NFTs market increased in the past two years in their major sector of the crypto industry. The total money invested in purchasing NFT is around $12.6 billion to $162.4 million at the start of the year. NFT is a vast field that is created, bought, and sold on Ethereum. NFTs are good at using games there are often digital representations of objects which can be sold.
The first thing we need to know about NFTs’ full form, NFTs are called non-Fungible Token. In today’s world, these tokens can be used as a form of property because they have a cord value and can’t be divided into small quantities.
If we talk about how to earn money from this technology then there are multiple ways which we will share below.
What are NFTs?
This is for those who don’t know about NFTs. They think it’s a tradeable digital receipt stored on a public circulate database which is called a blockchain. The content creator and Original artist of NFTs earn money through selling in the secondary market. For example, the first owner sells his NFT after this investor sells the NFT to another buyer in the secondary market.
Trade NFTs
You can spend on NFTs by buying something and then selling them in a profit. Not all NFTs are created equivalent. Some collections are worth a million and some are not too much worthy. As a collective person, you need to find a piece with critical eyes means focusing on that collection that makes money.
Create and sell your NFTs
If you are a creator and have a wish to monetize and you don’t know how to do this? You want to increase your income by selling NFTs. So, you can create anything digital such as digital arts, music, memes, video, audio clip, etc. after this making, you can sell your creation and earn money through NFTs.
NFT gaming
We are living in a digital era where anyone can play a game and earn money. Block chain-based games allowed us to purchase game items in NFTs. In today’s market, there are some high-value collectibles games one is Cryptokitties. This one game Cryptokitties has made more than $3000, 00. Other Different games are recently introduced with affordable NFTs and some games are free for first couple of players.
Staking NFTs
What exactly is staking? Staking is the process of keeping digital assets in the form of a ‘stake’ and assigning them to individuals who are prepared to keep them up to date. In exchange, they give you a portion of the prize. On numerous sites, including Planet, you can stake your NFTs to gain rewards and incentives.
To read our blog on “How to raise an invoice as a Freelancer,” click here.
