Monetization refers to the process of converting an asset, service, or product into a source of revenue. This can involve various strategies, such as selling goods, offering subscriptions, or displaying advertisements. Businesses often seek to monetize their offerings to generate profit and sustain operations. In the digital world, monetization is commonly seen in platforms like YouTube or Instagram, where creators earn money through ads, sponsorships, or merchandise sales. Additionally, software companies may use monetization techniques like freemium models, where basic services are free, but advanced features require payment.