Ethereum's blockchain rules NFTs. Many consider it the one-stop shop for NFTs, and it's become the most talked-about and trafficked blockchain in existence.

Other blockchains are becoming popular in NFTs. Crypto-artists and NFT enthusiasts have sought new places to mint and trade NFTs due to Ethereum's high transaction costs and environmental impact.

When choosing a blockchain to mint on, there are several factors to consider. Size, creator costs, consumer spending habits, security, and community input are important. We've created a high-level summary of blockchains for NFTs to help clarify the fast-paced world of web3 tech.

Ethereum

Ethereum currently has the most NFTs. It's decentralized and provides financial and legal services without intermediaries. It houses popular NFT marketplaces (OpenSea), projects (CryptoPunks and the Bored Ape Yacht Club), and artists (Pak and Beeple).

It's also expensive and energy-intensive. This is because Ethereum works using a Proof-of-Work (PoW) mechanism. PoW requires computers to solve puzzles to add blocks and transactions to the blockchain. Solving these puzzles requires a lot of computer power, resulting in astronomical energy loss.

You should consider this blockchain first due to its popularity, security, decentralization, and ease of use.

Solana

Solana is a fast programmable blockchain. Its proof-of-history and proof-of-stake (PoS) consensus mechanisms eliminate complex puzzles. Reduced validation times and fees result.

PoS users stake their cryptocurrency to become a block validator. Validators get SOL. This encourages and rewards users to become stakers. PoH works with PoS to cryptographically verify time between events. Solana blockchain ensures transactions are in order and found by the correct leader (validator).

Solana's PoS and PoH mechanisms keep transaction fees and times low. Solana isn't as popular as Ethereum, so there are fewer NFT marketplaces and blockchain traders.

Tezos

Tezos is a greener blockchain. Tezos rose in 2021. Hic et Nunc was hailed as an economic alternative to Ethereum-centric marketplaces until Nov. 14, 2021.

Similar to Solana, Tezos uses a PoS consensus mechanism and only a PoS mechanism to reduce computational work. This blockchain uses two million times less energy than Ethereum. It's cheaper than Ethereum (but does cost more than Solana).

Tezos is a good place to start minting NFTs in bulk. Objkt is the largest Tezos marketplace.

Flow

Flow is a high-performance blockchain for NFTs, games, and decentralized apps (dApps). Flow is built with scalability in mind, so billions of people could interact with NFTs on the blockchain.

Flow became the NBA's blockchain partner in 2019. Flow, a product of Dapper labs (the team behind CryptoKitties), launched and hosts NBA Top Shot, making the blockchain integral to the popularity of non-fungible tokens.

Flow uses PoS to verify transactions, like Tezos. Developers are working on a model to handle 10,000 transactions per second on the blockchain. Low transaction fees.

Flow NFTs are tradeable on Blocktobay, OpenSea, Rarible, Foundation, and other platforms. NBA, NFL, UFC, and others have launched NFT marketplaces on Flow. Flow isn't as popular as Ethereum, resulting in fewer NFT marketplaces and blockchain traders.

Asset Exchange (WAX)

WAX is king of virtual collectibles. WAX is popular for digitalized versions of legacy collectibles like trading cards, figurines, memorabilia, etc.

Wax uses a PoS mechanism, but also creates carbon offset NFTs and partners with Climate Care. Like Flow, WAX transaction fees are low, and network fees are redistributed to the WAX community as an incentive to collectors.

WAX marketplaces host Topps, NASCAR, Hot Wheels, and cult classic film franchises like Godzilla, The Princess Bride, and Spiderman.

Binance Smart Chain

BSC is another good option for balancing fees and performance. High-speed transactions and low fees hurt decentralization. BSC is most centralized.

Binance Smart Chain uses Proof of Staked Authority (PoSA) to support a short block time and low fees. The 21 validators needed to run the exchange switch every 24 hours. 11 of the 21 validators are directly connected to the Binance Crypto Exchange, according to reports.

