That business model still works on nostr
If your relay is a major one, and free to use, you can sell the data there
Discussion
Interesting. So relay providers can utilise that similar model in which you provide convenience, UX etc, in exchange for data
The user becomes the product again in a way (but to a far lesser extent given one can create their own relay, or just not use yours)
What’s the market for selling this data like so far?
Some key difference though, on Nostr you can encrypt your data so that only you and a set of recipient can read it.
Another difference is that your API is not close, so anyone can access this data actually.
For everything else such as post reaction, zaps, or short note, you can monetise this data, by shipping targeted ads in your thread, like big tech companies do today
As a user you can choose not to use those relays. You can use the same service on your own term, or have a free market of relays kind of
So far I am not aware of any relay monetising its data, but it’s possible and if Nostr is successful it will happen probably