Promptbase: How Much You Can ACTUALLY Earn?

Xeni
4 May 202307:38

TLDRThe video discusses realistic earnings from selling prompts on PromptBase, debunking the exaggerated claims made by some YouTube channels. It provides an example of a successful seller with 335 sales at an average price of $2.99, earning around $267 per month after PromptBase's 20% fee and the cost of a mid-journey subscription. The video also mentions that new sellers are limited to a maximum price of $4.99 for their prompts and that there's a daily limit of two submissions. It concludes that while PromptBase is a legitimate side hustle that can earn a few hundred dollars a month, it's not a get-rich-quick scheme and should be approached with realistic expectations.

Takeaways

  • 📈 Realistic earnings from PromptBase are not as high as some YouTube videos suggest, but can still be a good side hustle.
  • 🎨 A successful PromptBase seller with 335 sales of prompts priced at $2.99 has earned around $801.32 after PromptBase's 20% fee over three months.
  • 📉 Monthly earnings for this seller would be $267.10, which decreases to $237.10 after considering the cost of a mid-journey subscription.
  • 💵 This income, while taxable, is considered reasonable for a side hustle, requiring less time and effort compared to other ventures.
  • 🚀 The enjoyment of creating prompts and utilizing AI technology is a significant benefit for those who engage in this side hustle.
  • 💰 Another seller with a slightly higher rank and more expensive prompts (average $4.99) has made approximately $1678.81 over four months.
  • 📉 After accounting for the mid-journey subscription, this seller's monthly earnings are around $387.95.
  • 🚫 New accounts on PromptBase are limited to a maximum prompt price of $4.99, which can only be increased with a proven sales record.
  • 💸 It doesn't make economic sense for new sellers to set high prices due to a lack of credibility, and most sellers keep their prompts budget-friendly.
  • 🚦 There's a limit to the number of prompts that can be submitted per day on PromptBase, which is two.
  • 🤔 Earning a few hundred dollars a month on PromptBase is achievable with dedication and effort, but it's not a replacement for full-time income at this time.
  • 📝 It's important to have realistic expectations about the income potential from PromptBase and not to be misled by exaggerated claims.

Q & A

  • What is the average price for the prompts created by the first mentioned creator on PromptBase?

    -The average price for the prompts created by the first mentioned creator on PromptBase is $2.99.

  • How many sales has the first mentioned creator achieved on PromptBase?

    -The first mentioned creator has achieved 335 sales on PromptBase.

  • What is the rank of the first mentioned creator on PromptBase?

    -The rank of the first mentioned creator on PromptBase is 42.

  • How much does PromptBase withhold from the creator's earnings?

    -PromptBase withholds 20% of the creator's earnings.

  • What is the estimated monthly income for the first mentioned creator before taxes and subscription costs?

    -The estimated monthly income for the first mentioned creator before taxes and subscription costs is $267.10.

  • What is the cost of the standard plan for MidJourney that the creator might be using?

    -The cost of the standard plan for MidJourney is $30 per month.

  • After accounting for the MidJourney subscription, what is the creator's estimated monthly income?

    -After accounting for the MidJourney subscription, the creator's estimated monthly income is $237.10.

  • What is the maximum price a beginner account can set for their prompts on PromptBase?

    -The maximum price a beginner account can set for their prompts on PromptBase is $4.99.

  • What is the limit on how many prompts a creator can submit per day on PromptBase?

    -A creator cannot submit more than two prompts per day on PromptBase.

  • Why might it not be economically sensible to price prompts very high for a new creator on PromptBase?

    -It might not be economically sensible to price prompts very high for a new creator because they don't have the credibility yet to sell them for really big money, and most buyers are looking for budget-friendly prompts.

  • What is the realistic monthly income a creator can expect from PromptBase as a side hustle?

    -A creator can realistically expect to earn a few hundred dollars a month from PromptBase as a side hustle.

  • What is the creator's personal opinion on PromptBase as a side hustle?

    -The creator is a big fan of PromptBase and finds it an enjoyable and realistic side hustle for earning a few hundred dollars a month, but does not see it as a substitute for full income at the moment.

Outlines

00:00

🤔 Realistic Earnings from Selling Prompts on Prompt Base

The speaker discusses the realistic earnings a creator can expect from selling prompts on Prompt Base. They caution against the exaggerated earnings claims made by some YouTube channels and instead provide a detailed analysis based on actual sales figures and pricing. The first example features a creator who has sold 335 prompts at an average price of $2.99, resulting in earnings of $1,001.65, which after Prompt Base's 20% fee and a $30/month Midjourney subscription, equates to a monthly income of approximately $237.10. The second example involves a creator with slightly higher priced prompts at an average of $4.99, resulting in earnings of $1,678.81 over four months, or about $417.95 per month, which after the subscription fee equates to $387.95 monthly. The speaker emphasizes that while these earnings are not insignificant, they are far from the large sums promised by some sources and that the platform is not a full-time income replacement but a viable side hustle.