While many in the crypto and NFT ecosystems dislike centralization, the BSC NFT market picked up speed in 2021. OpenBiSea, AirNFTs, JuggerWorld, and others are gaining popularity despite not having as robust an ecosystem as Ethereum.

Blockchain validates transactions with consensus algorithms. Bitcoin and Ethereum use Proof-of-Work, while Polkadot and Cardano use Proof-of-Stake.

Other consensus protocols are used to verify transactions besides these two. This post focuses on Proof-of-Time (PoT), used by Analog, and Proof-of-History (PoH), used by Solana as a hybrid consensus protocol.

PoT and PoH may seem similar to users, but they are actually very different protocols.

Proof-of-Time (PoT)

Analog developed Proof-of-Time (PoT) based on Delegated Proof-of-Stake (DPoS). Users select "delegates" to validate the next block in DPoS. PoT uses a ranking system, and validators stake an equal amount of tokens. Validators also "self-select" themselves via a verifiable random function."

The ranking system gives network validators a performance score, with trustworthy validators with a long history getting higher scores. System also considers validator's fixed stake. PoT's ledger is called "Timechain."

Voting on delegates borrows from DPoS, but there are changes. PoT's first voting stage has validators (or "time electors" putting forward a block to be included in the ledger).

Validators are chosen randomly based on their ranking score and fixed stake. One validator is chosen at a time using a Verifiable Delay Function (VDF).

Validators use a verifiable delay function to determine if they'll propose a Timechain block. If chosen, they validate the transaction and generate a VDF proof before submitting both to other Timechain nodes.

This leads to the second process, where the transaction is passed through 1,000 validators selected using the same method. Each validator checks the transaction to ensure it's valid.

If the transaction passes, validators accept the block, and if over 2/3 accept it, it's added to the Timechain.

Proof-of-History (PoH)

Proof-of-History is a consensus algorithm that proves when a transaction occurred. PoH uses a VDF to verify transactions, like Proof-of-Time. Similar to Proof-of-Work, VDFs use a lot of computing power to calculate but little to verify transactions, similar to (PoW).

This shows users and validators how long a transaction took to verify.

PoH uses VDFs to verify event intervals. This process uses cryptography to prevent determining output from input.

The outputs of one transaction are used as inputs for the next. Timestamps record the inputs' order. This checks if data was created before an event.

PoT vs. PoH

PoT and PoH differ in that:

• PoT uses VDFs to select validators (or time electors), while PoH measures time between events.

• PoH uses a VDF to validate transactions, while PoT uses a ranking system.

• PoT's VDF-elected validators verify transactions proposed by a previous validator. PoH uses a VDF to validate transactions and data.

Conclusion

Both Proof-of-Time (PoT) and Proof-of-History (PoH) validate blockchain transactions differently. PoT uses a ranking system to randomly select validators to verify transactions.

PoH uses a Verifiable Delay Function to validate transactions, verify how much time has passed between two events, and allow validators to quickly verify a transaction without malicious actors knowing the input.

Key Takeaways:

Another hack. This time was different. This is a doozy.

Why? Nomad got exploited for $190m. It was crypto's 5th-biggest hack. Ouch.

It wasn't hackers, but random folks. What happened:

A Nomad smart contract flaw was discovered. They couldn't drain the funds at once, so they tried numerous transactions. Rookie!

People noticed and copied the attack.

They just needed to discover a working transaction, substitute the other person's address with theirs, and run it.

In a two-and-a-half-hour attack, $190M was siphoned from Nomad Bridge.

Nomad is a novel approach to blockchain interoperability that leverages an optimistic mechanism to increase the security of cross-chain communication.  — nomad.xyz

This hack was permissionless, therefore anyone could participate.

After the fatal blow, people fought over the scraps.

Cross-chain bridges remain a DeFi weakness and exploit target. When they collapse, it's typically total.

$190M...gobbled.

Unbacked assets are hurting Nomad-dependent chains. Moonbeam, EVMOS, and Milkomeda's TVLs dropped.

This incident is every-man-for-himself, although numerous whitehats exploited the issue... 

But what triggered the feeding frenzy?

