Next Generation MLM Platform Development
Multi-Level Marketing, abbreviated as MLM is a marketing strategy or business model in which marketing of products or services occurs directly with a network of autonomous representatives and hence MLM is also called network marketing, referral marketing, and pyramid selling.
Here the revenue of an MLM company is derived from the individual participant or distributor selling the company's services/products, while the revenue of the individual promoter is derived from a pyramid-shaped commission system.
MLM can be of various forms & described it's structure as:
Referral marketing
Social selling
Network marketing
Direct selling
Team marketing
Consumer direct marketing
Pros & Cons of MLM Business
There are a lot of entrepreneurs who are earning big money from MLM businesses. If you have the right networks and skills, definitely you will succeed in MLM business. Here are some notable advantages of starting an MLM business:
Pros of MLM Business
Less risk
Less investment
Portability
Low operating cost
High leverage
Huge potential income
Attainable freedom
Better ROI
Flexible revenue model
Direct selling association
Time flexibility
Steady & solid income
Cons of MLM Business
Illegal schemes
Negative stigma
High rejection rate
Negative perception among people
Numerous scams
Less trustworthy
Lot of fraud schemes in market
Low success rate
These cons in MLM business make it less trust-able among people. To overcome these pitfalls, Smart Contract based MLM business evolved.
What is a Smart Contract based MLM Business?
A Smart Contract based MLM business is a multilevel marketing business that runs on the principles of Smart contracts. Here the MLM business is integrated with Blockchain powered Smart Contract functionality which makes MLM an efficient marketing model.
The integration of Smart Contract on MLM business completely changed people's perception of MLM business and brings an improved trust-ability & transparency in it.
How Smart Contract Elevates MLM Business?
Smart Contract has turned into the greatest solution to overcome the drawbacks in the traditional MLM business. This technology evolvement has revolutionized the MLM business to a great extent. The integration of smart contracts in MLM business structure simplifies the MLM work process, adds more transparency makes it as integral to the growth of the enterprise.
The majority of the people are aware of Smart Contract, so its implementation in MLM business attracts a lot of investors to invest in MLM business and also paved the way for entrepreneurs to start an MLM platform to become a billionaire.
The immutability nature of Blockchain Smart Contract brings more stability and trust-ability to MLM business among investors.
The traceability is also the main characteristic of Smart Contract powered MLM platform, the traceability is the ability to identify, track, and trace the transactions carried out in the MLM platform.
Every transaction & user data of an MLM business are stored in a specific Blockchain powered smart contract that allows participants to view the transaction history and other participant's details.
It also eliminates the anonymity in transactions, the public key or unique key generated in every transaction are stored in a specific BlockExplorer of a Blockchain platform.
For example, if it is Ethereum powered Smart Contract, the secret key gets stored in the Ethereum’s BlockExplorer called Etherscan.
The key benefit of an MLM platform with Smart Contract is the elimination of scamming of MLM business, no third party involvement, setting up a peer-to-peer MLM platform.
The most crucial part of the MLM platform with a Smart Contract is automatic transactions.
How to Start an MLM Website with Smart Contract?
To start an MLM business website with Smart Contract, one should need expert consultation and necessary development support, another most cost-effective way is a Smart Contract MLM Script.
Smart Contract MLM Script
Smart Contract MLM Script is an MLM website script that works based on the principles of Blockchain-powered Smart Contract. It is completely secure, decentralized, and brings a new dimension to an MLM business.
Popular Smart Contract MLM Clone Scripts
Where to build a Professional MLM Platform with Smart Contract Solutions?
To get a top-notch service on MLM platform with Blockchain powered Smart Contract, choosing a well-experienced agency will be a smart way.
BlockchainAppsDeveloper - The leading Smart Contract & Blockchain Development Company having certified developers excelled in blockchain and smart contract development.
Having plans to start an MLM business or Smart Contract based MLM business and looking for the best MLM software with Smart Contract solutions? Contact Us & Launch Your MLM platform in 3-5 days!
