One of the options for making money with NFT is the purchase and further resale of lots. Here it is not necessary to create or promote something yourself. It is enough to register on the NFT marketplace, buy the first token and sell it at a higher price. There are just a few things you need to be aware of.
1.Website selection. Most NFTs are created based on the Ethereum blockchain and are most often sold on the largest marketplace - OpenSea. But there is no verification of lots, it’s possible to fall into the hands of scammers or buy something that is not worth even a couple of dollars. If we add large commissions, gas for transactions, a fairly large flow of requests, and, as a result, the speed is lower than that of others, then this option for beginners is rather doubtful.
Some of the tokens are created on the Solana blockchain. There are significantly fewer of them, but the commissions are lower. Some sites have a preliminary moderation of NFT collections, which means that the chance to buy illiquid assets decreases.
2.Buying NFTs. On the one hand, everything is simple - buy the lot you like and sell it for a higher price. On the other hand, you need to buy the NFT token that will bring good profit in the future. And for this you need:
● Understand what collections are in demand.
● Assess the prospects for tokens.
● It is better to buy among the first, as prices are much higher in the secondary market, and the project is not as successful as planned.
So, buying to earn, and not collecting, should be approached thoughtfully
3.Whitelist. This is a great chance to buy a promising NFT at the start of sales. The chance to sell it for 10-20-100 times more is much higher in this case. The essence of the white sheet is that its participants are guaranteed to receive a token at a set price. Indeed, for most projects, especially well-promoted ones, there is a huge line of people who want to buy.
Usually, getting into the list is available to those who participate in the creation of the project: investors, and sponsors. But there is also such an opportunity for a wide audience. To get into the whitelist, it is often necessary to fulfill some conditions. For example, invite friends, retweet, and complete a level in the game. It is recommended to have, at a minimum, Twitter and Discord accounts where information about the NFT is published. In the same place, most often it is necessary to make reposts, and set avatars.
Mint. As soon as NFTs enter the network, you need to have time to redeem the token. Often there are limits of 1-10 NFTs for one wallet. But when using multi-accounts, this condition can be bypassed.
4.Sale. What to do next? Sell NFTs. Any token has a value depending on the project (its popularity) and the rarity of the NFT itself. Usually, in the same Discord, there is information indicating exclusive signs. But even the most common token can be sold for 20-30% more than the original price. If the NFT is rare, then the cost should be set 10-20 times more than at the start.
Should you sell right away? Not necessary. Some options in a week or a month will grow dozens of times. But it's hard to guess.
5.Profit. It should be understood that buying and selling NFTs is a matter of both luck and the project in which you have invested. Out of 10 tokens, it will be possible to earn 1-3, and the rest will be minus. In any case, buying an NFT token at random and successfully selling it for 100 times more is more like science fiction. If you want to make money on this, you need to seriously study the market and understand which projects should “shoot”.
Cifris - marketplace for earning
Super popular sites have a significant disadvantage - the cost of transactions and commissions are often very high. But Cifris has several undoubted advantages:
● Growing daily audience. There are many sellers and buyers on the site with interesting lots for making money.
● 7+ categories. Choose NFT in the area where you are well versed.
● Adequate commissions. And for those who create their tokens on the site, the most favorable conditions for placement and sale.
● Instant transactions. Often speed is what will play into your hands when buying.
It is quite possible to make money on NFT if you study the market well. Given current trends, it will only grow. So, it's time to make money even for those who do not create tokens themselves.