There are many different ways to earn money with NFTs. In this blog post, we will discuss seven of the most popular methods. Some of these methods are passive, while others require more work. But all of them have the potential to generate a healthy stream of income for you! So let’s get started!
NFTs, or non-fungible tokens, are digital assets that are unique and cannot be replicated. They can represent anything from digital art to in-game items and beyond. And because they’re stored on the blockchain, they can be bought, sold, or traded like any other cryptocurrency.
One of the most appealing things about NFTs is that they offer a new way to earn passive income. Unlike stocks or bonds, which only generate income when they are sold, NFTs can generate income even when you’re not actively selling them!
This and more will be explained in this blog article.
Let’s get started and get an overview of what an NFT can do for you or what you can do with an NFT.
There are a few different ways to make money with NFTs. When it comes to NFTs, you have those methods which make passive income and those which require some active attention from you.
If you have a creative talent, then one of the best ways to make money with NFTs is by creating and selling your own digital assets. This can be anything from artwork to in-game items or even just unique photos or videos.
The great thing about this method is that it doesn’t require any upfront investment. All you need is a computer and an internet connection. And if you’re good at what you do, you can earn a healthy income from selling your NFTs!
If you are thinking of starting your own NFT collection, you need a platform which helps to bring your digital assets to the blockchain.
Platform to launch and sell NFT Collection:
Another great way to make money with NFTs is by collecting royalties on your digital assets. This works in much the same way as traditional royalties, such as those earned by musicians or authors.
Whenever someone uses or sells your NFT, you will receive a percentage of the sale price in the form of a royalty. This is a great way to earn passive income from your NFTs, as you will continue to receive royalties even if you’re not actively selling them.
The amount of money you can earn from royalties depends on a number of factors, such as the popularity of your NFTs and the price they sell for. But if you have a popular NFT, you could potentially earn a lot of money from royalties!
How much royalties you can earn must be set when you launch your NFT on, for example, OpenSea.
If you’re not interested in creating or selling your own NFTs, you can still make money from them by trading them on exchanges. Just like with traditional cryptocurrencies, you can buy low and sell high to turn a profit.
However, it’s important to remember that the NFT market is still very new and volatile. This means that prices can rise and fall very quickly. So, if you’re going to trade NFTs, you need to be prepared for some losses as well as some profits.
To Trade NFTs you need a marketplace where you buy and sell your NFTs.
Some of the most popular NFT trading platforms are:
Believe it or not, we live in an era in which you can earn money by playing video games. NFTs can be placed or used to purchase and exchange in-game items in blockchain-based games.
There are already a few incredibly costly collectibles on the market, such as those featured in the game CryptoKitties, which are quite rare to obtain.
Or there are online games like TownStar, which allow you to place the purchased NFts into the game and earn even more cryptotokens in return. Depending on the rarity NFTs can make you more or less rewards after placing or using them.
Games in which you can earn money from your NFTs are:
NFTs’ ability to stake is one of the benefits of their integration with decentralized finance (DeFi) protocols. Staking is the process of transferring, or “locking away,” digital assets into a DeFi protocol smart contract, in return for staking their tokens, users earn rewards in the form of new tokens.
So, by staking your NFTs, you can earn rewards in the form of new NFTs! This is a great way to grow your NFT collection while also earning some passive income.
To stake your NFTs, you need to find a platform that offers staking services. Some of the most popular platforms for staking NFTs are:
NFTs can be used as collateral to borrow money from a lending platform. This is a great way to earn some extra cash without selling your NFTs.
To use your NFTs as a collateral, you need to find a platform that offers services for NFTs. Some of the most popular platforms for lending NFTs are
Alternative to NFT Loans are Cryptoloans on traditional cryptocurrencies. Platforms like Nexo.io and Binance offer this option.
NFTs can be rented out in a similar way to traditional assets like houses or cars. This is a great way to earn some extra income without selling your NFTs.
To rent out your NFTs, you need to find a platform that offers services for NFTs. Some of the most popular platforms for renting.
When you rent an NFT you can use for example in online games and make some extra rewards with it.
The future use cases of rental protocols could be in the metaverse or blockchain-based video games, where consumers may rent out their play-to-earn items and digital real estate in metaverse worlds like The Sandbox, Decentraland or games like TownStar.
If you have already searched for NFT rental markets on Google, you may have noticed that there are not many platforms yet. Keep in mind that NFTs are still new, and few people outside of the cryptocurrency world are aware of them.
Nevertheless, the NFTs will experience an upswing in the next 2 to 3 years.
NFTs are a great way to earn money, whether you’re selling, trading, or staking them. With so many different ways to earn money from NFTs, there’s sure to be a method that’s right for you.
So what are you waiting for? Start earning money with NFTs today!
This article originally appeared on www.generation-i-invest.com in German.
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