Blockchain – How To Earn Money?

Check out these 23 Blockchain Business Models to earn money.

What is a Blockchain Technology?

Firstly, for over a decade now, blockchain technology has been a lucrative industry for entrepreneurs and startups around the world.

Secondly, as a futuristic internet technology that promises decentralized transactions without intermediaries, blockchain has applications in practically every industry.

But, not all blockchain ideas are worth implementing to put simply. Further, many business ideas can fail because they may not be realistic enough.

Mainly, here we will explore together some of the best, realistic crypto and blockchain business ideas.

Why Blockchain?

Firstly, if you are wondering which industry to start a business in right now, blockchain is definitely a great option because of its high potential and utility across multiple industries.

Secondly, this technology has been around for only a few years now. Thereby it is already being implemented in every space, from finance & banking to security, storage, healthcare, and more.

Read More Crypto Yield Farming – How It Works?

How Does a Blockchain Work?

Chiefly, the goal of blockchain is to allow digital information to be recorded and distributed, but not edited.

In this way, a blockchain is a foundation for immutable ledgers, or records of transactions that cannot be altered, deleted, or destroyed.

This is why blockchains are also known as distributed ledger technology (DLT).

Blockchain Business Ideas?

Chiefly, 2023 is all about innovation in the Blockchain world. Check out these 23 blockchain business ideas to occupy your entrepreneurial mind with newer business models and operations.

Secondly, from NFT marketplace development to crypto crowd-funding platforms, the possibilities are endless for earning money.

List of 23 Business Ideas with Introduction

• NFT Marketplace Development

Key Steps of NFT marketplace Development

a.Firstly, defining a niche for an NFT marketplace

b. Secondly, Launching the blockchain network

c. Creating smart contracts

d.Implementing the NFT marketplace

e.Setting up crypto payment gateways

f.Establishing security

• Exchange Platform Development

Start Your Crypto exchange

a.Obtain legal counsel to ensure licensing requirements are met

b. Attain funding for venture

c. Find a technology solution provider

d. Connect your exchange with others for added liquidity

e. Partner with a payment processor

f.Implement best security practices

g. Go live via beta testing

• Real Estate Tokenization Platform

Firstly, the real estate sector is witnessing a tremendous transformation as a result of the use of blockchain technology.

Secondly, Real estate tokenization on the blockchain has opened up the market to individuals who have an interest in real estate but have been unable to join owing to a lack of cash.

Thirdly, it has also addressed the industry’s underlying problems, such as a lack of transparency, trust, and speed.

Additionally, using blockchain technology, users will have tokenized homes, houses, and apartments and represent them on the blockchain.

Further, you may also create tokens for properties that are still being built. Additionally, these tokens can be used to represent real estate, interest or to raise funding for the development of investment properties.

Benefits of Real Estate Tokenization

a. Fractionalization – Firstly, You can fractionalize high-value assets into tokens, allowing access to a broader pool of global investors.

b. Operational Efficiency – Secondly, ‘smart contract’, or programmable operations on the blockchain, enable the automation of numerous processes. Thereby, including investor whitelisting, regulatory checks, and post-issuance activities such as dividend distribution.

c. Flexibility – Thirdly, tokens can be readily purchased and sold. Thereby, investors have greater flexibility in controlling their day-to-day exposure to a certain class, area, or kind of real estate. Further, this allows businesses to decrease portfolio risks more efficiently.

d. Reduced settlement period – Chiefly, investors can settle tokenized goods transactions faster than traditional financial transactions. Further, tokenized transactions may be completed instantly, as opposed to normal ones, which might take days or even weeks.

• IDO 7 IGO Launchpad Platform

Firstly, Accubits is one of the leading blockchain-based development companies, housing some of the best IDO launchpad developers in the market.

How to Launch an IDO Platform?

a. Firstly, devise a business strategy. Secondly, plan the token offering to be released over a DEX by creating a strategy that makes sense.

b. Secondly, you need to create a marketplace

c. Then, visit a DEX launchpad

d. Then you need to create a crypto

e. Launch the token to start raising funds immediately.

Lastly, per IDO will cost $0.0234

Finally, you will get profit as an investor when you can get tokens listed on a decentralized exchange. Either way, you will be receiving returns on the investment. Mainly, it will be wise to analyze the performance of the token.

