In the high-pacing world of today, everyone is busy in the race to leave a mark. Get your hands on that new brand, buy that new car, and get that subscription but how do you do all that with the regular hustle of life? Well, what if we tell you there is a way through which you can make money with NFTs you own!
Yup, that’s absolutely possible and now is the time you move forward with this notion confidently! If you are ready to find out more, then read on. In this blog, we shall explore the following;
- Market potential of NFTs
- Are NFTs a viable source of earning?
- How to make money with NFTs
- #1. Mint your own NFTs
- #2. Trade your NFTs
- #3. Stake your NFTs
- #4. Flip the NFTs
- #5. Rent your NFTs
- #6. Create a marketplace
- #7. NFTs as collaterals
- #8. Sell in-game items
- #9. Get gains from HFT Funds
- #10. NFT HODling
- #11. Passive cryptocurrency mining protocol
- #12. Early investment in New NFTs
- #13. Earn by investing in a Play-to-Earn Tamadoge NFTs
- #14. Earn by Play-to-Earn (P2E) Silks NFT Games
- To Conclude
Market potential of NFTs
The market potential of NFTs is significant and still growing. NFTs have gained popularity in recent years, and more and more artists, musicians, game developers, and other creators are using them to monetise their work. NFTs have been used for digital art, collectables, virtual real estate, and in-game items.
The market for NFTs is expected to grow as more people and organisations adopt the technology and find new use cases. However, as with any emerging technology and market, it’s important to remember that there is always a risk of volatility and market fluctuations.
Are NFTs a viable source of earning?
NFTs can be a viable source of earning money for creators, artists, and other individuals with unique digital assets. As the popularity of NFTs has grown, many creators have been able to monetise their work by creating and selling NFTs of their digital art, collectables, videos, music, and other digital assets.
Some NFTs have sold for millions of dollars, and many creators have earned significant sums of money by selling their NFTs. However, it’s important to keep in mind that the value of an NFT can be highly speculative, and there is a risk of volatility and market fluctuations. Therefore, doing your own research and due diligence is important before investing in NFTs.
How to make money with NFTs
#1. Mint your own NFTs
You can mint NFTs of your digital art, videos, music, and other digital assets. Minting your own NFTs is one way to earn money by selling them on various NFT marketplaces like OpenSea, Rarible, and SuperRare. You can also offer limited editions of your NFTs, which can increase their value.
Additionally, you can use your NFTs to monetise your online presence by creating exclusive content, merchandise and more for your community. If you are a beginner, you can learn more about how to mint NFTs in our guide.
#2. Trade your NFTs
Trading your own NFTs is another way to earn money with NFTs. You can buy NFTs at a lower price and then sell them later at a higher price, similar to how one would trade stocks or other forms of investments. This can be done through NFT marketplaces like OpenSea, Rarible and SuperRare, where you can buy and sell NFTs. Additionally, you can use decentralised exchanges (DEXs) such as Uniswap, Kyber Network, and others to trade your NFTs. It’s important to note that NFT trading is still a new and emerging field, and it’s important to do your research and due diligence before investing.
#3. Stake your NFTs
Staking your own NFTs is another way to earn money with NFTs. This is a method of earning returns on your NFTs by holding them and locking them up for a certain time. Staked NFTs can be used as collateral to earn interest or rewards on a blockchain. It is similar to how traditional banking works with savings accounts. Staking can be done through platforms that support NFT stakings, such as Aave or Compound. These platforms will require you to transfer your NFTs to a smart contract and lock them up for a certain period of time. It’s important to research the platform’s terms and conditions and ensure that it is reputable and secure before staking your NFTs.
#4. Flip the NFTs
Flipping NFTs is a way to earn money by buying NFTs at a lower price and selling them later at a higher price. This can be done through NFT marketplaces like OpenSea, Rarible and SuperRare. By flipping NFTs, you can profit from the price difference by buying low and selling high. It’s important to have a deep understanding of the NFT market and the specific NFT you are buying and a good timing strategy to successfully flip NFTs. It is also important to be aware that flipping NFTs is high-risk and that past performance doesn’t guarantee future results.
#5. Rent your NFTs
Renting your own NFTs is another way to earn money with NFTs. This can be done by renting out your NFTs to other users for a set period of time, allowing them to use or display your NFT while they hold it. This can be done through platforms like OpenSea, Rarible and SuperRare, which allow you to rent out NFTs.
By renting out your NFTs, you can earn money while still retaining ownership of the NFTs. Additionally, renting out NFTs can be a way to increase the demand and value of your NFTs. It is important to be aware that rental prices and the demand for NFTs are subject to change, so you should monitor the market and adjust your rental prices accordingly.
#6. Create a marketplace
Creating a marketplace for NFTs is a way to earn money by facilitating the buying and selling of NFTs. You can create a website or platform that allows users to list, buy and sell NFTs. You can earn a commission on each sale made on your marketplace. Additionally, you can also offer premium features or services for a fee.
Creating a marketplace for NFTs can be a great way to connect buyers and sellers of NFTs and earn money while providing a valuable service to the community. However, it’s important to remember that creating a marketplace for NFTs is a complex and time-consuming task that requires a lot of resources and expertise.
