10 Best dApps to make money

There are loads of ways to make money online, but decentralized applications (dApps) are worth a look. These blockchain-powered apps offer a great way to create a steady monthly income stream.

The Booming dApp Market: Opportunities for Earning in 2024

The dApp market is experiencing significant growth. Daily Active Wallets reached 7 million in Q1 2024, marking a 77% increase from the previous quarter. DeFi’s Total Value Locked (TVL) hit $175 billion by February 2024, reflecting its importance in the ecosystem. Additionally, the NFT market recorded Q1 trading volumes of $3.9 billion.

The dApp market is set to keep on growing, which is great news for everyone involved. But what are dApps, and how can you make the most of this potential to start earning?

Let’s delve deeper and explore the exciting possibilities of earning with dApps!

What are dApps and their Benefits?

dApps, or decentralized applications, are a new breed of apps that operate differently than the ones you’re used to on your phone. Instead of relying on a single company’s servers, dApps run on a distributed network of computers called blockchains. This shift to a decentralized approach unlocks several advantages:

• Enhanced Security and Transparency: Blockchain technology makes dApps highly secure. Transactions are facilitated through smart contracts, which are self-executing code that automates tasks in a secure and transparent way.

• Financial Innovation: dApps act as gateways to the exciting world of decentralized finance (DeFi). They allow you to participate in innovative financial activities like buying, selling, and trading digital assets in ways not possible before.

• Expanded Functionality: dApps go beyond just financial services. Imagine a future where you can borrow, lend, invest, and even manage all your assets through a secure and transparent dApp.

But the benefits of dApps extend far beyond their functionality:

• Secure Networks: Built on robust blockchains like Ethereum, dApps leverage smart contracts to ensure secure and tamper-proof transactions.

• Open Source Code: dApps are open-source, meaning their code is freely available for anyone to inspect. This fosters trust and transparency, as it reduces the risk of hidden agendas or manipulation within the application.

• Censorship Resistant: Unlike traditional platforms controlled by a single entity, dApps are resistant to censorship. There’s no single point of control over the network, making it difficult for anyone to shut down or restrict access to a dApp.

• Always Up and Running: Distributed ledger technology ensures that dApps are constantly available. There’s no single point of failure, so you can expect uninterrupted service compared to traditional applications that rely on centralized servers.

How dApps Make Money ?

Unlike traditional apps that rely on in-app purchases or subscriptions, dApps have developed innovative ways to generate revenue. Here are some key methods:

• Native Utility Tokens: Many dApps create their own cryptocurrency tokens. These tokens can be used for various purposes within the dApp, such as paying for transactions, accessing premium features, or even governance (voting on decisions that affect the dApp). The value of these tokens can fluctuate based on supply and demand within the dApp’s ecosystem.

• NFTs (Non-Fungible Tokens): NFTs are unique digital assets representing ownership of in-game items, artwork, or even virtual land within a dApp. Users can buy, sell, or trade these NFTs, and dApps often take a commission on these transactions. Owning NFTs can also grant access to exclusive features or benefits within the dApp.

• Transactional Fees: Many dApps charge transaction fees for using their services, similar to how traditional financial institutions might. These fees can be a flat rate or a percentage of the transaction value. They help cover the costs of maintaining the dApp’s infrastructure and incentivize network participants.

• Asset Management: Some dApps specialize in managing user investments or crypto assets. These dApps may charge fees for their services, similar to how traditional asset management firms operate.

Advertising: While less common, some dApps might explore advertising as a revenue stream. However, the focus within the dApp space is often on user privacy and a decentralized experience, so advertising may not be as prevalent as in traditional apps.

10 dApps You Need to Start Making Money

The dApp market is brimming with possibilities for earning a crypto income. Here, we explore some of the most popular categories and specific dApps within them:

A. Financial dApps (DeFi)

DeFi (Decentralized Finance) dApps are apps built on blockchain tech that offer financial services without the need for traditional institutions like banks. This means you can potentially borrow, lend, and earn interest faster, with more transparency, and without geographical restrictions. DeFi is all about making the financial system more open and inclusive.