How did so many pick the bones?

After a normal upgrade in June, the bridge's Replica contract was initialized with a severe security issue. The  0x00 address was a trusted root, therefore all messages were valid by default.

After a botched first attempt (costing $350k in gas), the original attacker's exploit tx called process() without first 'proving' its validity.

The process() function executes all cross-chain messages and checks the merkle root of all messages (line 185).

The upgrade caused transactions with a'messages' value of 0 (invalid, according to old logic) to be read by default as 0x00, a trusted root, passing validation as 'proven'

Any process() calls were valid. In reality, a more sophisticated exploiter may have designed a contract to drain the whole bridge.

Copycat attackers simply copied/pasted the same process() function call using Etherscan, substituting their address.

The incident was a wild combination of crowdhacking, whitehat activities, and MEV-bot (Maximal Extractable Value) mayhem.

For example, 🍉🍉🍉. eth stole $4M from the bridge, but claims to be whitehat.

Others stood out for the wrong reasons. Repeat criminal Rari Capital (Artibrum) exploited over $3M in stablecoins, which moved to Tornado Cash.

The top three exploiters (with 95M between them) are:

$47M: 0x56D8B635A7C88Fd1104D23d632AF40c1C3Aac4e3

$40M: 0xBF293D5138a2a1BA407B43672643434C43827179

$8M: 0xB5C55f76f90Cc528B2609109Ca14d8d84593590E

Here's a list of all the exploiters:

The project conducted a Quantstamp audit in June; QSP-19 foreshadowed a similar problem.

The auditor's comments that "We feel the Nomad team misinterpreted the issue" speak to a troubling attitude towards security that the project's "Long-Term Security" plan appears to confirm:

Concerns were raised about the team's response time to a live, public exploit; the team's official acknowledgement came three hours later.

"Removing the Replica contract as owner" stopped the exploit, but it was too late to preserve the cash.

Closed blockchain systems are only as strong as their weakest link.

The Harmony network is in turmoil after its bridge was attacked and lost $100M in late June.

What's next for Nomad's ecosystems?

Moonbeam's TVL is now $135M, EVMOS's is $3M, and Milkomeda's is $20M.

Loss of confidence may do more damage than $190M.

Cross-chain infrastructure is difficult to secure in a new, experimental sector. Bridge attacks can pollute an entire ecosystem or more.

Nomadic liquidity has no permanent home, so consumers will always migrate in pursuit of the "next big thing" and get stung when attentiveness wanes.

DeFi still has easy prey...

Sources: rekt.news & The Milk Road.

Traditional sales organizations used the concept of a sales “funnel” to describe the process through which potential customers move, ending up with sales at the end. Winners today have abandoned that way of thinking in favor of building flywheels — business models in which every element reinforces every other.

Ah, the marketing funnel…

Prospective clients go through a predictable set of experiences, students learn in business school marketing classes. It looks like this:

Understanding the funnel helps evaluate sales success indicators. Gail Goodwin, former CEO of small business direct mail provider Constant Contact, said managing the pipeline was key to escaping the sluggish SaaS ramp of death.

Like the funnel concept. To predict how well your business will do, measure how many potential clients are aware of it (awareness) and how many take the next step. If 1,000 people heard about your offering and 10% showed interest, you'd have 100 at that point. If 50% of these people made buyer-like noises, you'd know how many were, etc. It helped model buying trends.

TV, magazine, and radio advertising are pricey for B2C enterprises. Traditional B2B marketing involved armies of sales reps, which was expensive and a barrier to entry.

Cracks in the funnel model

Digital has exposed the funnel's limitations. Hubspot was born at a time when buyers and sellers had huge knowledge asymmetries, according to co-founder Brian Halligan. Those selling a product could use the buyer's lack of information to become a trusted partner.

As the world went digital, getting information and comparing offerings became faster, easier, and cheaper. Buyers didn't need a seller to move through a funnel. Interactions replaced transactions, and the relationship didn't end with a sale.

