Best Blockchain Business Ideas In 2024 | Startup Ideas To Build On Blockchain

On 9th March 2022, the Fact Sheet of The White House published an article where they mentioned that up to 40 million adults in the US have invested in the blockchain platform and used cryptocurrencies. 

It also stated that over 100 countries around the globe are exploring the Central Bank Digital Currencies (CBDC). 16% of adults have purchased digital assets that touched the capitalization of $3 trillion globally.

Blockchain business opportunities are increasing rapidly in the era of digitalization, and people are joining with positivity. 300+ startups joined the blockchain platform in the year 2018 before the pandemic. After that, the whole world saw a downfall in the market.

But in 2021, the blockchain industry started booming and turning into a perfect place to run businesses and generate a huge amount of revenue. Today, it can be a wise investment for multiple businesses. 

To move your established business platform onto blockchain technology or to start your business on the blockchain platform, you can get in touch with RisingMax Inc. for the 360-degree solution from development to deployment and upgradation of the platform. 

Here in this blog, you will find the top blockchain business ideas you can start in 2024, which will be the best possible business ideas to excel in the marketplace. 

Blockchain Business Ideas That Will Grow in 2024

Here is the list of blockchain business opportunities that will grow in 2024 and will help you to keep your toes in the market of decentralization, and your business can be the early riser in the industry.

Breaking News

Celebrities are eager to join the NFT platform to join future technologies. Some of the most popular celebrities in the US and the world are on the NFT platform who have launched their NFTs into it and are also utilizing the blockchain-based metaverse platform for concerts and meet-ups. 

Snoop Dogg- The globally renowned rapper has joined the blockchain marketplace by launching its NFT on the platform.

Eminem: Who is not aware of the name ‘Eminem’? I guess nobody! The most popular rapper, songwriters, and record producer’s NFT are already on the blockchain platform.

Cristiano Ronaldo: The FIFA world cup is running everybody crazy worldwide as it is the most popular and developed game worldwide. Even the blockchain marketplace competitors are getting into the platform. Recently one of the most popular blockchain platforms, Binance, has launched the NFTs of Ronaldo. 

NFT Trading Platform 

The platforms like Binance, Opensea, SuperRare, etc., are some of the most popular NFT marketplaces that are making millions just by providing a platform for NFT lovers and investors around the globe.

The user joins the platform to invest in the platform, trade, etc. The NFT platform could have multiple uses. It can hold up the trading platform for cryptos, NFTs, and normal share trading of the companies. 

The major revenue generation source will be the users' commission for investing and withdrawing the amount. The NFT is worth millions, and even the smallest amount of commission will be enough for a customer. 

Blockchain-based NFT Gaming Platform

Gaming platforms are one such platform that has been in demand from day one after their invention. The gaming platform is the most traditional way to generate revenue, so what makes the NFT-based gaming platform a great option to generate revenue? The major benefit of developing NFT gaming is its model; in the NFT gaming platform, the user not only just invests money on the platform but also wins money in the form of NFTs. It can be the best blockchain business idea for the startup.

What Makes Blockchain-based NFT Games Better Than Centralized Games?

Centralized Games	Blockchain-Based NFT gaming Platforms
Users invest in buying an asset in the game but do not have complete ownership of the asset.	When users buy any digital asset on the platform, they also get complete ownership.
Digital assets do not have any uniqueness, although they are rare but not unique.	Digital assets on the platform are 100% unique, and none of the assets will be identical to each other.
The centralized gaming platform is easy to hack.	Blockchain is known for its high-end security. It is a decentralized platform, so it's almost impossible to hack till now.
The centralized gaming platforms have third-party interference in every single transaction.	The best thing about the blockchain is it omits any third-party interference, which also cuts the cost of commission for transactions.
High chances of fraud on the centralized platform.	No chance of any unfair means on the Blockchain gaming platform.

Web3 Social Media Platform 

The next blockchain business idea is developing a web3 social media platform like Instagram, Twitter, or YouTube. We all can see the recent activities on the Twitter platform. The major reason behind incidents is the monopoly in the market.

When the platform is centralized, they have to follow various rules and regulations of various states. People and platform owners are moving towards the decentralized platform because the blockchain world provides complete freedom of speech, where the rules of the one ruling authority do not apply. 

Build the web3 social media platform like Odysee, a perfect alternative to YouTube, and make a better and free space for content creators. 

