Yes, it is possible to monetize an open source web development project.The best way to begin is by offering support and services for these projects. You can offer your clients consultation, module customization, or user-based training.For your open source web development project, you can develop 2 versions. One is free with basic features, while the second can be a premium one offering superior features and facilities. Once your customers get accustomed to your basic version, offer them a free trial of your premium product. If convinced, they might switch to the premium version. This is the best way to monetize your project yet retain your customer.In rare cases, developers resort to crowdfunding platforms to fund their open source projects. In short, you may monetize your open source project using any creative method but always stick to the basic ethics and terms of usage as prescribed for open source web development projects.