5 ways to earn more with NFTs in 2022
As the blockchain world continues to develop, so does how we use and interact with it. With new ways to earn cryptocurrency popping up all the time, it’s hard to track which ones are worth your time and which are the best NFT wallets to safely use.
So, understanding how to maximise NFTs projects’ metadata, smart contracts, marketing and appraising techniques will help you earn more with NFTs through staking, smarter investment in NFT platforms, or even creating your NFT collection.
Read on to discover 5 ways to enhance your income with NFTs in 2022.
Staking Your NFTs To Passively Earn Native Tokens
To stake, buy your NFTs — from a collection minted on a proof of stake blockchain—and lock them in an NFT wallet compatible with the staking platform.
You’d receive your APY (Annual Percentage Yield) in the staking platform’s native token. The staking platform appraises your NFT by its rarity and utilities.
Ideally, you’re better off staking with NFT games like Sandbox, Splinterlands, Wolf Game.
Why? NFT games, compared to other staking platforms, offer NFTs with high demand, impressive APYs, and more utilities.
Investing in Promising NFTs startups
Investing in NFTs startups is worth your time and effort.
Investigating the NFT project’s community is a good place to start. How many members do the community have? Do the admins respond to questions?
Naturally, snooping around in the community should give you a deeper insight into the NFTs utilities, metadata, and marketplace listing, among others.
Deeply peruse their technical documents, projected milestones, roadmaps, website, tokenomics and other marketing routes.
It pays to be an early bird. Jumping into a promising NFT project early and HODLing their NFTs in your NFT wallet could be the difference you need.
Earning real-utility crypto assets from NFT Games
Play-to-Earn (P2E) games reward players with native tokens and NFTs for their playing time.
Compete against other gamers in NFT games to complete in-game milestones and win crypto assets, and NFTs directly transferred to your NFT wallets.
Since blockchain games’ utilities are mostly NFTs, to play, you must buy and have the games’ NFTs in the NFT wallet you’d connect to the game.
However, many NFT games are free to play. Ideally, the Pay-to-Play NFT games have more realistic game economies and a better shot at rewarding their players.
So, Pay-To-Play NFT games are your best bet at earning big in NFT games.
However, Free-to-Play P2E games are not scams. Their low entry barrier might cripple revenue generation a bit, but it’s nothing a fun gaming experience cannot counteract.
Making your NFTs Collection
You can easily mint digital art, receipts, video, music, etc., into NFTs with zero coding experience. Provided you have a smart contract developer, NFT wallet and your selected blockchain’s cryptocurrency.
However, marketing your NFT collection is where the magic happens. Your NFT has no value post-creation until your community breathes life into your collection.
Having a great marketing manager to structure your NFT campaign would sail you a long way towards reaping the NFT rewards.
In addition, you can encode the royalty percentage you’d passively earn from secondary sales in your NFTs smart contract.
Buying your NFTs
OpenSea, NFTLaunchPad and other NFT Marketplaces are great for scouting new NFTs.
You can buy pre-minted NFT directly from its minting site at a discounted presale price. But before clicking mint, think about why you want to buy that NFT.
More often than not, only whitelisted community members can enjoy the presale purchase.
So, how do you get whitelisted?
Be active in the NFT project’s social communities. Share the content, engage with other users, and complete the community challenges.
Other Whitelisting pecks include snagging NFT airdrops directly into your NFT wallet. Either way, you could always buy NFTs from secondary sales in NFT marketplaces.
You obviously must buy NFTs before earning with NFTs. So, getting the best NFT and DeFi wallet is ideal for securing your digital assets against scams.
Thankfully, the 2021 NFT mania is slowly cooling. Unfortunately, the millions of worthless NFTs it birthed are still around.
Therefore, look before you leap. Only some NFTs out there are worth your effort. Remember always to do your own research.