Here are the 5 top contenders:

1. Uniswap (Uniswap.org):

A top decentralized exchange (DEX) built on the Ethereum blockchain. Uniswap lets users swap different cryptocurrencies directly, without having to rely on a central authority. Users can also provide liquidity (which is really important for smooth trading) and earn fees in return.

How to Make Money on Uniswap?

1. Swapping Cryptocurrencies:Trade various cryptocurrencies on Uniswap. By timing your trades based on market trends, you can profit from the price differences.

2. Providing Liquidity: Add your cryptocurrency assets to Uniswap’s liquidity pools to make trading on the platform easier. As a bonus, you get a cut of the transaction fees from trades within the pool. The fees are distributed in proportion to your share of the pool.

3. Yield Farming: Some projects offer extra incentives in the form of tokens for providing liquidity to specific pools. These rewards are on top of the transaction fees, which means you get a better return.

4. Staking UNI Tokens : If you hold Uniswap’s native token, UNI, you can use it to stake in governance proposals on various platforms. Here are a few options for you to consider:

• Uniswap Protocol: This is the main place to stake UNI tokens. By getting involved in the governance of the protocol, you can help shape its future and potentially earn rewards.
  
  
• Staking Rewards: This site compares different providers for staking UNI, showing you the reward rates and other relevant details. It can help you find the best platform for your needs.
  
  
• Governance Forums: Some forums, like the Wormhole governance forum, let token holders stake their tokens and take part in decision-making processes, which might also offer staking rewards.

5. Arbitrage Opportunities: Make the most of the price differences between Uniswap and other exchanges. You can buy a cryptocurrency at a lower price on one platform and sell it at a higher price on another.

2. Aave (Aave.com):

A cutting-edge DeFi lending platform that makes it easy to borrow and lend cryptocurrencies. Borrowers can get loans based on their collateral, while lenders can earn interest on their holdings. Aave offers flexible interest rates and supports a range of crypto assets.

How to Make Money on Aave ?

1. Lend Your Assets: You can put your cryptocurrencies into Aave’s pools. These pools let others borrow your assets, and you earn interest on your deposits. The interest rates can change or stay the same, depending on the market and your choice.
   
   
2. Borrow Assets: If you need money, you can borrow cryptocurrencies from Aave by putting up some of your own crypto as collateral. This way, you can get access to your money without having to sell your crypto holdings.
   
   
3. Flash Loans: Aave offers flash loans, which let you borrow assets without having to put up any collateral. You just have to repay the loan in the same transaction. These are great for quick trades or refinancing other loans.
   
   
4. Staking: You can also earn rewards by staking, which basically means locking up your AAVE tokens to support the network. As a bonus, you’ll get extra tokens as a reward.

By getting involved in these activities, you can earn interest, get loans without selling your assets, and benefit from staking rewards, which means you can make money with Aave.

3. Compound (Compound.finance):

A DeFi protocol that lets users earn interest on their crypto holdings by supplying them to liquidity pools. Borrowers can use these pools to access crypto loans. The way it works is that Compound automatically adjusts interest rates based on supply and demand, which creates a dynamic lending ecosystem.

To make money on Compound, follow these steps:

1. Supply Crypto Assets: Just drop your crypto assets into the Compound protocol. Once you’ve added your assets to the liquidity pool, they’re ready to be borrowed. You’ll earn interest on your deposited assets. The interest rates change depending on how much of each asset there is in the market.
   
   
2. Earn COMP Tokens: As well as earning interest, you can also earn COMP tokens, Compound’s native governance tokens. These tokens are given out to both lenders and borrowers based on what they do on the platform. You can hold on to COMP tokens for potential value appreciation or sell them on the market for profit.
   
   
3. Leverage Assets: You can use your deposited assets as collateral to borrow money. You can use the borrowed funds to invest in other opportunities, which could increase your overall returns. Make sure your collateral is worth enough to avoid having to sell it.
   
