The rapid growth of the NFT market over the past few months has provided investors with attractive ways to profit and monetize NFTs; Therefore, this emerging market has attracted the attention of many investors and made it one of the most popular financial markets. Considering that NFT markets are accessible to everyone and are now one of the ways to invest, it is very important to have information about this market and ways to earn money on NFT. In 2021 alone, the NFT market surpassed the $12 billion mark, up from $162.4 million at the beginning of the year. While some have made great fortunes on NFTs, there are still many people looking to make money this way. If you are one of these people, read this article to the end.
Seven ways to make money from NFT
Create and sell NFTs
The position of NFT
1. Create and sell NFT
The direct and effective way to make money from NFTs is to create and sell them. Yes, anything digital, such as artwork, images, videos, coins, memes, assets, etc., can be created and sold as NFTs. If you are creative, you can make money from all your creations by selling them as NFTs.
You can create and sell your NFT portfolio using platforms like Appy Pie and earn money from your digital assets. You can also list your NFTs on other marketplaces like OpenSea, Rarible, etc. With a small fee and increase your income.
Create amazing NFTs or convert your existing digital creations into NFTs with Appy Pie’s NFT Generator and sell them at any price.
2. NFT transaction
NFT trading is a great and easy way to make money from NFT. You can buy a set of NFTs and sell them to make money, but trading NFTs is not easy. The trick is to sell them at the right time, which directly depends on various factors such as what the NFT is, why you bought it, and whether there is anyone else interested in the item. To determine these factors, you can quickly search the Internet and various marketplaces.
Before proceeding with NFT trading, you should remember that not all NFTs are created equal. Some are worth millions, while others are basically worthless. Therefore, you, as a merchant, should consider every opportunity to earn good money for reselling.
3. NFT käredesi
One of the best ways to make money with NFTs is to rent them out. Renting NFTs can be a good source of passive income for NFT creators and collectors. The great thing is that you can use NFTs for a long time without creating new ones. You can rent NFT cards in games or any other platform that allows users to earn NFT cards. You can also use platforms like reNFT to rent or lend NFTs to others. Don’t worry, all the NFTs you rent are created under smart contracts, but the NFT owner has the privilege to set the desired rental agreement period and the NFT rental rate.
4. NFT game
NFT-based video games are also a popular way to earn NFT. There are games that allow you to buy and sell in-game items such as NFTs, which helps you earn money that way. However, now their number has decreased.
With the hype around NFTs, there is no doubt that you will soon see more games that allow you to trade NFTs. Another reason NFTs will become in-game in the future is that they are much more advanced than simple digital trading cards or even more interactive NFTs such as virtual works of art.
5. NFT Royalties
Fixing royalties on your NFTs is a great way to ensure a steady stream of income. With NFT Royalties, you can earn money every time your NFTs change hands on the secondary market, meaning you can continue to earn money even after you sell your works to collectors. For example, if you set a 10% royalty on your NFTs, you will receive 10% of the total sale price each time your digital asset is sold to a new owner.
Plus, since the entire process is automated, you don’t need to enforce royalty terms or manually record payments. So every time someone buys an NFT, you create a rent and make money.
6. Authorized collections
Convert physical archives to NFT, sell them and start earning in no time. Yes, you can securely store your physical collections on the blockchain and pay the same or higher price for them. By far, sports cards are the most popular type of licensed NFT collectible. However, brands are slowly joining the NFT bandwagon with their own licensed collections to make the most of it. One such brand is the NBA, which recently launched its own collection of NFT cards.
7. Place the NFT
Another proven way to monetize NFTs is stacking NFTs. Staking NFTs means depositing or “locking” digital assets into Defi protocol smart contracts to earn income. Simply put, staking is the process of storing a digital asset in the form of a “stick” and assigning it to those who wish to hold it, providing you with a share of the reward for your NFT. You can use various platforms like Kira Network, Splinterleads, Only1 and NFTX to share your NFT and earn passive income from it.