How to Earn Money with dApps

With the development and maturity of dApps in the past 3 years, the question of how to make money with dApps has attracted widespread attention from big companies and startups.

According to Onchainfx, over 90% of ETH transactions go through IDEX exchange, so there is vast potential for development of dApp’s business model. With the rising popularity of dApps, this industry will succeed in a few years (2023-2025). It’s estimated that in 2023 dApps will make up nearly 60% of all applications on the internet.

ProCoders will tell you how to create a dApp and monetize it in this article. We will also examine the top 3 decentralized app ideas to make money. So if you’re looking to boost the financial potential of your project, this article is worth reading!

Market Size and dApps Future

The dApps market is expected to reach $368.25 billion by 2027 at a CAGR of 56.1% (Emergen Research). The market is anticipated to be driven by the rising popularity of decentralized applications and their increased adoption as a substitute for traditional web applications.

This growth is partly because blockchain technology has become more accessible over time. A large part of this accessibility comes from smart contracts – programmable contracts executed on a blockchain network. These contracts have made it easier for businesses and individuals to use dApps without technical knowledge about how they operate or function on their networks.

The other major factor contributing to the growth of this market is that there are more specialists acquiring the necessary skills and making competition to those who are already for a long time in this fieldм.

What are Decentralized Applications in Blockchain?

Decentralized applications, or dApps, are software types that run on a peer-to-peer network. This means that no single entity controls the application. Instead, application users control the system through their interactions with it.

dApps are built on top of blockchain technology. It creates a decentralized database that is shared among all users on the network. This means no central server where an individual or group can manipulate data.

Business Benefits From Concentrate on Decentralization?

Here are some ways decentralization can help your business:

Security and Transparency

Decentralized systems are more secure than centralized ones because they allow users to verify transactions independently without needing a third party to do it for them. This means there is no single point of failure, which means that hackers cannot access your data or money if they want to steal it from you!

Cost-Effectiveness

You don’t need expensive hardware or software to run decentralized applications. You only need an internet connection and a device with some computing power (e.g., a smartphone or laptop). This makes them much cheaper than centralized alternatives such as servers which companies like Amazon Web Services or Microsoft maintain. 

Increased flexibility

With dApps, you can change how your software works to fit your needs. For example, if one feature doesn’t work out as well as expected, you can easily remove it without starting with another developer or re-write the code yourself. This makes dApps a great tool for developing new products quickly and cheaply so your company can adapt quickly to changing market conditions.

3 Best Decentralized App Ideas to Make Money 

As a business owner, you want to earn benefits from your dApps after creating them. ProCoders have gathered for you 3 best decentralized app ideas for you to mull over:

Decentralized App Ideas	Description	Potential Earnings
Decentralized Marketplace	A platform that allows users to buy and sell goods and services without intermediaries, utilizing blockchain technology for secure and transparent trading.	Profit from transaction fees.
Decentralized Gaming Platform	A platform that allows users to play games and earn rewards, utilizing blockchain technology for secure and transparent management of player data and rewards.	Profit from fees and a percentage of player rewards.
Decentralized Social Network	A platform that allows users to connect and interact without intermediaries, utilizing blockchain technology for secure and transparent data management.	Profit from charging fees for premium services.

How to Create a dApp?

It’s easier than you think! You can create a dApp easily by following these steps:

1. Define your vision. Before you begin creating your dApp, it is important to have a clear vision of what your dApp will do and what problem it will solve. This will help you create a development roadmap and determine the technology stack that best supports your dApp.
2. Choose a blockchain platform. Several blockchain platforms support the creation of dApps, including Ethereum, EOS, and TRON. Choose a platform that meets your scalability, security, and ease of development requirements.
3. Gather a team. To create a dApp, you will need a team of developers, designers, and project managers with experience developing blockchain applications. Consider outstaffing or hiring a dedicated team to develop your dApp.
4. Develop a smart contract. A smart contract is a self-executing program that runs on a blockchain platform. It defines the rules and logic of your dApp, including the management of transactions and the distribution of tokens.
5. Build a user interface. The user interface of your dApp should be easy to use and accessible to a wide range of users. Consider using a framework such as React or Angular to build a user-friendly interface.
6. Test and deploy. Once you have completed development, it is important to thoroughly test your dApp to ensure that it is secure and functional. After testing, you can deploy your dApp to your chosen blockchain platform.
7. Launch and promote. Launch your dApp and start promoting it to attract users. Consider offering incentives such as bonuses or discounts to encourage early adopters. Continuously monitor and improve your dApp to ensure its success and growth.

What Are the Monetization Models of Traditional Apps?

Monetization models are one of the essential parts of any app. Without a good monetization model, your business will never succeed, as you would only invest money in development and impovements.

There are many different types of monetization models for traditional apps. Each one serves various purposes and works with different types of applications. Here are some of the most common monetization models:

• Free version with in-app purchases (IAP)
• Freemium model, premium functionality
• Subscription model

How to Monetize Your dApps?

When monetizing your dApps, you can use a few traditional methods. These include in-app purchases, advertising, and subscription models. However, dApps also provide unique monetization opportunities. 

• One such opportunity is through the use of smart contracts. Smart contracts allow you to automate payments and revenue sharing, which can help you earn revenue from your dApp without manually managing transactions. 
• Another unique opportunity is using decentralized finance (DeFi) protocols. DeFi protocols can enable you to earn revenue through various financial instruments such as lending, borrowing, and liquidity provision. 
• You can also monetize your dApp by issuing your own cryptocurrency or token, which users can purchase and use within the dApp.

How Can ProCoders Assist You with dApp Development?

ProCoders are ready to pick up your project at any stage of development. Whether you are at the beginning of the planning stage, in the middle, or your project has already been launched, and you need to support its work – we are ready to provide you with our services.

Our team can help you with thorough dApp development thanks to the Discovery phase and Staff Augmentation. The Discovery phase is the first step in the development planning. It’s about creating the roadmap, studying your project, and its features, planning the development stages, and estimating them in terms of time and costs. After that, you can hire your own in-house team or use our Staff Augmentation or Dedicated Team services to proceed with the successful work.

ProCoders have a whole base of developers and other necessary staff to help you create the best dApp. Our talents are highly experienced in developing these applications, are easy to integrate into the work. 

Conclusion

DApps are revolutionizing the crypto economy by providing a secure, cost-effective, and flexible way to interact without intermediaries. Decentralization has many benefits for businesses, and dApps offer a variety of monetization strategies, including gaming. Our top three dApp ideas for making money are a decentralized marketplace, a gaming platform, and a social network. Creating your own dApp is easier than you think, and our team at ProCoders can help you every step of the way. Our experienced dApp developers can help you monetize your dApp through smart contracts, DeFi protocols, or issuing your own token. Let us help you make money with your project!