Benefits of IDO

a. Immediate liquidity

b. Cost-effective trading and lower costs for listing.

c. Average listing returns for IDO investors are +2,347% approx.

• DeFi Platform Development –

Chiefly, most dApps run on the Ethereum blockchain. Further, it is an easy and accessible resource for the building of more complex financial use cases.

For instance, prominent dApps include PancakeSwap, OpenSea, and UniSwap.

Upon, starting a DeFi app you will need to go through the following steps.

a. Truffle and Ganache – Truffle is a dev. the platform for testing the framework and pipeline for Ethereum.

b.Create an ERC-20 token

c.UI/UX design

d. Testing of the DeFi app.

Lastly, decentralized finance builds on distributed ledger technologies (DLT) to offer services such as trading, lending, and investing without using a traditional centralized intermediary.

• Decentralized Social Media Apps

Read More Web3- In Powerful Web3 Social Media platforms are the Future?

• Crypto Loyalty Reward Programs

Crypto Tokens are the new Holy Grail for Customer Rewards. While giants like Amazon spend a minuscule amount of their revenue on these programs, the scenario could be the exact opposite in the case of an up-and-coming retailer.

Mainly, blockchain technology can lower the cost of entry for many such companies due to its ability to be highly secure and decentralized.

Essentially, an aspect of blockchain-based loyalty programs is the ability to maintain a universal system across programs.

Further, the technology does a way better job than the current points systems. Redemption processes are clear, logical, and streamlined.

Read More Crypto Market – How to Find Pullback?

• P2E & M2E Game Development

Unlike P2E games that only require advancement or victory in the game to earn, M2E requires actual physical activity as a condition for earning rewards.

Especially, how much you earn directly depends on how much physical activity you engage in daily, unlike P2E, which rewards skills in the game.

The steps to build a play-to-earn (P2E( game are :

a.Build a 2D Web3 Game

b. Incorporate NFTs

c. Build a smart contract to Run a P2E Game.

d. Integrate Moralls and the Smart Contract.

Lastly, the market demand is constantly at an all-time high.

• Crypto Wallet Application/Software

Understand Blockchain and Cryptos

Use Standard Crypto Open-source Libraries

Use API’s

Go Cloud

Select the Right Tech. Stack

Check Out Your Competitors

Begin your App development.

• Crypto Coin /Token Development

Firstly, from most to least difficult, you can ;

a.Create your own blockchain and native cryptocurrency

b. Modify the code of an existing blockchain

c. Establish a new crypto on an existing blockchain.

d. Hire a blockchain developer to create a cryptocurrency on an existing blockchain.

Following are the top-notch token generator platforms in the global crypto market.

a. Coin.App

b.Tokenmint.io

c.Togen .io

d. Create My Token

e. The TokenLauncher

f. Tokenmaker.org

• AI-based Crypto Trading Bots

Firstly, trading bots are profitable as long as you can configure them properly. The best ones will obviously make a profit and it is essential to set to test them or have some sort of guarantee first before buying.

Secondly, a bot could make a 2% return for a day. Additionally, your chances to lose depending on the strategy you choose.

• Cross-border Payment Systems

Basically, cross-border payments are financial transactions where the payer and the recipient are based in separate countries. Generally, they cover both wholesale and retail payments, including remittances.

4 Ways Digital Innovation is transforming the Cross-border Payments Landscape

a. APIs enable Real-time FX rates

b. Technology enhances visibility and transparency

c. Virtual accounts increase global reach

d. Partnerships and blockchain create instant payments

• Crypto Crowdfunding Platforms

Are you looking to crowdfund a project? Or do you want to invest in your crypto holdings?

These platforms let you do both.

a.Gitcoin

b. QuantmRE

c. RealBlocks

d. Tallycoin

e. GameFi

f.CoinStarter

g. Tecra Space

Although crypto crowdfunding is still a developing industry, the future certainly looks bright for community-funded projects. As the next generation of the internet continues to grow to put it simply.

Lastly, through these platforms, we can see many more exciting projects that traditional forms of finance may have otherwise limited come to fruition.

• Crypto ATMs and Vending Machines

Firstly, Bitcoin ATMs are kiosks that allow a person to purchase Bitcoin and other cryptos by using cash or a debit card.