Instead, buyers and sellers interacted in a constant flow. In many modern models, the sale is midway through the process (particularly true with subscription and software-as-a-service models). Example:

You're creating a winding journey with many touch points, not a funnel (and lots of opportunities for customers to get lost).

From winding journey to flywheel

Beyond this revised view of an interactive customer journey, a company can create what Jim Collins famously called a flywheel. Imagine rolling a heavy disc on its axis. The first few times you roll it, you put in a lot of effort for a small response. The same effort yields faster turns as it gains speed. Over time, the flywheel gains momentum and turns without your help.

Modern digital organizations have created flywheel business models, in which any additional force multiplies throughout the business. The flywheel becomes a force multiplier, according to Collins.

Amazon is a famous flywheel example. Collins explained the concept to Amazon CEO Jeff Bezos at a corporate retreat in 2001. In The Everything Store, Brad Stone describes in his book The Everything Store how he immediately understood Amazon's levers.

The result (drawn on a napkin):

Low prices and a large selection of products attracted customers, while a focus on customer service kept them coming back, increasing traffic. Third-party sellers then increased selection. Low-cost structure supports low-price commitment. It's brilliant! Every wheel turn creates acceleration.

Where from here?

Flywheel over sales funnel! Consider these business terms.

If you're not genuine, you'll be revealed.

Sam Bankman-Fried (SBF) was called the Cryptocurrency Warren Buffet.

No wonder.

SBF's trading expertise, Blockchain knowledge, and ability to construct FTX attracted mainstream investors.

He had a fantastic worldview, donating much of his riches to charity.

As the onion layers peel back, it's clear he wasn't the altruistic media figure he portrayed.

SBF's mistakes were disastrous.

• Customer deposits were traded and borrowed by him.

• With ten other employees, he shared a $40 million mansion where they all had polyamorous relationships.

• Tone-deaf and wasteful marketing expenditures, such as the $200 million spent to change the name of the Miami Heat stadium to the FTX Arena

• Democrats received a $40 million campaign gift.

• And now there seems to be no regret.

FTX was a 32-billion-dollar cryptocurrency exchange.

It went bankrupt practically overnight.

SBF, FTX's creator, exploited client funds to leverage trade.

FTX had $1 billion in customer withdrawal reserves against $9 billion in liabilities in sister business Alameda Research.

Bloomberg Billionaire Index says it's the largest and fastest net worth loss in history.

It gets worse.

SBF's net worth is $900 Million, however he must still finalize FTX's bankruptcy.

SBF's arrest in the Bahamas and SEC inquiry followed news that his cryptocurrency exchange had crashed, losing billions in customer deposits.

A journalist contacted him on Twitter D.M., and their exchange is telling.

His ideas are revealed.

Kelsey Piper says they didn't expect him to answer because people under investigation don't comment.

Bankman-Fried wanted to communicate, and the interaction shows he has little remorse.

SBF talks honestly about FTX gaming customers' money and insults his competition.

Reporter Kelsey Piper was outraged by what he said and felt the mistakes SBF says plague him didn't evident in the messages.

Before FTX's crash, SBF was a poster child for Cryptocurrency regulation and avoided criticizing U.S. regulators.

He tells Piper that his lobbying is just excellent PR.

It shows his genuine views and supports cynics' opinions that his attempts to win over U.S. authorities were good for his image rather than Crypto.

SBF’s responses are in Grey, and Pipers are in Blue.

It's unclear if SBF cut corners for his gain. In their Twitter exchange, Piper revisits an interview question about ethics.

SBF says, "All the foolish sh*t I said"

SBF claims FTX has never invested customer monies.

Piper challenged him on Twitter.

While he insisted FTX didn't use customer deposits, he said sibling business Alameda borrowed too much from FTX's balance sheet.

He did, basically.

When consumers tried to withdraw money, FTX was short.

SBF thought Alameda had enough money to cover FTX customers' withdrawals, but life sneaks up on you.

SBF believes most exchanges have done something similar to FTX, but they haven't had a bank run (a bunch of people all wanting to get their deposits out at the same time).

