The NFT revolution took the world by storm. The success of Beeple art, which sold for $69.3 million, made Mike Winkelmann, its creator, rise to pinnacles of success and fame overnight, making the entire world dumbfounded.
Ever since the spectacular successes and huge money started pouring into NFT artists, the art gained significant momentum. And, hey, you don’t need to be necessarily an NFT creator to earn big money.
There are various other ways NFTs can fetch you good money and make you rich. If you want to earn with NFTs, you have landed on the right page.
This blog delves into the various interesting ways to earn great money with NFTs. By the time you reach the end of the blog, you will have surely decided on which options to choose.
Let’s get started.
Ways to Earn with NFTs
Before we get into the ways of making money with NFTs, let me mention some golden points. To earn with NFTs, you don’t have to be an expert. Anyone with any level of NFT or crypto knowledge can generate passive income from them. Whether you are a novice or a savvy crypto investor, you have your options available.
But as some money creates more money, if you have some ETH to start with, you can earn with NFTs easily. However, even if you don’t, it could be possible.
Anyway, let’s start exploring the ways to earn with NFTs.
NFT Airdrops are one of the best ways to earn with NFTs.
Check out the types of NFT Airdrops.
NFT Holder Airdrops
NFT hype continues and shows no signs of slowing down. To boost NFT fiends and increase the value of NFT communities, most NFT series airdrop free NFTs to your wallet in case you hold an NFT already.
NFT Platform Airdrops
Most NFT platforms airdrop their native tokens to people using them, particularly if you are an early user of the platform. For example, top NFT marketplaces like Rarible, SuperRare, and Opensea offer their users such airdrops.
Whether you mint, buy or sell NFTs, you get paid rewards. Isn’t it nice?
Create your NFT and start earning ETH crypto
The frenzy around NFTs and the fame and money they bring along would make anyone think of creating their own NFTs.
And, I am sure you are not an exception. Well, you can mint your NFTs and sell them on NFT marketplaces like Opensea to earn good money. It’s not just the one-time sale proceeds you make; you keep getting royalties on secondary sales each time someone sells your NFT, provided this clause is embedded in your smart contract.
That being said, you will need some ETH to start with as you need to pay gas fees to mint NFTs on Ethereum.
And, do keep in mind that demand for NFTs is purely driven by who wants to buy them. Unlike stocks or cryptocurrency, where you forecast the price based on market trends, fundamental analysis, and more, in the case of NFTs, the technical indicators don’t work.
So, you may create 100 versions, but how many sell and out of that, how many bring secondary sales is for you to wait and watch. Anyway, get started with minting an NFT!
Trade NFTs on the marketplaces
If you have some ETH, you can start trading or flipping NFTs on the secondary market.
Several investors make good money simply by buying low and selling high NFTs. While this may seem a little difficult to start with, the most common strategy applied here is the Popular Profile Picture NFTs, known as PFPs.
There are two options here. One way is to mint a new NFT series, like the Bored Apes Yacht Club (BAYC), which started at a low price for the cheapest ones at 40ETH now. As sales go up, they will sell for millions!
Another way is to buy a rare one in the series. Then, sell it to someone at a higher price! However, this would require you to have a thorough knowledge of the subject, and you may use some tools like Raritytools.
Alternatively, you may sell PFPs at lower prices if you wish to go for a low budget. But beware of these super-addictive games!
Start NFT trading today!
Play-to-earn (P2E) games
With the launch of NFT-based gaming arenas like Axie Infinity, gaming too, became a great way to earn cryptocurrency. Play-to-earn (P2E) games are a gaming model where gamers earn for playing and participating in the games. These P2E games have in-game collectibles or characters which players earn as rewards while playing or purchasing them. The in-game assets are NFTs which you can sell and make profits in the secondary market.
There are many P2E games like Splinterlands and Berserk. A point worth mentioning is while players earn rewards in these play-to-earn games, sometimes you get extra points or rewards on certain occasions, say if you are an early player.
Start playing P2E games, if you haven’t yet, and find your way to the best NFTs!
Staking your NFTs
Just like you stake Ethereum, you can stake NFTs too.
Yes! You read me correctly. And, how does it work? Well, like staking any crypto asset, you lock up your NFT on the platform for a specified duration. During this period, your NFTs help you earn a passive income.
Use Twitter giveaways to earn with NFTs!
This is the simplest way to earn with NFTs, though not a sure-shot one!
You must have come across them like ‘Tweet, Retweet, Follow..’ to win a free NFT.
Many NFT enthusiasts have won NFTs by tagging friends and following the account that gives away this NFT.
However, you will not always win; in fact, most of the time, you won’t. Hey, but just think, it takes only a minute to join. So, why not try?
Make sure you have 100+ followers. Keep yourself active by tweeting about yourself, the dynamic crypto world, NFTs, and more! Don’t just retweet NFT giveaways, as that makes people skeptical about your account. Also, most people don’t like bot-managed accounts!
NFTs are like hens that lay golden eggs. There are various ways you can earn with these amazing digital assets. Remember that all your NFTs may not get sold. However, even if one exquisite creation sells, it will make you rock!