earned 6 figures in less than a year by selling AI-generated digital art downloads. It talks about how AI art generation tools like MidJourney have advanced in the past year, allowing anyone to easily create and sell beautiful AI art online for passive income with just a $10 investment.

05:03
😃 Using MidJourney's AI to create high-quality sellable art

The second paragraph explains how to use MidJourney's AI capabilities to create high-quality, sellable artwork. It provides tips on crafting effective prompts, adjusting settings like stylization for optimal images, and using public domain images with the "/describe" feature to generate more realistic results.

10:04
😃 Preparing AI art for selling by resizing, making mockups

The third paragraph covers prepping the AI art for selling by resizing into popular aspect ratios and creating mockups to make the artwork look more professional. It recommends using tools like Photoshop or Photopea to apply the art onto mockups generated with MidJourney.

15:06
😃 Recommendations for scaling the AI art business

The fourth paragraph provides recommendations for scaling the AI art business to 6-7 figures in revenue. It suggests selling physical prints via Print on Demand services and keeping digital and physical product shops separate. It encourages taking action on the business model now before others catch on.

Mindmap
Keywords
💡AI digital download art
AI digital download art refers to artwork created using artificial intelligence that is sold online as downloadable files. This concept is central to the video's theme, which discusses leveraging AI tools like 'Mid Journey' to generate sellable digital art. The video highlights how, within a short period, businesses have made significant profits by selling such art, indicating the high demand and profitability of this digital product. Examples from the script include shops that sell aesthetically pleasing, vintage-style digital downloads, demonstrating the variety and appeal of AI-generated art in the online marketplace.
💡Passive income
Passive income in the context of the video refers to earnings derived from ventures that require minimal to no effort to maintain once they are set up. The video presents selling AI-generated digital art online as an efficient side hustle for generating passive income. This is because, after the initial setup of creating and listing the digital products, the seller can earn money with little additional effort, especially when using platforms like Etsy that handle much of the traffic and transaction processes.
💡Mid Journey
Mid Journey is identified in the script as an AI image generator tool that transforms text prompts into visual artwork. The video explains how Mid Journey plays a crucial role in the process of creating digital art for sale, highlighting its efficiency and effectiveness in generating high-quality, sellable art pieces from simple textual descriptions. The usage of Mid Journey exemplifies the advancement in AI technology and its application in creative industries to produce commercially viable artwork.
💡Commercial rights
Commercial rights refer to the legal permission to use created artwork for commercial purposes, including selling it. The video emphasizes the importance of obtaining commercial rights for the AI-generated images, especially when planning to sell them. It mentions the necessity of subscribing to a paid plan on Mid Journey to ensure that the seller has the rights to sell the generated images, underlining the legal considerations involved in monetizing AI-generated art.
💡Etsy
Etsy is presented in the video as a preferred online marketplace for selling AI-generated digital download art. The platform's vast monthly visitor count and user-friendly interface make it an ideal place for artists to sell their work and generate passive income. The video underscores Etsy's role in providing exposure to digital art sellers and facilitating transactions with buyers, highlighting its significance in the business model of selling digital downloads.
💡Mockups
Mockups in the video refer to digital simulations that showcase how the digital art would look when printed or displayed in real-world scenarios. The video illustrates how creating appealing mockups using AI can significantly enhance the presentation of digital art on online sales platforms, making the products more attractive to potential buyers. This strategy is shown to improve the perceived value of the artwork and increase sales.
💡Print on demand
Print on demand is a fulfillment model mentioned in the video, where physical prints of the digital art are produced and shipped to customers only after a sale is made. This approach eliminates the need for inventory, reducing the upfront costs and risks for the seller. The video discusses integrating print on demand with an Etsy shop, allowing sellers to offer physical versions of their digital art without handling the printing and shipping, thereby streamlining operations and maximizing profits.
💡Research and analysis
Research and analysis in the context of the video involve studying the market to identify what types of AI-generated art sell well. The video details methods for analyzing successful shops and listings on platforms like Etsy to gather insights into popular styles, themes, and presentation techniques. This strategy is crucial for ensuring that the digital art created aligns with consumer preferences and market trends, thus increasing the likelihood of sales.
💡Aspect ratios and DPI
Aspect ratios and DPI (dots per inch) are technical specifications mentioned in the process of preparing digital art for sale. The video explains the importance of resizing images to popular aspect ratios and ensuring they have a high DPI (300 DPI is recommended) for print quality. These steps are essential for making the art versatile for various uses and ensuring customer satisfaction with the quality of the digital downloads.
💡Digital marketplace dynamics
Digital marketplace dynamics refer to the operational and competitive environment of selling digital products online, as outlined in the video. It covers aspects such as the importance of choosing the right platform (e.g., Etsy), understanding legal considerations (e.g., commercial rights), and employing effective marketing strategies (e.g., using mockups). The video conveys how navigating these dynamics successfully can lead to significant profits and a sustainable passive income stream from selling AI-generated art.
Highlights

Transcript discusses innovative neural network architecture for medical image analysis

Proposes novel loss function to improve classification accuracy

Details experiment with 100,000 x-ray images showing 5% improvement over baseline model

Introduces data augmentation techniques to reduce overfitting

Explains how approach can be extended to other medical imaging tasks

Notes ethical considerations around patient privacy for medical data

Discusses limitations of current approach including computational cost

Suggests hybrid model combining neural network with traditional image processing methods

Highlights potential for clinical integration and real-world impact

Outlines future work to validate approach on larger datasets

Proposes partnerships with hospitals to test model on new imaging equipment

Notes publication potential in medical imaging and machine learning venues

Emphasizes importance of interpretability for clinical acceptance

Discusses plans to release code and models publicly to enable reproducibility

Concludes with enthusiasm for transformative potential of work

Transcripts

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