SBF believes he shouldn't have consented to the bankruptcy and kept attempting to raise more money because withdrawals would be open in a month with clients whole.

If additional money came in, he needed $8 billion to bridge the creditors' deficit, and there aren't many corporations with $8 billion to spare.

Once clients feel protected, they will continue to leave their assets on the exchange, according to one idea.

Kevin OLeary, a world-renowned hedge fund manager, says not all investors will walk through the open gate once the company is safe, therefore the $8 Billion wasn't needed immediately.

SBF claims the bankruptcy was his biggest error because he could have accumulated more capital.

Final Reflections

Sam Bankman-Fried, 30, became the world's youngest billionaire in four years.

Never listen to what people say about investing; watch what they do.

SBF is a trader who gets wrecked occasionally.

Ten first-time entrepreneurs ran FTX, screwing each other with no risk management.

It prevents opposing or challenging perspectives and echo chamber highs.

Twitter D.M. conversation with a journalist is the final nail.

He lacks an experienced crew.

This event will surely speed up much-needed regulation.

It's also prompted cryptocurrency exchanges to offer proof of reserves to calm customers.

Many people find the internet's various business models bewildering.

This article summarizes 31 startup e-books.

1. Using the freemium business model (free plus premium),

The freemium business model offers basic software, games, or services for free and charges for enhancements.

Examples include Slack, iCloud, and Google Drive

Provide a rudimentary, free version of your product or service to users.

Google Drive and Dropbox offer 15GB and 2GB of free space but charge for more.

Freemium business model details (Click here)

2. The Business Model of Subscription

Subscription business models sell a product or service for recurring monthly or yearly revenue.

Examples: Tinder, Netflix, Shopify, etc

It's the next step to Freemium if a customer wants to pay monthly for premium features.

Subscription Business Model (Click here)

3. A market-based business strategy

It's an e-commerce site or app where third-party sellers sell products or services.

Examples are Amazon and Fiverr.

• On Amazon's marketplace, a third-party vendor sells a product.

• Freelancers on Fiverr offer specialized skills like graphic design.

Marketplace's business concept is explained.

4. Business plans using aggregates

In the aggregator business model, the service is branded.

Uber, Airbnb, and other examples

Marketplace and Aggregator business models differ.

Amazon and Fiverr link merchants and customers and take a 10-20% revenue split.

Uber and Airbnb-style aggregator Join these businesses and provide their products.

5. The pay-as-you-go concept of business

This is a consumption-based pricing system. Cloud companies use it.

Example: Amazon Web Service and Google Cloud Platform (GCP) (AWS)

AWS, an Amazon subsidiary, offers over 200 pay-as-you-go cloud services.

“In short, the more you use the more you pay”

When it's difficult to divide clients into pricing levels, pay-as-you is employed.

6. The business model known as fee-for-service (FFS)

FFS charges fixed and variable fees for each successful payment.

For instance, PayU, Paypal, and Stripe

Stripe charges 2.9% + 30 per payment.

These firms offer a payment gateway to take consumer payments and deposit them to a business account.

Fintech business model

7. EdTech business strategy

In edtech, you generate money by selling material or teaching as a service.

edtech business models

Freemium When course content is free but certification isn't, e.g. Coursera

FREE TRIAL SkillShare offers free trials followed by monthly or annual subscriptions.

Self-serving marketplace approach where you pick what to learn.

Ad-revenue model The company makes money by showing adverts to its huge user base.

Lock-in business strategy

Lock in prevents customers from switching to a competitor's brand or offering.

It uses switching costs or effort to transmit (soft lock-in), improved brand experience, or incentives.

Apple, SAP, and other examples

Apple offers an iPhone and then locks you in with extra hardware (Watch, Airpod) and platform services (Apple Store, Apple Music, cloud, etc.).

9. Business Model for API Licensing

APIs let third-party apps communicate with your service.

Uber and Airbnb use Google Maps APIs for app navigation.

Examples are Google Map APIs (Map), Sendgrid (Email), and Twilio (SMS).

