Blockchain Industry Must Find Sustainable Revenue Models Rather Than Just Cut Fees

The cryptocurrency industry needs to move beyond competing to lower trading fees and instead build sustainable revenue models, according to Nina Long, executive vice president of growth at BNB Chain. Without a business structure to support them, continued technology development and ecosystem support will be difficult to sustain.

In a post on X on September 5, Long referred to debate over which blockchain would best suit Robinhood and wrote that lowering gas fees further is no longer the blockchain industry's top priority.

Instead, every blockchain's real priority now is to find a sustainable business model that allows reinvestment in technology and growth. Potential sources of revenue include gas fees, revenue-sharing arrangements and commercial business-to-business contracts. That means blockchains need to focus not only on fee levels, but also on how to fund network operations and development.

Long added that blockchain foundations have spent the past five years focused mainly on grants, investment support and lower gas fees. For those efforts to continue over the next five years, blockchain companies need a solid business structure.