Additionally, Bitcoin vending machines typically work. For instance, a user deposits cash into the machine, and, in return, bitcoin is sent to their crypto wallet.

Unlike, traditional ATM machines, bitcoin ATMs do not give cash.

Secondly, Bitcoin ATMs cost between $3000 to $14000, depending on the model. Additionally, delivery and installation costs, taxes, and import duties are also included in the initial cost for an ATM.

ATMMachines.com offers sales and placement of Bitcoin ATM Machines., which allows users to buy and sell Bitcoin (BTC) and other cryptos.

• Trading Bot As a Cloud Service

Trade with Python. Firstly, trading bots are profitable for as long as you can configure them properly.

Additionally, it was found in a Google search that 90% of exchanges, trading systems, and data providers offer cloud-based data and services. Further, 67% of commercial and investment banks consume cloud-deployed market data.

Further, 90% of surveyed buy-side firms consume cloud-deployed market data, mostly for portfolio management.

Basically, a cloud-based trading environment offers flexibility and business continuity by allowing traders to work from anywhere.

Lastly, cloud platforms like Amazon, Microsoft, Google, etc are the best in the market.

• Blockchain – as a Service

Basically, blockchain-as-a-service is third-party cloud infrastructure and management. Further, which businesses use for developing and managing Blockchain applications.

Secondly, it operates as a web host which runs an app’s backend. Baas acts as a catalyst that leads to the widespread adoption of blockchain technology.

Furthermore, Oracle offers the Blockchain Cloud PaaS; a complete, production-ready blockchain platform based on the Hyperledger Fabric.

Benefits of Blockchain -as-a-service

Increases trust

Security

Transparency and the traceability of data shared across a business network deliver cost savings with new efficiencies.

Further, blockchain for business uses a shared and immutable ledger that can only be accessed by members with permission.

• Metaverse-powered Business

Firstly, Metaverse platforms have the potential to transform how, when, and where companies interact with their customers.

Secondly, extended reality platforms enable businesses to deliver new experiences and provide information in new ways.

Thirdly, making less expensive AR/VR headsets at a mass scale is definitely a foolproof metaverse business idea.

Additionally, you can build and monetize a recreational area where others can come to play a game and open a VR clothing store.

Further, you can even earn money by utilizing your skills as a builder by offering an architectural structure or digital creation in the metaverse.

Furthermore, you need to create a startup in the metaverse. Thereby, beginning your virtual journey.

• NFT 2D/3D

Firstly, NFTs are often used for 2D artworks on a blockchain, such as Ethereum. Not all metaverses sell assets in the form of NFTs; though also, many do.

Secondly, 3D NFTs are the latest trend in digital asset ownership. They are a form of digital asset that is unique, completely non-fungible, and immutable, allowing anyone to securely own and trade digital assets in a brand new way.

Thirdly, you can convert 3D images into NFT art. 3D NFTs are more valuable than 2D NFTs.

• Digital Banking Ecosystem

Firstly, digital banking ecosystems are collaborations built on partnerships that use technology to provide new products and services to clients.

Basically, the idea behind collaborative models like these is simple. Although no single bank cover all of its customer’s needs, a consortium of banks and digital companies can.

The following are 4 Pillars of digital banking :

Omni-channel banking

Smart banking

Modular banking

Open banking

An example of a digital banking ecosystem is an online banking app. Further, these mobile platforms combine multiple in-house and/or third-party banking services to provide customers with a single, unified interface.

Additionally, the 3 layers of digital banking systems are the workplace, the customer journey, and open banking.

Types of Digital Banking

a.UPI (Unified Payment Interface)

b.Internet banking

c. Mobile banking

d. Banking Cards

e. Mobile Wallets

f. POINT of SALE (PoS)

• Smart Contracts based MLMs

Mainly, Smart Contract MLM Software is a decentralized MLM platform. Which is based on smart contract protocols operating on a blockchain network.

MLM and a blockchain have a similarity. Additionally, they both have a peer-2peer model operating in a network. Needless to say, the amalgamation of the two is a powerful ecosystem.

• Medical E-records Management

Typically, instead of using the traditional centralized databases, the Ethereum-based blockchain is applied to our designed system framework. Basically, for medical record management to ensure the security of data.