   
4. Interest Rate Arbitrage: Make the most of the current interest rates by borrowing assets at a lower rate and investing in assets that yield a higher rate. This strategy needs to be monitored carefully to make sure you’re keeping an eye on interest rates and market conditions.

By taking part in the Compound protocol, you can earn interest, get your hands on COMP tokens and find out more about other ways to boost your earnings.

4. MakerDAO (MakerDAO.com):

A one-of-a-kind DeFi platform built on Ethereum, complete with its own stablecoin, DAI. Users can get DAI by putting other crypto assets up as collateral. MakerDAO uses a system of smart contracts to manage the DAI supply and keep it pegged to the US dollar.

How to Make Money on MakerDAO?

Generate DAI by Depositing Collateral:

• Deposit Ethereum or other accepted crypto assets into a Maker Vault.
• Generate DAI stablecoins by locking your collateral in the Vault.

Earning Interest with DAI:

• Deposit your DAI into DeFi protocols that offer interest for holding DAI.
• Several DeFi protocols, including Origin Protocol, Cake DeFi, Summer.fi, and Spark Protocol, allow users to earn interest on DAI by staking or depositing it.

Arbitrage Opportunities:

• Utilize price differences between DAI and other stablecoins or fiat currencies to make profits through arbitrage trading.

Participate in Maker Governance:

• Hold MKR tokens to participate in governance.
• Influence the protocol’s decision-making and potentially benefit from the appreciation of MKR tokens.

5. PancakeSwap (PancakeSwap.finance):

A popular DEX built on the Binance Smart Chain (BSC), offering users a fast and low-cost alternative to Ethereum-based DEXes. PancakeSwap lets you swap tokens, take part in yield farming (earn interest by providing liquidity), and even stake tokens (hold them for rewards).

How to make money on PancakeSwap?

Swapping Tokens: You can trade various cryptocurrencies on PancakeSwap. If you buy low and sell high, you can make money from price fluctuations.

Yield Farming: Yield farming is all about making sure PancakeSwap has the liquidity it needs. By putting your tokens in these pools, you get a share of the fees generated by trades made with those tokens. Plus, you can earn CAKE, PancakeSwap’s native token, as a reward.

Staking: PancakeSwap lets users put their CAKE tokens into Syrup Pools. The more you stake, the more CAKE or other tokens you’ll earn as rewards over time.

Lottery: PancakeSwap has a lottery system where you can buy tickets using CAKE tokens. If your ticket numbers match the winning numbers, you could be in with a chance of winning a nice sum of CAKE.

NFT Marketplace: PancakeSwap’s NFT marketplace is the place to go if you want to buy, sell or trade NFTs. You can make money by buying NFTs at a lower price and selling them at a higher price.

B. Gaming dApps (Play-to-Earn)

Play-to-earn (P2E) games have really taken off, offering players the chance to earn crypto through gameplay. Here are some of the top P2E dApps:

6. Axie Infinity (AxieInfinity.com):

A game where players collect, breed, and battle adorable creatures called Axies in a monster-battling game. Axies are NFTs (non-fungible tokens) that can be valuable and traded on the marketplace. Players can earn crypto (SLP) by battling, breeding, and taking part in various in-game activities.

There have been some big changes in the Axie Infinity market. There was a big surge in interest in the game in 2021, but that has slowed down a bit recently. The market is currently in a slump, which has made it less popular than before. But don’t hesitate to take a look at ScapesMania, which looks just as promising.

Price Trends and Investment Opportunities

The AXS token price has dropped significantly from its all-time high of over $160. This decrease in price means lower entry costs for new players. While this might present a good opportunity to start playing, the potential for profit is not as clear as it once was.

Starting Your Axie Infinity Journey

To get started with Axie Infinity, you’ll need to purchase three Axies. Right now, Axies are on the market for a lot less money. Sometimes you can get them for as little as $7 or $9. This is great for new players who don’t want to spend a lot of money to get started.

To Make Money with Axie Infinity, You Can Engage in Several Activities within the Game:

1. Battles and Quests: By taking part in battles and completing quests, you can earn Smooth Love Potions (SLP). You can sell them on cryptocurrency exchanges for real money.

