Would it be beneficial for you to take economic advantage of an API? Don’t have too much information on how you can make money with them? We will share with you 3 easy options on how you can monetize your API and make the most out of it!
Why are APIs used?
The use of APIs shortens the development process and time. It also makes developers’ jobs easier because they can employ ready-made solutions. There’s no reason to reinvent the wheel or waste time building something that already exists.
Consider Google Maps, which developers can include in applications and websites. Instead than creating a map every time you need one, you may just use one provided by Google. Can you imagine how much time and money you’ll save this way?
It also opens you opportunities to commercialize your work. You can establish an API and charge for its use. For example, the first 1000 inquiries per month could be free. After that, you can charge a fee such as $0.001 for each additional request. As a result of employing APIs, you can save time and money while also monetizing your work!
In which ways can you sell your API?
You don’t have to create a website merely to sell their API or integrate a payment processing system into it.
All you have to do is submit your API to an API marketplace and let them do the rest.
This is why API marketplaces are used by both developers and enterprises to sell their APIs, reach their target audience, and increase revenue.
An API marketplace is a marketplace that connects buyers and sellers of APIs on a single platform. The vendor portal and the developer portal are two components of an API marketplace.
This platform allows API providers (individuals or businesses) to list their APIs, while buyers (other developers) can view and purchase them.
Consider an API marketplace to be similar to an e-commerce website such as Amazon or a traditional marketplace. If you wish to sell your e-book, you can list it on Amazon, where readers can read it and purchase it if they like it.
Now, let’s talk about some of the best API marketplaces where you can sell your APIs.
Zyla API Hub
The Zyla API Hub enables API access and connections. It is a simple public hub where API providers can publish APIs for developers and partners to use. For all APIs, there is a free plan. In addition, the Zyla API Hub APIs have been curated and advised based on their usability, performance, and support.
As complicated digital transitions and rising need for real-time data create challenges for businesses of all kinds, Zyla API Hub addresses this requirement by delivering highly robust, scalable APIs that are simple to establish and manage. Finally, Zyla API Hub‘s products are used by customers ranging from startups to huge enterprises.
RapidAPI
RapidAPI offers code snippets in different languages, making it easy for users to integrate your API into their application. You no longer have to worry about security as RapidAPI validates each API request. Assign API keys to each user for easy user management and quick configuration.
You can track performance and get detailed information about API trends and usage in the dashboard. Add your API by choosing a flexible pricing model and define the pricing tiers that best suit your needs.
APILayer
The process for listing an API begins with submitting the details for a review, following discussions about the project along with payment and pricing details.
Next, APILayer prepares for a technical evaluation to see if the API meets your quality standards. Finally, the API appears in the marketplace if it ticks all the checkboxes.
APILayer gives you complete freedom to price your products and host them or choose to host them. In addition, any company or individual can partner with APILayer.