Blockchain Industry Needs Sustainable Revenue Models, Not Just Lower Fees
Summary
- The cryptocurrency industry should move beyond the race to cut transaction fees and build sustainable revenue models, the report said.
- Nina Rong, BNB Chain's vice president of growth, said the real priority is not lower gas fees but a sustainable business model that can be reinvested in technology and growth.
- She cited gas fees and revenue sharing as well as commercial contracts between companies as ways to generate revenue, adding that blockchain companies need solid business structures.
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The cryptocurrency industry needs to move beyond competing to lower transaction fees and instead build sustainable revenue models, according to a view from within the sector. The argument is that blockchain companies need business structures that can support continued technology development and ecosystem investment.
Nina Rong, BNB Chain's vice president of growth, referred in a Sept. 5 post on X to the debate over which blockchain is best suited for Robinhood. "Lowering gas fees further is no longer the blockchain industry's top priority," she wrote.
Instead, the real priority for every blockchain is to find a sustainable business model that can be reinvested in technology and growth, Rong said. Options for generating revenue include gas fees, revenue sharing and commercial contracts between companies. The issue is not just the level of fees, but also how to secure the funding needed to operate and develop networks.
Rong added that blockchain foundations have spent the past five years focused mainly on grants, investment funding and lowering gas fees. To sustain those efforts over the next five years, blockchain companies need solid business structures.
