Decentralized application (Dapps) connects users and developers directly by excluding the third party who hosts and manages the code and user data.
Usually, there is no permission required for building a Dapp, and there is no centralized group of people that can change the platform’s rules.
The backend programming code on Dapp runs on a decentralized peer-to-peer network, and the front-end code can be written in any programming language that makes API calls to its backend.
The Dapp market has grown to such an extent that entrepreneurs from across the globe have started crowding the space, looking for companies to develop Dapp and decided to make money out of it.
There are many things to be examined before entering the decentralized space. Now let us look at few ways to make money with your decentralized application in the market.
Ways to make money from Dapp
Charging transaction fees
The primary way to make money from a Dapp is by charging transaction fees. Charging a transaction fee for every user for availing of your services is the best profitable way with Dapps.
For instance, if person A purchases something from person B through your platform. N% of the amount goes to the Dapp service provider, 100-N% goes to person B. The allocation of transaction fees totally depends upon the service provider.
To give access to specific features, you can ask your users to subscribe or to be a premium member of your Dapp.
The subscription activation can be given as a period wisely. For instance, users are allowed to access a particular feature X times.
This is one usual problem faced by all the users while performing the trade. Either you can add the advertisements or terminate advertisements. Anyway, both ways can make a profit. By adding an ad, you can charge a fee from the advertisement company, and by avoiding advertising, you can charge a fee from the user who wants to get rid of it.
If your project is solving some world issue, you can simply add a donate button on your application or share the link to entrepreneurs around the globe to donate.
Referral marketing can also be taken into consideration to make money with an ethereum based decentralized application.
As the number of blockchain platforms is available on the internet, you can promote their business by adding their website link, thereby depending upon the website click, you get paid by them.
These are some of the ways that blockchain Dapp development company make money out of it. Before embracing dapp development services, analyze the business model and strategies to get the best outcomes from the Dapp development. If you are interested in developing your own Dapp, get in touch with a leading Dapp development company that understands blockchain technology and decentralization and can help you provide a robust solution.