PickyDomains.com is an example of how to use сrowdsourcing for profit.

More over, the company’s slogan is “Risk Free Naming Service”, which means a client pays only if he likes and approves the domain name they suggest.

Here is how it works.

A client simply deposits $50.

This starts a creative chain reaction as  hundreds of contributors start submitting their ideas.

Once a  winning suggestion is found, the contributor who came up with it  gets 40% to 60% of the fee via PayPal (anyone can become a  contributor, registration is free).

The exact  payout depends on contributors rank, which is a measure how good  he  or she is, based on the number of likes and dislikes received  from  clients.

If client decides that he or she does not like any suggestions,   they can request a refund, so there is no risk involved.

The service has received raves from Web curmudgeon John Dvorak. “You are too friggin’ cheap to be taken seriously,” he writes in his blog. “A couple of your names if sold by a consulting firm would have fetched $10,000.”