#7. NFTs as collaterals
Using NFTs as collateral is a way to earn money by borrowing against the value of your NFTs. This can be done by lending platforms such as Aave, Compound, and others, which allow you to use your NFTs as collateral to borrow other digital assets or cash. By using NFTs as collateral, you can generate cash flow without selling your NFTs.
However, it’s important to remember that using NFTs as collateral carries risk, as the value of NFTs can be highly speculative, and there is a risk of volatility and market fluctuations. Additionally, suppose the value of NFTs drops below a certain level. In that case, the platform may liquidate the NFTs to repay the loan, so it’s important to do your research and due diligence before using NFTs as collateral.
#8. Sell in-game items
Selling in-game NFTs is a way to earn money by creating and selling unique digital assets within a NFT game. This can be done by creating and selling NFTs representing in-game items such as weapons, armour, or other collectables. These NFTs can be sold on various marketplaces like OpenSea, Rarible, SuperRare, or through the game’s marketplace.
Additionally, you can earn money by creating and selling in-game experiences, such as virtual tours or virtual events, as NFTs. This can be a way to monetise your skills and knowledge of the game and earn money by providing unique and scarce items or experiences to the game’s community.
#9. Get gains from HFT Funds
Investing in HFT funds for NFTs is a way to earn money by investing in a fund specialising in high-frequency trading of NFTs and other digital assets. These funds typically use market-making, arbitrage, and liquidity provision strategies to generate returns for their investors.
By investing in HFT funds for NFTs, you can earn money through the fund’s returns, but it’s important to note that these types of investments are high-risk, and you should do your own research and due diligence before investing. Additionally, it is important to be aware of the fees associated with these funds and the fund’s past performance and terms and conditions.
#10. NFT HODling
NFT HODling is holding onto NFTs as a long-term investment, with the expectation that their value will increase over time. By HODling NFTs, you can earn money by selling them later at a higher price. This can be done by purchasing NFTs from marketplaces like OpenSea, Rarible, and SuperRare, or by minting your own NFTs. It’s important to keep in mind that the value of an NFT can be highly speculative, and there is a risk of volatility and market fluctuations, so it’s important to do your own research and due diligence before investing in NFTs.
#11. Passive cryptocurrency mining protocol
Passive cryptocurrency mining protocols allow users to earn cryptocurrency by providing their computing power to the network without requiring active involvement in the mining process. This can be done by staking your cryptocurrency or tokens on a proof-of-stake network or participating in a liquidity pool.
By participating in passive mining protocols, you can earn a passive income in the form of cryptocurrency, which can then be sold or exchanged for other assets. However, it’s important to be aware that the value of cryptocurrency is highly speculative, and there is a risk of volatility and market fluctuations, so it’s important to do your own research and due diligence before participating in passive mining protocols.
#12. Early investment in New NFTs
Early investment in new NFTs can help you earn money by buying NFTs before they become more popular and valuable. This is similar to how early investors in startups or other emerging technologies can earn a significant return on their investment. By identifying new NFTs that have potential, you can buy them at a lower price and then sell them later at a higher price.
However, it’s important to keep in mind that investing in new NFTs is a high-risk investment and the value of an NFT can be highly speculative, so it’s important to do your own research and due diligence before investing. Additionally, as with any investment, past performance does not guarantee future results.
#13. Earn by investing in a Play-to-Earn Tamadoge NFTs
Investing in Play-to-Earn Tamadoge NFTs can help you earn money by participating in the Tamadoge ecosystem. Tamadoge is a platform that allows players to earn cryptocurrency by playing NFT games. The Tamadoge NFTs represent in-game items or experiences that can be used to earn cryptocurrency by participating in the Tamadoge ecosystem.
Investing in these NFTs allows you to earn money through the cryptocurrency from participating in the Tamadoge ecosystem. Additionally, the value of the NFTs may increase over time, leading to potential capital gains. However, it’s important to keep in mind that the value of an NFT can be highly speculative, and there is a risk of volatility and market fluctuations, so it’s important to do your own research and due diligence before investing in Tamadoge NFTs.
#14. Earn by Play-to-Earn (P2E) Silks NFT Games
Play-to-Earn (P2E) Silks NFT games allow players to earn money by participating and earning in-game assets. These in-game assets, represented as NFTs, can be sold or traded on various marketplaces such as OpenSea, Rarible and SuperRare, and their value can increase over time. Additionally, players can participate in tournaments and competitions that reward the winners with exclusive NFTs.
By participating in P2E Silks NFT games, you can earn money by accumulating valuable in-game assets and participating in competitions and tournaments. However, it’s important to keep in mind that the value of an NFT can be highly speculative, and there is a risk of volatility and market fluctuations, so it’s important to do your own research and due diligence before participating in P2E Silks NFT games.
To Conclude
If you feel you are ready to dive deep into the world of the crypto-verse, head on! The horizons are vast, and we are just getting started! Through this guide, we aim to walk you through the best available options for earning money. Also if you are wondering where you’ll keep it all once you do get through then check our guide for the best NFT wallets for 2023. Hope it helps; Safe Crypto-ing!