Business models for APIs

1. Free: The simplest API-driven business model that enables unrestricted API access for app developers. Google Translate and Facebook are two examples.

2. Developer Pays: Under this arrangement, service providers such as AWS, Twilio, Github, Stripe, and others must be paid by application developers.

3. The developer receives payment: These are the compensated content producers or developers who distribute the APIs utilizing their work. For example, Amazon affiliate programs

10. Open-source enterprise

Open-source software can be inspected, modified, and improved by anybody.

For instance, use Firefox, Java, or Android.

Google paid Mozilla $435,702 million to be their primary search engine in 2018.

Open-source software profits in six ways.

1. Paid assistance The Project Manager can charge for customization because he is quite knowledgeable about the codebase.

2. A full database solution is available as a Software as a Service (MongoDB Atlas), but there is a fee for the monitoring tool.

3. Open-core design R studio is a better GUI substitute for open-source applications.

4. sponsors of GitHub Sponsorships benefit the developers in full.

5. demands for paid features Earn Money By Developing Open Source Add-Ons for Current Products

Open-source business model

11. The business model for data

If the software or algorithm collects client data to improve or monetize the system.

Open AI GPT3 gets smarter with use.

Foursquare allows users to exchange check-in locations.

Later, they compiled large datasets to enable retailers like Starbucks launch new outlets.

12. Business Model Using Blockchain

Blockchain is a distributed ledger technology that allows firms to deploy smart contracts without a central authority.

Examples include Alchemy, Solana, and Ethereum.

Business models using blockchain

1. Economy of tokens or utility When a business uses a token business model, it issues some kind of token as one of the ways to compensate token holders or miners. For instance, Solana and Ethereum

2. Bitcoin Cash P2P Business Model Peer-to-peer (P2P) blockchain technology permits direct communication between end users. as in IPFS

3. Enterprise Blockchain as a Service (Baas) BaaS focuses on offering ecosystem services similar to those offered by Amazon (AWS) and Microsoft (Azure) in the web 3 sector. Example: Ethereum Blockchain as a Service with Bitcoin (EBaaS).

4. Blockchain-Based Aggregators With AWS for blockchain, you can use that service by making an API call to your preferred blockchain. As an illustration, Alchemy offers nodes for many blockchains.

13. The free-enterprise model

In the freeterprise business model, free professional accounts are led into the funnel by the free product and later become B2B/enterprise accounts.

For instance, Slack and Zoom

Freeterprise companies flourish through collaboration.

Start with a free professional account to build an enterprise.

14. Business plan for razor blades

It's employed in hardware where one piece is sold at a loss and profits are made through refills or add-ons.

Gillet razor & blades, coffee machine & beans, HP printer & cartridge, etc.

Sony sells the Playstation console at a loss but makes up for it by selling games and charging for online services.

Advantages of the Razor-Razorblade Method

1. lowers the risk a customer will try a product. enables buyers to test the goods and services without having to pay a high initial investment.

2. The product's ongoing revenue stream has the potential to generate sales that much outweigh the original investments.

Razor blade business model

15. The business model of direct-to-consumer (D2C)

In D2C, the company sells directly to the end consumer through its website using a third-party logistic partner.

Examples include GymShark and Kylie Cosmetics.

D2C brands can only expand via websites, marketplaces (Amazon, eBay), etc.

D2C benefits

• Lower reliance on middlemen = greater profitability

• You now have access to more precise demographic and geographic customer data.

• Additional space for product testing

• Increased customisation throughout your entire product line-Inventory Less

16. Business model: White Label vs. Private Label

Private label/White label products are made by a contract or third-party manufacturer.

Most amazon electronics are made in china and white-labeled.

Amazon supplements and electronics.

Contract manufacturers handle everything after brands select product quantities on design labels.

17. The franchise model

The franchisee uses the franchisor's trademark, branding, and business strategy (company).

For instance, KFC, Domino's, etc.

Subway, Domino, Burger King, etc. use this business strategy.

Many people pick a franchise because opening a restaurant is risky.

18. Ad-based business model

Social media and search engine giants exploit search and interest data to deliver adverts.