2. Breeding and Selling Axies: It’s definitely worth looking into breeding Axies, especially with the reduced cost of SLP tokens. This means players can create unique combinations at a lower cost, and potentially sell rare Axies for a profit. However, breeding success depends on a bit of luck and what the market is demanding at the time.

3. Staking AXS Tokens: If you’re not interested in playing the game, you can still earn by staking AXS tokens. By locking up AXS tokens, players can earn returns without actively participating in the game. Platforms like Binance offer staking options, which is a great way to generate passive income.

4. Investing in Lunacia Land: It’s also worth noting that buying and investing in land within the Axie Infinity universe can be a profitable move. You can also make money from other players who use your land for activities.

5. Ranked Battles: Take part in ranked battles to earn Axie Experience Points (AXP), which can boost the value of your Axies over time.

Axie Infinity Scholarships are Still an Option

While profitability has gone down, Axie Infinity Scholarships are still a great way to play and earn without making an initial investment. You can find scholarship opportunities by searching online or by joining communities like the ones on Reddit.

Here are some resources to get you started:

• Scholarship programs listed by profit sharing and earnings: CoinGecko
• Video on Axie Infinity Scholarship Plans for 2024:

Axie Infinity Scholarship Plans 2024 REVEALED! | Axie Origins Update

Keep in mind that since Axie Infinity is less popular now, competition for scholarships might be higher

7. Alien Worlds (AlienWorlds.io):

Alien Worlds is a game where you can earn money by mining resources, staking tokens, and trading NFTs.

So, how do you make money on Alien Worlds?

1. Mining Trilium (TLM): As a player, you can mine Trilium (TLM), the in-game currency, by selecting a planet and a piece of land to mine on. The amount of TLM you earn depends on the tools you use and the mining power of the land.

2. Earning and Trading NFTs: As you play, you can earn various NFT items, such as tools, minions, and avatars. You can also trade or sell these NFTs on NFT marketplaces like AtomicHub, which is another way to make money.

3. Staking Trilium: Players can put their TLM in planetary DAOs (Decentralized Autonomous Organizations) to earn more TLM and get involved in governance. This passive income method can be pretty lucrative, depending on how much you stake and the planet’s reward structure.

4. Participating in Missions: Players can earn rewards by completing missions and quests in the game, including TLM and rare NFTs. These activities often require a bit of strategy and teamwork, which adds another layer to the earning potential.

5. Trading on Marketplaces: You can buy and sell both TLM and NFTs on secondary markets. If you’re a skilled trader, you can make money by buying low and selling high, taking advantage of market trends.

8. Farmers World (FarmersWorld.io):

It’s a virtual farming game where players can cultivate crops, raise animals, and manage their own farms. Farmers World uses the WAX token, which you can earn through gameplay and use for in-game purchases or trading on cryptocurrency exchanges.

To make money on Farmers World, follow these steps:

1. Create a WAX Wallet: To participate in Farmers World, start by creating a WAX wallet. Visit WAX.io to set up your wallet using your email or social media accounts.
   
   
2. Acquire Tools: Purchase essential tools like an axe or fishing rod to begin mining and farming activities. These tools are crucial for extracting resources.
   
   
3. Mine Resources: Utilize your tools to mine various resources such as WOOD (FWW), FOOD (FWF), and GOLD (FWG). These resources are vital for crafting and other in-game activities.
   
   
4. Craft and Upgrade: Use mined resources to craft new tools and upgrade existing ones. This will improve your efficiency and increase your returns.
   
   
5. Sell Resources and NFTs: Harvest GOLD and other resources, then sell them on the marketplace. You can also create and trade NFTs within the game for potential profits.
   
   
6. Monitor Costs and Earnings: Track your investments and earnings to optimize your strategy. Some players report specific earnings based on their investment in tools and resources.

Additional tips for optimizing your strategy:

• Invest in Membership Packs: Membership packs offer extra slots, energy, and higher reward rates, significantly boosting your earning potential.
  
