So if you can’t sell Nostr users data, how do you make a business with it?
Discussion
Whut?
IG, TikTok, YT, they all sell data, ie companies seeking to advertise, as their major revenue model
Nostr is different. The user controls their data and audience. If that’s the case, what’s the business model of choice?
There is no business model here actually. Could be wrong tho.
nostr:npub1xtscya34g58tk0z605fvr788k263gsu6cy9x0mhnm87echrgufzsevkk5s you can probably explain this better
Value 4 value
IG, TikTok, Youtube and others are corporation's property. Nostr is not social media, it is open protocol, it doen't need business model. It will live if it needed, it will die if it not.
That is the explanation I needed!
Can it survive without business models that work?
I guess that’s the question I was trying to get to!
Open source projects are not necessarily intended to be potentially profitable. When a protocol or other software product is in demand, then developers make money by adapting such a protocol for the most popular type of use. For example, Bitcoin. Or Linux. Or XMPP/Jabber. Or Apache, nginx (not quite open source, but still). And many, many others. I think Nostr will be fine.
That business model still works on nostr
If your relay is a major one, and free to use, you can sell the data there
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
Classic PR for example. Connecting with customers. Creating events for them. Promoting and selling your product, providing support for it, etc.
Nice. So a service based business, with a high value connections list, can give exposure to the right people in the right place, for a fee
Makes sense
Indeed, it’s actually much more social than say a paid ad on IG… Richer relationship potential right there, which I would hazard a guess means higher LTV of any customers acquired
Interesting
Yes, but for now Nostr users are specific audience. Even Wallet of Satoshi stopped its Nostr account due to low engagement I guess and (maybe) criticism from hardcore bitcoiners. Although by gaining popularity in the local environment it was possible to add users and earn additional money on commissions from transferring zaps.
Also lately I haven't heard about ZBD service, which tried to monetize access to nostr as "ZBD universe" or something like that. They have their own app with Lightning Network and at some point they attracted a lot of people by providing them with wallets and giving satoshi for playing games and watching ads (I don't know exactly how it worked and if it still works). And at some point they started attracting experienced users by giving them access to publishing posts for money, i.e. they tried to present Nostr as something exciting and profitable. I don't know how they've been doing since then, but it doesn't look like they've been successful.
By providing value to the community. And they will zap you if they find what you are doing to be valuable.
People don't like to part with their money. Isn't that why surveillance capitalism was developed in the first place?
Maybe. I don’t think so though
Just a case of incentive
Value is subjective, so if I want to, I spend my money
No need for surveillance capitalism in that sense
BUT some people figured out they could create digital monopolies, a “safe and convenient” place for people to socialise, & sell the data to advertisers on the back-end
Yes so the v4v model for sure is one way