After a sharp jump in the oil and gas market in 2021, many began to think about how promising this is. In fact, making money on tokens is much easier than you think. We share 7 options to increase income using NFT + 2 new ones on the market.
Method 1. Trading or flipping
The simplest option, similar to trading other assets: you buy cheaper and sell more expensive. The price difference is your profit.
Everything is simple here:
- Choosing a marketplace / project. It is better to take a trading platform with a large number of lots and transactions. So you will be sure that you will quickly sell the asset.
- Choice of NFTs. Carefully study the token, check its authenticity. If you invest at the listing stage, then follow the project in order to promptly sell NFT or monitor growth dynamics.
According to statistics, with the right choice of an asset, it is realistic to earn 20% of the initial cost. If the project "takes off", then in a few months the profit will easily grow by 100-1000-10000%.
A similar option is selling domain names. The main thing is to register the one that will be bought for several tens of thousands of dollars. For example, picaruuns.eth went to a buyer for 10 thousand dollars in 4 days.
Method 2. Royalties from NFT
This option is available to those who sell their own NFTs. Everything is simple here - you need to enter data on the percentage of royalties in the smart contract - the value that you want to receive with each resale. The maximum value is 50%.
That is, when you sell your NFT for $100, 50 of them will automatically be credited to your account. If you increase the price during the next resale, you will still receive 50% of the last price.
Method 3: Staking NFTs
A little-known but effective way to earn money. Staking is the transfer of your digital asset to the protocol for storage for a certain period of time in order to make a profit. In fact, this is an analogue of a bank deposit, but instead of money in the account, you transfer NFT.
Before you start earning money through staking, make sure it works with nft or the project you want to enter. Next, study the annual yield to understand how much you will receive in a year.
Method 4. Liquidity pool
In order for every user to be able to buy and sell NFT tokens, automated market makers, DeFi are asked to contribute to their liquidity pool. Simply put, this is part of the tokens locked on the smart contract that provide trading on the crypto markets. Earnings are formed from commissions received from transactions in the pool.
At the time of depositing funds, NFTs of the liquidity provider are issued. You know exactly your share in the pool, and if you wish, you receive additional rewards. When investing, it is really possible to earn tens or even hundreds of percent.
Method 5. Lease NFT
It seems that this is nonsense, but now some of the non-fungible tokens come out with additional “bonuses”. For example, the ability to access closed courses, materials, meetings. That is, a person is willing to pay for the benefits that your NFT provides.
Method 6. Games
There are several options:
- Blockchain games with NFT. That is, the token acts as a character. When performing some tasks, defeating the enemy, you receive a reward in cryptocurrency.
- New individuals. Create offspring with unique characteristics in order to sell them in the future.
A striking example is Axie Infinity. Here the user receives tokens in the form of a reward. And when using 2 characters, offspring up to 7 individuals are created, ready for sale. If you are an avid gamer, then the option of blockchain games to earn money is a great option.
Method 7. Create and sell your NFTs
It doesn't even need to be super popular or draw masterpieces. It is possible to transform anything into a digital asset: from a song or animation to games, domain names, articles and much more.
Method 8. A new way to make money - licensing intellectual property rights
NFT tokens are increasingly sold with commercial rights. That is, you can license commercial projects using your nft. For example. Richard Lee licensed (licensed) the rights to his bored monkey (Bored Ape) to a cannabis company. When this monkey was placed on the product packaging, the product became a hit, especially among those who are close to the crypto world.
Essentially, you are selling the rights to use your NFT for advertising, packaging, or other marketing activities.
Method 9. Investments
With the growth of the NFT market, more projects are released every month. For your financial investment, you get a share in the company. This is the easiest way to generate passive income.
Before investing, you should carefully consider the selection of NFTs. Contact Cifris experts to make the right choice.
Whatever method of earning you choose, always carefully study the asset you like. And be sure to subscribe to the Cifris blog so as not to miss the news from the NFT world.