Secondly, the medical records are stored within individual nodes in the blockchain networks by utilizing smart contracts.

Further, Blockchain’s distributed ledger technology facilitates the secure transfer of patient medical records. Additionally, it strengthens healthcare data defenses, manages the medicine supply chain, and helps healthcare researchers unlock genetic code.

moreover, the reputation of Patientory as one of the top healthcare blockchain companies is also evident in the facility of secure access to healthcare data.

Above all, the platform also provides personalized healthcare plans alongside rewards, which include NFTs.

The future of blockchain is very bright in the healthcare industry. Proponents of blockchain technology say we are on the cusp of a revolution in health care.

• Universal Digital Identities

Firstly, digital identity allows governments and corporations to have total visibility and traceability over people and things.

Basically, both physical and digital while determining which products, services, and information we will be able to access.

Mainly, a digital identity arises originally from the use of personal information on the web and from the shadow data created by the individual’s actions online.

Benefits of Digital Identities

a.Mobile-first solution

b.Establishment of a framework of trust

c.Smart city access

d.Digital Economy

e.Enhanced portability

f.Financial and social inclusivity

• P2P Cloud Storage Renting

Firstly, Peer-to-peer storage is a paradigm to leverage the combined storage capacity of a network.

Mainly, storage devices (peer) are contributed typically by autonomous end-users as a common pool of storage space to store data and share content.

Additionally, it is designed to provide persistence and availability of the stored content.

Basically, P2P Cloud Computing is a decentralized variant of the traditional cloud computing model.

Essentially, which offers its users the ability to share resources with each other, in such a way that at least laaS is preserved.

Mostly, the user needs to pay for the subscription. Further, the price depends on the services and subscribed storage space.

Here are 3 types of P2P networks

a.Unstructured P2P networks

b. Structured P2P networks

c. Hybrid P2P networks.

You can charge fees for usage of the network.

Conclusion

Mainly, as a long-term solution to data security, record keeping, and compliance, Blockchain has several uses that can make it simpler and faster for businesses to operate and grow.

Secondly, If this is something that tickets your fantasy to you are looking to build a career in this domain, opt for Blockchain courses online.

Further, these courses will help you get deeper knowledge on the subject and prepare you for what’s to come. Give your career a kick start and start earning money.

Read More Crypto Startups – Amazing 7 Startups

FAQs

What kind of business can you start on Blockchain?

Firstly, you can monitor and grow customer loyalty, Brand loyalty is a competitive game.

Secondly, exchange loyalty rewards

Thirdly, trade online advertising space

Further, sell targeted, single-source advertising

Additionally, verify luxury goods

Furthermore, protect valuables with a digital identity.

What are 5 future Blockchain applications?

1. Stock Trading

2. Healthcare Data Access

3. Crowdfunding

4. Wills and Inheritance

5. Voting

6. Cloud Storage

7. Decentralized Credit Scoring

8. Charity Accountability

Is Blockchain a good career in 2023?

Chiefly, blockchain developers are in high demand. According to a Linkedin study blockchain developers are one of the fastest growing and most sought-after technical skills in 2023. Blockchain developers are making 50-100% more than traditional developers.

What will replace the blockchain?

Mainly, DAG-based ledgers’ remarkable consensus mechanism results in a faster transaction speed. Chiefly, since DAG’s nodes are developed simultaneously, transaction speeds are almost always faster than blockchain transactions.

Which Blockchain is growing?

Firstly, Solana is the fastest blockchain in the world and the fastest-growing ecosystem in crypto. Mainly, with thousands of projects spanning DeFi, NFTs, Web3, and more.

Secondly, Solana ensures composability between ecosystem projects by maintaining a single global state as the network scales.

Which is the top blockchain development company in 2023?

Firstly, LeewayHertz is a top-tier blockchain development company with over 1.5 years of experience building enterprise applications.

Additionally, they specialize in delivering customized blockchain solutions to businesses of all sizes, utilizing their expertise in Hyperledger, EVM, Solidity, Cosmos, and Substrate.

What is the fastest Blockchain in 2023?

Cardano – Eco-friendly future blockchain

SushiSwap – Community-driven decentralized exchange

Ethereum – The OG smart contract platform

Solana etc.