Ethereum’s market value boomed in 2021, making it an unattainable blockchain for many project leaders, especially considering the high gas prices. However, thanks to “The Merge”, which converted validation from proof-of-work to proof-of-stake, the gas prices are eliminated and Ethereum is much more affordable. With this in mind, we’ve put together the top 6 Ethereum-based business ideas to explore in 2023.
Open An Ethereum Day Trade Account
Day trading is a great way to earn a profit through cryptocurrencies, including Ethereum. However, you need to understand the volatility of the landscape, the jargon, and the strategies. For example, learning how to read cryptocurrency price charts, such as the one found here for Ethereum, will be essential: https://www.okx.com/markets/prices/ethereum-eth.
Create a Decentralized App
Decentralized apps (DApps) are built on blockchain servers like Ethereum and Solana. They come in all shapes and sizes including games, financial services, payment solutions, and much more. All data held within a decentralized app is transparent and secure, meaning users have more power. To gain investment for a decentralized app, you will need to call on the community and launch funding rounds.
Start An Ethereum Forum
The community has the power to make blockchain tech soar, but it also has the potential to make it crash and burn. Therefore, starting an Ethereum-based forum is a great business idea. You may be wondering how you can compete with giants like Reddit, but users looking for a community invested in Ethereum would much rather use a dedicated space than a general forum.
Create Online Courses
Blockchain and crypto are still relatively new in the mainstream space, meaning people are looking to learn. If you consider yourself an expert in a particular area of blockchain, like Ethereum, you can create digital courses and sell them to clients. However, you will likely need a healthy community already, which you can build by creating an authoritative blog first. Further, with your blog in place, there are plenty of other monetization strategies including affiliate marketing.
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Build A Crypto-Based Real Estate Business
Blockchain is being used in real estate for many different reasons, including minting portfolios to improve liquidity in the market and streamline sales. You can either create a dedicated real estate NFT marketplace or invest in real estate and trade assets across different markets. Each of these options carries risk and reward, so make sure you carry out plenty of research.
Open An Ethereum News Website
The crypto community is constantly on the lookout for breaking news, so build a website dedicated to sourcing the most recent news. To do this, you will need to be active across social media channels including Twitter and Reddit. Additionally, you need to observe the markets and keep a watchful eye for any controversial shifts.
Blockchain has only recently begun entering the mainstream space, so now is the time for starting an Ethereum-based business. No matter what your interests are, there is bound to be a viable business idea.