For more knowledge about the Odysee clone app, you can also read our article, where we have covered the complete procedure of how you can build a platform like Odysee, what the scope is and why it is a better blockchain business. 

You are at the right spot if you are planning to get into the business market of the blockchain. Rsingmax Inc. provides free consultation services and can provide marketing services to give a kickstart to the platform.

Metaverse Dating App

The next possible blockchain business plan is metaverse dating application development. Metaverse is the most advanced technology that will be the next world for gen Z. The demand for dating applications has been booming in the market after the pandemic.

Currently, there are 323 million people on dating applications. But due to the loopholes like fraud, fake IDs, and other such issues, users are moving toward the blockchain platform. 

Build metaverse dating apps or make Hickey-like blockchain dating applications to be one of the early blockchain options for your users. The upcoming years are going to be the age of the metaverse. Be ready for the revolution today. 

To know the scope and benefits of the metaverse dating app you can also read 

Metaverse Dating App Development: Virtual Way Of Dating

Web3 Map Game

Most of us must be aware of one name: PokemonGo. There was a time when PokemonGo was booming in the market, and later on, PubG and Fortnite held the torch as the leading map games.

But now, the games are moving towards blockchain technology, where the company can get the earnings in a decentralized currency only and does not have to pay any transaction fees to banks.

The web3 map games can also be the perfect blockchain business plan for joining the leading gaming industry. The web3 map games can turn the table for your finances. As per the reports, the web3 and metaverse gaming platforms reached a total value of $748 million by the end of August 2022.

The number is saying much about how people; around the world are becoming dependent on blockchain technology for investment and earning from the platform. The play-to-earn business model has changed the complete perception of gaming enthusiasts globally. One place where they can not just invest but can win money as rewards.

School in Metaverse

The education sector is one of the most beneficial and reliable business startup ideas. And the scope of a learning institution on the blockchain-based metaverse platform has increased immensely in recent years.

While on web2, students can only attend online classes with the help of video conferencing, in the metaverse platform the students and teachers can be virtually present in the class and enjoy immersive learning. 

Online classes do not replicate the experience of being present in a class. No matter how real-time your experience is, the sense of being present in the class is better than attending one virtually. But, the metaverse is changing this with immersive learning. 

Multiple institutions on the global stage have been announced to be on the metaverse platform so that any student from any corner of the corner can be part of their institution and get the education and degree they want. Building a school on the metaverse can be one of the most successful blockchain business plans to build in 2024.

Benefits Of Blockchain Application

The major concern anyone can have when they are investing millions into any platform is why they should move from the traditional platforms to the completely new and developing arena.

And if they are investing in getting on to the new arena, what are the benefits of making this risky change? Here are some of the major reasons why a blockchain business plan is the best possible solution for startups in any field. 

• Blockchain technology is robust and comes with high-end security for blockchain-based applications. 
• When any deal happens on the blockchain it happens on the smart contract. The smart contract will be an immutable contract and no party can make any changes once the deal is done. 
• The smart contract on the blockchain platform prevents fraud by any of the parties.
• Blockchain technology provides the feature of 100% transparency between the users and the owner. The feature of complete transparency builds trust from both ends.
• The speed of transactions on the blockchain is unmatchable. Ethereum takes just 13-14 seconds to build one block on the platform and has 100,000 TPS. 

Blockchain Application Development Cost

When it comes to executing the blockchain business plan the first thing that comes into your mind is how much it will cost to develop a blockchain-based application. The development cost may vary on the multiple perspectives of the application that is to be built.

The size of the application, features you want to have in the platform, security features, etc. affect the development cost of the blockchain application. 

Level Of Complexity	Development Cost
Basic Level Application	$40k to $44k
Average Level Application	$45k to $60k
High-End Application	$65k to $90k

The development cost also depends on the size of the company you are hiring for the development of the blockchain application. 

Company Size	Cost	Manpower
Small Size Company	$2,000 to $ 25,000	50-200
Mid Size Company	$25,000 – $2,00,000	200-1000
Large Size Company	$4,50,000 to $15,00,000	1000-10,000

The amounts mentioned above are approximate prices and they may vary from company to company and are per the demand for features and technologies to be used for the blockchain.

Conclusion 

We have shared some of the most rewarding blockchain business ideas which will boost the marketplace in the coming years. You can hire us as your blockchain application development company for executing your blockchain business plan and getting into the market of large possibilities and scope.