As NFTs spread across the world, users spent millions of dollars to buy digital assets to prove their uniqueness. Many creators and artists showcase their beautiful products, such as artworks, music, etc., in the NFT marketplace. What if a creator can profit from their work even after selling it to another business? This is where royalty comes in; it is a recent addition to the NFT space. Owing NFT royalties can benefit artists and creators from succeeding sales to the business.
Once NFT royalties became a hot topic and gained popularity among artists and creators. Later, arguments were evolved to remove royalties that had swayed other NFT creators. DeGods, the popular Solana's NFT project, has moved its royalty model to 0%. However, creating a royalty-based NFT marketplace attracts many creators around the world. In this article, we will delve into the development process of NFT marketplace royalties and how it benefits enthusiastic artists from secondary sales.
We understand that accountability starts with us,” says Sachin Kansal, the senior director of product management at Uber. With the vaccine for the Coronavirus still in the making, there is a need for collective responsibility to ensure global safety. Nations across the world are gradually lifting lockdowns, owing to the economic downfall. On the other hand, people are adapting to the ‘new’ normal.
After the onset of the coronavirus pandemic, Instacart, a popular online grocery platform, hired 300,000 workers to meet the demands of the people. In addition, they are planning to hire 250,000 more. Such is the demand for online grocery platforms nowadays. People are in self-isolation with restricted outdoor movements. The fear of contracting the disease is so high that people are looking for alternative ways even to access essential services. As a result, smartphone applications are gaining increased attention from people all over the world.
Dubai has been an extra-ordinary territory when it comes to adopting technology and the offshoots of any innovation. It might be surprising for everyone to know that Dubai, which today stands as an epicenter of modernity had just 13 registered cars in 1989.
Dubai is quite an oxymoron. In spite of its global image, Dubai has an affinity for homegrown Brands. This mindset is not just confined to the Emirates but to the whole of the Middle East, stretching right from Saudi Arabia to Pakistan.
There was a time when moving from one place to another was a matter of utility. People did not Care About Us lyrics like comfort. Public transportation was dominating the landscape of movement and private transport was considered a luxury.
Today, we live in a world where people expect more than just the movement. They do not want to compromise on the aspects of comfort and convenience. They would like to be picked up from their doorstep and they would like to be dropped precisely in the place that they want to be.
These transformations have given rise to the business of ride-hailing. There are a lot of companies that provide the service of transportation by picking people from one place and dropping them in a place of their choice.
The constructive onslaught of Smartphones enabled with GPS made the business of ride-hailing efficient, profitable and delightful to the customer.
Managing your competition is an important skill that you need to have as a company. The management of competition can either be done by letting go of a market because it is too much to handle. You can also consider either selling yourself to a competition in a particular local market or acquiring them. Different companies adopted varied strategies according to the moment’s and the market’s demands.
Focus on Uber
Uber needs no introduction as a corporate or as a service provider. It has become synonymous with on-demand cab services and is slowly progressing towards providing many other services in the same fashion.
The phrase ‘Let's book an Uber’ has become common. In a decade, Uber has gained the status of a monopoly and has marked a prominent presence in more than 70 countries ever since its inception in 2009. However, it hasn't always been a bed of roses for Uber.
Uber has faced a lot of legal issues, some of them because of the legislature of the country, local drivers and passengers.
Uber, as we know, operates only in 650 cities and remains the best among all taxi apps. But have you ever imagined about other cities and their demand for taxi applications? If you did, you would have certainly come across a few regional apps like Ola, Didi Chuxing, Japan Taxi, etc. These apps are focused on fulfilling the demands of locals; and in that way, they have succeeded and generated revenue tremendously. If you search for the reason behind the success of these apps, it inevitably ends up in the kind of service it provides its customers. So, it all depends on how well you bestow your service (whether you focus regionally or globally).
Today’s taxi market is crowded with ride-sharing apps like Uber, Ola, and Lyft. They are giving serious competition for upcoming ventures. These on-demand apps have initiated the radical shift in the taxi industry enabling the smooth transition from conventional taxi hailing to booking a cab through an app. Customers are opting for hailing taxis through the app because of its reliability to get a taxi and ensuring a much better cab booking experience. Thus, the taxi market is ripe for the taking, and this is the right time for entrepreneurs to make use of the opportunity.
Statistics on the Taxi Industry
The traditional taxi industry is still stuck with inefficient phone call bookings, competitors and they stand to lose at least $20 million on an everyday basis just because customers couldn’t find a cab. Another statistics survey tells us that almost 80% of the commuter prefer Ola and Uber over regular taxis and that Uber has completed nearly 2 billion rides since its inception. The profits soared over $20 Billion in the process. What made Uber and Ola successful ventures is the sound business strategy they employed. So if you are going to establish your venture then understanding the market is imperative.