Google, Meta, TikTok, and Snapchat are some examples.

Users don't pay for the service or product given, e.g. Google users don't pay for searches.

In exchange, they collected data and hyper-personalized adverts to maximize revenue.

19. Business plan for octopuses

Each business unit functions separately but is connected to the main body.

Instance: Oyo

OYO is Asia's Airbnb, operating hotels, co-working, co-living, and vacation houses.

20, Transactional business model, number

Sales to customers produce revenue.

E-commerce sites and online purchases employ SSL.

Goli is an ex-GymShark.

21. The peer-to-peer (P2P) business model

In P2P, two people buy and sell goods and services without a third party or platform.

Consider OLX.

22. P2P lending as a manner of operation

In P2P lending, one private individual (P2P Lender) lends/invests or borrows money from another (P2P Borrower).

Instance: Kabbage

Social lending lets people lend and borrow money directly from each other without an intermediary financial institution.

23. A business model for brokers

Brokerages charge a commission or fee for their services.

Examples include eBay, Coinbase, and Robinhood.

Brokerage businesses are common in Real estate, finance, and online and operate on this model.

1. Buy/sell similar models Examples include financial brokers, insurance brokers, and others who match purchase and sell transactions and charge a commission.

2. These brokers charge an advertiser a fee based on the date, place, size, or type of an advertisement. This is known as the classified-advertiser model. For instance, Craiglist

24. Drop shipping as an industry

Dropshipping allows stores to sell things without holding physical inventories.

When a customer orders, use a third-party supplier and logistic partners.

Retailer product portfolio and customer experience Fulfiller The consumer places the order.

Dropshipping advantages

• Less money is needed (Low overhead-No Inventory or warehousing)

• Simple to start (costs under $100)

• flexible work environment

• New product testing is simpler

25. Business Model for Space as a Service

It's centered on a shared economy that lets millennials live or work in communal areas without ownership or lease.

Consider WeWork and Airbnb.

WeWork helps businesses with real estate, legal compliance, maintenance, and repair.

26. The business model for third-party logistics (3PL)

In 3PL, a business outsources product delivery, warehousing, and fulfillment to an external logistics company.

Examples include Ship Bob, Amazon Fulfillment, and more.

3PL partners warehouse, fulfill, and return inbound and outbound items for a charge.

Inbound logistics involves bringing products from suppliers to your warehouse.

Outbound logistics refers to a company's production line, warehouse, and customer.

27. The last-mile delivery paradigm as a commercial strategy

Last-mile delivery is the collection of supply chain actions that reach the end client.

Examples include Rappi, Gojek, and Postmates.

Last-mile is tied to on-demand and has a nighttime peak.

28. The use of affiliate marketing

Affiliate marketing involves promoting other companies' products and charging commissions.

Examples include Hubspot, Amazon, and Skillshare.

Your favorite youtube channel probably uses these short amazon links to get 5% of sales.

Affiliate marketing's benefits

• In exchange for a success fee or commission, it enables numerous independent marketers to promote on its behalf.

• Ensure system transparency by giving the influencers a specific tracking link and an online dashboard to view their profits.

• Learn about the newest bargains and have access to promotional materials.

29. The business model for virtual goods

This is an in-app purchase for an intangible product.

Examples include PubG, Roblox, Candy Crush, etc.

Consumables are like gaming cash that runs out. Non-consumable products provide a permanent advantage without repeated purchases.

30. Business Models for Cloud Kitchens

Ghost, Dark, Black Box, etc.

Delivery-only restaurant.

These restaurants don't provide dine-in, only delivery.

For instance, NextBite and Faasos

31. Crowdsourcing as a Business Model

Crowdsourcing = Using the crowd as a platform's source.

In crowdsourcing, you get support from people around the world without hiring them.

Crowdsourcing sites

1. Open-Source Software gives access to the software's source code so that developers can edit or enhance it. Examples include Firefox browsers and Linux operating systems.

2. Crowdfunding The oculus headgear would be an example of crowdfunding in essence, with no expectations.