05:01

🚫 Limitations and Considerations for New Prompt Sellers

The speaker addresses the limitations and considerations for new sellers on Prompt Base. They clarify that as a beginner, the maximum price for a prompt is $4.99, and this limit can only be lifted with a proven sales record. The speaker advises against setting high prices initially due to the lack of credibility for new sellers. They also mention that most creators price their prompts affordably to encourage more sales. Additionally, there is a limit to the number of prompts that can be submitted per day, which is two. The speaker concludes by reiterating that while earning a few hundred dollars a month from Prompt Base is realistic with dedication and effort, it is not a get-rich-quick scheme and should be viewed as a legitimate side hustle rather than a full-time income source.

Mindmap

Keywords

💡Promptbase

Promptbase is an online platform where creators can sell prompts, which are essentially ideas or starting points for creative projects such as artwork or writing. In the video, it is the central theme as the speaker discusses the potential earnings from selling prompts on this platform.

💡YouTube videos

YouTube videos are online content pieces hosted on the YouTube platform. The script mentions these as sources that often promise large earnings from side hustles, contrasting with the more realistic earnings discussed in the video.

💡Creator

A creator, in the context of the video, refers to an individual who designs and sells prompts on Promptbase. The speaker emphasizes the realistic earnings of such creators, as opposed to the exaggerated claims found in some online videos.

💡Mint Journey prompts

Mint Journey prompts are a specific type of creative prompts that the speaker and the featured creators on Promptbase are focusing on. They are used as an example to illustrate the earning potential of selling prompts on the platform.

💡Sales

Sales refer to the transactions where a creator's prompts are bought by customers on Promptbase. The number of sales is a key factor in determining a creator's earnings, as shown by the calculations in the video.

💡Rank

Rank on Promptbase is a measure of a creator's success on the platform, often correlated with the number of sales and the quality of prompts. The video uses rank to identify successful sellers and discuss their earnings.

💡Earnings

Earnings are the income that creators make from selling their prompts on Promptbase. The video script provides a detailed breakdown of how much a creator can earn, factoring in sales, platform fees, and subscription costs.

💡Mid-Journey subscription

Mid-Journey subscription is a service that creators might use to generate their prompts. The cost of this subscription is factored into the net earnings of a creator, as discussed in the video.

💡Taxable income

Taxable income refers to the money earned by creators from selling prompts, which may be subject to taxes depending on the creator's country of residence. The video mentions this to provide a more accurate picture of the take-home earnings.

💡Side hustle

A side hustle is an additional job or venture outside of one's primary occupation. In the video, selling prompts on Promptbase is presented as a viable side hustle that can generate supplementary income.

💡Clickbait videos

Clickbait videos are online videos that use sensational titles or thumbnails to attract viewers, often promising unrealistic outcomes such as large earnings from simple tasks. The video script contrasts these with the more realistic expectations for earnings on Promptbase.

Highlights

The realistic earnings from PromptBase are often misrepresented in YouTube videos with inflated numbers.

A creator focusing on mint Journey prompts can expect to earn an average of $267.10 per month after PromptBase's 20% fee.

The earnings are calculated from a successful PromptBase seller with 335 sales at an average price of $2.99 per prompt.

The monthly earnings from PromptBase can cover some bills but are far from the thousands promised by clickbait videos.

A mid-Journey subscription is necessary for creators, costing at least $30 per month.

After accounting for the subscription cost, a creator earns approximately $237.10 per month.

Earnings from PromptBase are taxable income, and the amount of tax depends on the creator's location.

Another creator with a similar rank earns about $387.95 per month after subscription costs.

Prompt prices are generally budget-friendly to attract more buyers and increase sales.

New accounts on PromptBase are limited to a maximum prompt price of $4.99.

Economically, it doesn't make sense to price prompts very high, especially for new creators without established credibility.

There's a limit to the number of prompts a creator can submit per day on PromptBase, with a cap of two submissions.

PromptBase is a legitimate side hustle that can earn a few hundred dollars a month with dedicated time and effort.

The video presenter is a fan of PromptBase and finds joy in creating prompts and utilizing AI technology.

PromptBase is not currently seen as a side hustle that can replace a full income for someone.

The presenter encourages realism and understanding of what PromptBase can offer as a side hustle.

The video aims to provide value by giving a realistic view of earnings from selling prompts on PromptBase.

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