Blockchain Bucks How to Make Money With NFTS
NFTs are a hot market right now. They experienced explosive growth in 2021, and 2022 is poised to be another big year.
And the best part is that NFTs aren’t a passing fad. They are a brand new technology that will disrupt entire industries in the coming years. So those who get into the NFT game now will reap the most rewards.
Wondering how to make money with NFTs this year? There are countless paths to pursue.
Keep reading below to discover what the NFT market has to offer for those willing to put some time and effort into the game.
Flip NFTs
The easiest strategy to start with is flipping non-fungible tokens. You find up-and-coming collections that are undervalued, buy specific NFTs from that collection, and sell when the price is high.
It’s the age-old investing strategy, and it’s the age-old business model. Buy low, sell high.
The strategy, however, is knowing which NFTs are undervalued at the moment and are poised for growth in the near to long-term future.
If you don’t learn how to sift through good and bad NFT projects, you can lose a lot of money, as most projects end up going to zero, rather than the moon.
The easiest way to flip NFTs for a profit, however, is by getting on a whitelist and minting a brand new collection. Right after a collection sells out, the value usually increases, making it possible for those who minted to cash out for quick profits.
How to Make Money With NFTS; Play Games
Another easy way to start earning in the NFT and cryptocurrency space is through play-to-earn Nft gaming. These are blockchain-based computer games. But rather than paying for the privilege of playing them, you can start for free and earn money as you go.
In-game assets and items are actually unique NFTs on the blockchain. That means you can sell them for crypto, and cash out your crypto on an exchange.
Axie Infinity is one of the original play-to-earn games, and some people are making a killing off this pokemon-like game. To speed up the time it takes to start earning, you’ll want to buy Axie Infinity tokens to use for in-game purchases.
Create Your Own NFT Project
You can also design an NFT of your own and sell it through an online marketplace. This strategy can be the most lucrative long term, but it takes a to of work to mint an NFT and build a community of passionate buyers.
If done right, however, you can continue to earn for a long time. You can earn automatic royalties from every future NFT sale, thanks to the power of smart contracts.
So every NFT you design and sell becomes a value, income-generating crypto asset.
Getting Started With NFTs
Now that you know how to make money with NFTs, it’s time to take some action. While there are countless other ways to make money right now in the NFT space, these are some of the most common. They are tried and true and can help you build up a decent chunk of change.
Looking for more ideas like this? Head over to our blog to continue reading.
