How to make money with NFTs

Everyone’s talking about the big money involved in NFTs. Wanna get a piece of the action? Here’s how to make money with NFTs.

Amazing returns have changed the lives of NFT creators and investors alike.

It was earlier this year when Beeple’s NFT shattered the internet and transformed the world’s perspective of digital collectibles.

And every day, there are new brands, companies, and celebrities joining the NFT bandwagon. New NFT collections are published and many are sold for millions. Of course, not all NFTs are created equal: some are priceless, some are not.

How can someone like you and me make money with NFTs? Let’s figure it out.

Method 1 – Make money with NFT art

Individual NFT artworks are the most profitable Non-Fungible Tokens ever made.

On March 11th, the history of art and blockchain technology altered forever. An NFT work of art sold for $69 million at Christie’s, a world-renowned auction house. Christie’s sold a totally digital artwork for the first time.

If you’re a digital artist or a creator, you might be in luck.

Anything digital can be sold as NFTs. Sell your creations as NFTs to earn money.

Original digital art, music, memes, videos, and audio snippets. A New Yorker even marketed his farts as NFT! So go. Your imagination is the only limit.

Here’s how you can make your own NFTs.

Wondering which are the top-selling digital art NFTs? Take a look at the top collections here at OpenSea.

Method 2 – Make money trading NFTs

NFTs can be bought and sold for a profit through NFT trading platforms.

In less than 6 months, Miami-based art collector Pablo Rodriguez-Fraile flipped a Beeple digital art piece about 1,000 times!

But not all NFTs are equal. Some are millionaires, while others are worthless. As a collector, you must evaluate a piece’s resale value.

It’s similar to how you’d buy an art piece or stock, hold it for a while, and sell it later for better evaluation.

You might have to bear the cost of listing prices on NFT marketplaces while doing the transactions though.

Tip: The more rare your NFT piece is, the higher the price.

Method 3 – Make money with NFT Gaming

Well, these days you can even make money playing NFT games.

While playing these crypto games, iIn-game objects may be bought and traded in blockchain-based games.

They are already highly prized items in games like CryptoKitties. One crypto kitten sold for over $300,000. Recently, more games have cheaper NFTs. Some even give out souvenirs for free to the first few gamers.

There are more NFT games like Gods Unchained and My Crypto Heroes. Here’s a screenshot of how much money is involved in NFT gaming.

Here are some of the best NFT games for Android. Check them out and join one to start off.

Some of them have entry prices, some don’t, and encourage getting collectibles and in-game objects.

The better you play, the more you buy, and the more you earn.

Method 4 – Make money renting NFTs

Renting out your NFTs, especially in high demand, is one method to make money from NFTs.

A player can borrow NFT cards to improve their chances of winning in various card trading games. Smart contracts manage the conditions of the arrangement between the two parties. Thus, NFT users may generally choose their chosen rental time and fee.

reNFT is a popular marketplace for renting or lending NFTs. In this way, lenders may specify maximum borrowing durations and daily rates between 0.002 and 2 wrapped Ethereum.

Method 5 – Make money with NFT staking

NFT Staking? What is that you ask. Hear me out.

NFT staking is the practice of preserving NFT digital assets as ‘stakes’ and allocating them to those willing to maintain them for a while.

In return, you get a piece of the pie.

There are many websites that let you stake your NFTs. Rplanet is one of the places where you may stake your NFTs for prizes and incentives.

Kira, NFTX, Splinterlands are all good websites for NFT staking.

Summary:

Making money with NFTs is easy. There are plenty of ways you can make money with NFTs as mentioned above. But what matters is how unique your NFTs are and how lucky you get.

We shall update this article with more ways to make money with NFTs as we find them out. So bookmark this page and share it with your friends.