  
• Participate in Giveaways: Engage in community giveaways by submitting your WAX address in relevant videos or posts for a chance to win valuable NFTs or resources.
• Reduce Withdrawal Fees: Recently, withdrawal fees for GOLD, WOOD, and FOOD have been reduced from 10% to 5%, allowing you to retain more of your earnings.
  
  
• Take Advantage of Lucky Packs: Purchase lucky packs for a chance to obtain valuable NFTs or other rewards, enhancing your inventory and increasing your earnings.
  
  

Follow updates and content from reliable sources to stay informed about new strategies, tools, and opportunities within Farmers World.

9. The Sandbox (TheSandbox.game):

It’s a metaverse game built on Ethereum that lets users buy virtual land, create voxel assets and develop game experiences. The Sandbox’s native token, SAND, is used for in-game purchases and can be earned through gameplay and contributing to the ecosystem.

How to Make Money on The Sandbox?

To make money in The Sandbox, you can use several methods leveraging its blockchain-based ecosystem:

1. Creating and Selling Assets: Design and sell unique digital assets like avatars, equipment, and decorations as NFTs on The Sandbox’s marketplace. This allows you to earn from your creative efforts.

2. Developing Games: Use The Sandbox Game Maker to create games. These games can be monetized by charging players for access or incorporating in-game purchases, making game development a lucrative opportunity

3. Owning and Renting LAND: Purchase virtual real estate (LAND) in The Sandbox. You can lease this LAND to other players or developers, or use it to host experiences and events that generate revenue. As the demand for LAND increases, its value is likely to rise

4. Staking SAND Tokens: Stake SAND tokens to earn passive income. By locking up your tokens in a smart contract, you can receive rewards over time.

5. Playing Games: Earn SAND tokens by participating in various games and experiences within The Sandbox. Some games are free to play, while others might charge an entry fee, and rewards can be earned by completing in-game tasks and challenges.

10. Decentraland (Decentraland.org):

Another popular metaverse project where players explore a virtual world, purchase land, create avatars, and participate in social activities. Decentraland’s token, MANA, facilitates in-game purchases like wearables and land parcels.

10 ways to make money in Decentraland

How to Make Money on Decentraland?

1. Invest in Virtual Real Estate: Purchase LAND, develop it, and then sell it for a profit. LAND can be used to build attractions, businesses, or event spaces that generate revenue.

2. Rent Out LAND: If buying LAND is cost-prohibitive, you can rent it out either directly from the owner or through platforms like Rentabyl.

3. Buy and Hold MANA: Purchase Decentraland’s native cryptocurrency, MANA, and hold it as an investment. The value of MANA can increase over time, providing a profit when sold.

4. Work for Companies in Decentraland: Various companies in Decentraland, like Decentral Games, hire people for different roles such as hosts, support staff, and technical positions. Pay varies based on responsibilities and hours worked.

5. Play-to-Earn Games: Participate in games within Decentraland that reward you with NFTs or other valuable items. These can be sold to other players for profit.

6. Create and Sell Wearables: Design digital clothing and accessories, then sell them in the Decentraland marketplace. This requires 3D modeling skills and an initial investment to get approved.

7. Develop and Sell NFTs: Create NFTs that grant access to exclusive content or communities. Selling these can provide a steady income, especially if they offer valuable utilities.

8. Host Events: Organize events like treasure hunts or virtual concerts and charge entry fees. You can also sell NFTs during these events.

9. Freelance Work: Offer your services as a freelancer in Decentraland. This can include 3D modeling, coding, digital art, and more. Many users seek out freelance help for their projects.

10. Content Creation: Create videos, tutorials, and other content related to Decentraland. While this may not directly pay, it can drive sales of your other creations, like wearables or NFTs.

C. Other dApp Categories

The landscape of decentralized applications (dApps) is continuously evolving, with new categories emerging. Two notable examples are social dApps and NFT marketplaces.

Social dApps

Social dApps use blockchain technology to create decentralised social networks, giving users more control over their data and privacy. Just to give you a few examples, there’s Minds (minds.com) and Peepeth (peepeth.com).

