Decentralized apps also known as Blockchain-powered apps are one of the hottest trends these days in the crypto industry. The Blockchain technology that was brought specifically to revolutionize the Finance space has not only found a place in multiple sectors but also started giving a multitude of use-cases in the mobile landscape. Over the past few years, the dApps market has grown to such an extent that businesses from across the globe have started crowding the space, finding answers to how to build a DeFi app and how to make money from dApps.
In this blog, we will unveil some business benefits and monetization strategies you must adopt to earn money from dApps. But before moving further, it’s crucial to understand the basic definition of dApps:
Decentralized applications (dApps) are digital applications that run on a Blockchain network. These applications can be developed for a variety of purposes including gaming, finance, and social media.
Why Businesses must Invest in dApps?
Decentralized applications offer a lot of benefits to businesses as compared to conventional applications. The below-listed are some reasons why businesses must invest in dApps and include decentralized solutions in their digital strategy:
All business operations based on decentralized applications can function smoothly with minimal interruptions. It would be easy for employees to easily access critical information without any need to connect to the centralized server.
Absence of SPOF (Single Point of Failure)
Centralized servers are vulnerable to hardware failures and hacking attempts due to their dependency on a single server. On the other hand, decentralized applications are based on a shared database that replicates the data across all nodes. Hence, the failure of a few nodes can’t stop the functioning of other nodes.
Effective Supply Chain Management
An effective supply chain management process involves synchronizing and unifying operations of various businesses located at different locations. Managing complex networks needs the major stakeholders to have complete visibility of all operations across the entire network. Utilizing dApps in supply chain management ensures that all operations are highly coordinated as well as well reported for performing audits.
Increases Brand Awareness
A decentralized application can work as a source to create brand awareness and help you capture millions of users. A wider market reach will not only build a solid brand presence but also help you, as an app owner, earn greater profit in the long run.
Strategies to Earn Money from dApps
The following are some monetization strategies through which you can earn money through decentralized applications:
It is one of the oldest and highly recommended revenue methods wherein an application owner charges a transaction fee to crypto traders. If a buyer purchases something from a seller via the application, then the application owner will receive a commission fee on the processing of a transaction.
Online advertisement is a medium that helps app owners expand their business and generate huge income at the same time. A decentralized application can help app owners get higher traffic and revenue via online advertising methods like display ads and PPC.
App owners can earn money by giving businesses a place in the featured section of the app or running advertisements for a few seconds.
It is a type of revenue model through which you can charge a subscription fee on a monthly or yearly basis for allowing users to access the application. It can also help businesses to predict their monthly revenue on a regular basis. This kind of revenue model is very profitable for those who want to earn money in the long run.
In an affiliate model, the application owner agrees to pay an affiliate in exchange for providing an advertisement and link to the owner’s site. There are a plethora of Blockchain-powered platforms on the internet today that give you a link to their website for direct promotion. Having affiliate partnerships with local businesses can play a crucial role in improving your market reach and scaling your app traffic.
While these were some monetization strategies that businesses can adopt to earn money from dApps, there are many more such as premium functionality, donations, in-app purchases, referral marketing, and more. However, it is crucial to follow only the methods that suit well with your business requirements. In addition to that, if you’re facing any challenges while choosing monetization methods for your dApps, then you can also get in touch with experts at a top dApps development company like Antier Solutions.
The team of experts at Antier Solutions works dedicatedly to provide their worldwide clientele with the best dApp development services. Moreover, the company also provides services such as NFT development, whitelabel exchange development, DeFi development, coin development, Defi wallet development, crypto lending platform development, and many