Everyone from celebrities to athletes is launching their own NFTs. NFTs keep making headlines as more and more celebrities get involved. You need to keep in mind that not all NFTs are of equal value. Some NFTs sell for millions, while others are worthless. It may be that NFTs are cheap in the initial stage, but its price can go to the moon at any time we don’t know. Don't worry there are ways to make money with NFTs.
HOW TO MAKE MONEY WITH NFTS AS A BIGGNER
A New Era of Digital Art: The Advent of Non-Fungible Tokens (NFTs)-nft art
Before going through these steps, you must first understand what is an NFT? The following is a brief introduction to NFT. What is NFT? NFT (Non Fungible Token) is a unique digital asset stored on blockchain technology. It can be photos, videos, GIFs, music or even tweets. Twitter CEO Jack Dorsey sold his first tweet as an NFT for $2.9 million. You cannot swap, split or copy NFTs. To learn more about what NFTs are, you can check out the Non Fungible Tokens explained,BEST nft art to buy in 2022
Given below are 5 easy steps to make money with NFTs as a beginner; 1. NFT royalty income The first easy way to earn money with NFTs is to set up royalties. NFT royalties give you a percentage of the sale price. Anyone who mints NFTs can earn passive income by setting a royalty rate. The royalty system varies from market to market. On the high seas, you can set royalty rates as high as 10%, while some markets only give 4-5%. Traditionally, whenever an artist sells their work, all of their income comes from that work. No matter how much fame they've gained over the past few years, they can't make any money from the work they've sold before. That's how the system works. NFTs come up with a lot of opportunities to change this system. Now you can also make money selling your art.
- Staking NFT NFT staking opens up another way for collectors to benefit from NFT collections. In this case, you do not need to sell your NFT. You can lock your NFTs in a digital wallet on a given blockchain for a period of time in exchange for some rewards from the staking platform. Rewards can be given in the form of some tokens that can be sold on any exchange. Some of the best NFT staking platforms are given below; 1. Spintland 2. NFTX 3. BAND NFT 4. Governor's Capital 5. Multichain Monster 6. Fair Liquidity However, all NFTs cannot be staked. Therefore, you need to do your own research before buying NFTs.Read more..https://ayanazvs.blogspot.com/2022/06/How-to-Make-Money-with-Nfts-in-2022-as-a-biggner.html
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