As an investor, there are several ways to earn money with social dApps:

1. Token Investment: Buy and hold tokens issued by social dApps. As the platform gains more users and popularity, the value of these tokens can go up, which means you can make a return on your investment.

2. Staking and Yield Farming: Get involved in staking or yield farming by locking up your tokens in a social dApp’s ecosystem to earn rewards or interest, often in the form of additional tokens.

3. Initial DEX Offerings (IDOs): Invest in new social dApps through their initial DEX offerings. If the dApp takes off and its token goes up in value, this early-stage investment could be very profitable.

4. Revenue Sharing: The traditional social media model means that profits are concentrated in the hands of a few large platforms. Decentralised applications (dApps) are shaking things up by offering revenue sharing with token holders. These platforms share a portion of their earnings with users who hold their tokens.

This can be a great way for investors to make money without having to do much work, while also encouraging users to engage with the platform and grow it.

Here are a few examples of social dApps that share revenue with token holders:

• Social Media Platforms:
  
  
  • Deso : A social network where users own their data and content. You earn DESO tokens by doing things like posting and curating content. You can then use them to tip creators and to help run the network.
    
    
  • Rally : A platform for creators to launch their own social tokens. These tokens can be used to access exclusive content, cast votes, and get discounts on merchandise.
    
    
• Content Creation and Sharing:
  
  
  • Theta Network: A decentralized video streaming platform that rewards viewers for sharing bandwidth. THETA tokens can be staked to earn rewards from video streaming.
    
    
  • Livepeer: Another decentralized video streaming platform with a similar reward structure to Theta. Users stake LPT tokens to earn rewards for contributing bandwidth to the network.
    
    
• Gaming:
  
  
  • Playable : A platform for discovering and playing blockchain-based games. PLAY tokens are earned through in-game activities and can be used for purchasing NFTs and participating in governance.

5. Liquidity Provision: Give decentralised exchanges (DEXs) that support social dApps the liquidity they need. You can earn fees from trades that happen within the liquidity pools you contribute to.

Just to give you a couple of examples:

•  zkSync Era is a layer-2 scaling solution for Ethereum that has a growing ecosystem of dApps, including social dApps like Lens Protocol and Project Galaxy. These dApps allow users to create profiles, follow each other, and earn badges for their on-chain activity.
  
  
• The Open Network (TON) is a layer-1 blockchain that is designed to be fast and scalable. TON has a number of social dApps in development, such as TONplace, which is a decentralized social media platform.

NFT Marketplaces

While OpenSea remains the dominant player, specialized NFT marketplaces for specific industries like art or music are gaining traction. Examples include Rarible for art and Foundation for digital collectibles. Here are ways to profit from NFTs:

1. Buy and Hold (HODL): Purchase NFTs you believe will appreciate in value over time. This strategy involves thorough research to select NFTs with strong potential for future value.

2. Trading: Buy NFTs at a lower price and sell them at a higher price. Active trading requires staying updated on market trends and understanding the value of different NFTs.

3. Staking: Some NFT platforms offer staking options where you can lock your NFTs in a protocol and earn rewards or interest.

4. Royalties: If you create and sell NFTs, you can earn royalties every time your NFTs are resold. This passive income stream continues as long as the NFT changes hands.

5. NFT-based Games: Invest in NFTs used in blockchain games. As the popularity of the game increases, the value of in-game NFTs can rise, offering potential profits.

6. Virtual Real Estate: Purchase virtual land or properties in the metaverse. As virtual worlds grow, the demand for virtual real estate can increase, boosting your investment’s value.

New decentralized applications (dApps) are continually emerging, though many also vanish quickly. It’s essential to research thoroughly before investing time or money in any dApp. Prioritize established dApps with strong communities and positive user reviews.

The cryptocurrency market’s volatility means there is always a risk of losing your investment.

Consider exploring dApps like Uniswap, Axie Infinity, and The Sandbox for potential earning opportunities. These dApps are built on secure blockchains, ensuring transparency and introducing innovative revenue models. Have you checked out any promising dApps lately?