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How to Make Money with NFT?

February 17, 2022

Are you looking for an effective way to earn money? Today, an average user can create an NFT and sell it for thousands of dollars. If you are using Ethereum (ETH) already, you have a basic understanding of how everything works. If not, don’t worry. You can succeed in making money with NFT even without the creation of digital pieces of art. Let’s have a closer look at how to make money with NFT.

Is It Easy to Make Money from NFT?

Do you wonder how to make money on NFT if you aren’t a tech guru? You don’t need to be a startup entrepreneur or a technician to make money with NFT. Of course, you shouldn’t think that you will earn millions from NFTs immediately. But a basic understanding of cryptocurrency and blockchain technology is enough to take the first step.

The main difference between NFTs and cryptocurrencies is that an NFT is a non-fungible token – it is unique. It has one-of-a-kind value in the digital market. When you create NFTs, you become the sole owner of your digital piece of art that you can trade, sell, stake, etc.

5 Ways to Make Money with NFT-s

Did you know that Jack Dorsey, the former Twitter CEO, sold his tweet for about $3 million, while artist Beeple raked in about $70 million for his piece of art? These are just some of the examples of people making big money on NFTs.

Do you also wonder how to make money in NFT? Let’s talk about all possible ways to make money with NFT for you to select the best one for you.

Make Money Selling NFT

One of the most common ways to make money on NFT is to create one and sell it. You don’t need to be a great artist to create digital art. You can transform any photo, video, audio file, etc. into a digital asset. When you have chosen the most suitable file, you need to use a guide on how to create an NFT, go to the platform OpenSea, and sell it there. There are some other platforms, but most beginners choose OpenSea because it’s a very user-friendly NFT platform.

Play and Make Money on NFT Games

If you don’t want to create NFTs, you can choose a more enjoyable way to earn from non-fungible tokens. So, how to make money from NFT without creating anything? Today, you can make money by playing NFT games. Some of the most popular NFT games are Axie Infinity, Illuvium, the Sandbox, Mobox, etc. Pick a play-to-earn game you like most, and enjoy an opportunity to get income while entertaining yourself.

NFT Trading

How to make money with NFT if you are neither an artist nor a gamer? Don’t worry. There is still a possibility to make money on trading. You can go to the marketplace and choose NFTs you like, buy them, and then resell at a more expensive cost.

Does it require specific skills? You don’t need to have any specific knowledge to succeed in trading. Where can you find an NFT for sale? Go to reputable NFT marketplaces like OpenSea, Rarible, and Nifty Gateway.

NFT Staking

If you want to get passive income from NFTs, consider staking. It’s a great way to get income effortlessly. You don’t need to sell your NFT collections. Instead of this, you need to lock NFT on the platform in order to get rewards. The advantage of this method is that you can maintain an owner of your NFTs.

Invest in NFT Stocks

NFT stocks have become a new popular investing trend this year. More and more people want to add NFT stocks to their portfolios. There are many NFT stocks to invest in: Dolphin Entertainment, eBay, Cloudflare, CyberMiles, Twitter, Funko, etc.

Conclusion: Make Your Choice and Earn Money with NFT

As you can see there are numerous ways to make money with NFTs even if you have only basic knowledge about non-fungible tokens. Each of them has its own pros and cons.

Are you a creator? Then, don’t waste time and create your own piece of digital art. Are you a gamer? Use your skills to play popular NFT games and earn profits while playing. You can use more than one way to make money on NFT. Who said that you need to pick only one method of earning income from non-fungible tokens?

For example, you can choose some NFTs for trading and lock others for generating a passive income via NFT staking. Learn more about each way to make money to be aware of all the nuances and set yourself up for success. Earning money with NFTs is easier than it seems – select the most profitable way on how to make money on NFT and improve your financial situation in 2022.