The Best Ways to Make Money with NFTs
When researching how to buy NFTs, you should pay sufficient attention to the approach you will take to generate a return. Thanks to the growth of the NFT market, there are numerous ways to produce profits through NFTs – whether that be actively or passively.
With such a saturated NFT market, some projects are offering the best NFT giveaways to encourage new users to engage with a variety of NFT collections. With that in mind, let’s dive in and explore how to make money with NFT tokens by reviewing the most profitable strategies that you can take:
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2. Ecoterra Platform: Leveraging NFTs to Incentivize Eco-Friendly Actions
Ecoterra uses NFTs as a tool in the fight against climate change while allowing users to make money. This strategy primarily aims to incentivize individuals to combat global warming actively.
A significant feature of this platform is the integrated carbon offset market.
This allows users to reduce carbon emissions by swapping EcoTerra tokens for carbon tonnes. These carbon offset achievements can be earned through involvement in certified, high-quality global initiatives and exchanged for NFTs. The presale price for an $ECOTERRA token currently stands at 0.00775 USDT.
3. Receive Compounded Gains from a HFT Fund by Investing in the Uncharted NFT
Another way to make money with NFTs is to purchase one connected to a real-world functioning trading fund that distributes earnings to holders. One excellent option is to invest in The Uncharted NFT collection, a project that bridges the gap between TradFi and the Web3 industry.
4. Invest in Promising New NFTs Early
One of the best ways to make money on an NFT is by investing in promising new collections early before they skyrocket in value. Many of the best NFTs to buy were initially minted at a low price, with their value increasing exponentially in the weeks and months after launch. Some of the best utility NFTs have so much potential to enter mainstream adoption. Check out our guide on the best utility NFTs for more information.
A prime example of this is CryptoPunks, which could be purchased in 2017 for between $1 and $34. When the NFT craze took over in 2021, these ‘Punks’ became incredibly valuable due to their first-mover status within the space. This culminated in these NFTs being purchased by celebrities and other high-profile names – with one Punk even selling for $24 million!
5. NFT HODLing
One of the best strategies to employ when researching how to make money with an NFT is to invest and ‘HODL’. For those who haven’t heard the term, HODL stands for ‘Hold On for Dear Life’ and was popularized by retail traders during the GameStop short squeeze of 2021. Since then, the term has been used to describe an investment strategy where you simply do not sell – regardless of what happens.
Investors who buy cryptocurrency will know that there are both pros and cons to adopting this approach. However, if conducted strategically, HODLing can be a great way to make money with NFTs. Going back to our example of CryptoPunks, investors back in 2017 may have opted to sell because the value of their Punk was not going up. However, those investors who chose to HODL will have reaped the rewards when prices skyrocketed in 2021.
Needless to say, this approach won’t always work, as some NFT collections will not experience the uptake necessary to generate price momentum. However, many of the projects listed on our NFT calendar are already beginning to gather momentum from social media – meaning there could be some great investment opportunities in the weeks and months ahead.
6. Flipping NFTs
‘Flipping’ is another effective way to make money with NFTs. As defined by Fortune.com, flipping refers to the process of buying low and selling high, thereby producing a positive return. The critical distinction between flipping and other investment strategies is that flipping is usually a very short-term approach, contrasting with the HODL strategy described above.
Finding the best NFT to make money and then flipping it for a profit is challenging, especially since there is so much competition in the market nowadays. However, it is not impossible – although there are numerous factors to consider when researching how to flip NFTs for profit.
7. Minting Your Own NFTs
A common approach for those wondering how to make money on NFTs is to mint your own NFT. Minting refers to the process of taking a digital asset (such as digital art or music) and placing it on the blockchain. Once the asset is minted to the blockchain, it can then be traded on the best NFT marketplaces, allowing you to monetize your creation.
Minting NFTs is a relatively straightforward process, with top marketplaces like NFT LaunchPad making the process easy for beginners. Due to the enormous growth in the NFT market, the competition among creators is intense, with new collections springing up every day. Thus, if you wish to take this approach, you’ll need to ensure that your creation stands out from the crowd.
8. NFT Trading
In a similar vein to NFT HODLing and flipping NFTs is NFT trading. This process is more geared toward making incremental capital gains over the long term rather than getting in and out of the market as quickly as possible. Investors interested in NFT trading will often buy and sell an NFT for a small profit and then repeat this process again and again.
9. Staking NFTs
Those interested in crypto staking will be pleased to know that this process can also be related to NFTs. NFT staking can come in various forms, although the primary mechanism used is to ‘lock up’ their digital asset on a DeFi platform and receive rewards in return. This usually occurs on Proof-of-Stake (PoS) blockchains and rewards the owner with the network’s native token.
10. Generating Royalties
Royalties go hand in hand with selling NFTs and form one of the most exciting elements of the market. During the minting process, the creator can set their own royalty percentage, which means that any secondary market sales will provide the original creator with a payment. Most NFT royalty levels are set at 5% or 10%, although some do go higher than this.
How to Make Money with NFTs – Conclusion
To summarize, this guide has discussed everything you need to know about how to make money with NFTs, highlighting ten of the most profitable approaches you can take in the market. With the NFT craze showing no signs of dying down, there’s tremendous returns potential for investors – providing a viable alternative to traditional asset classes.
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Disclaimer
This is a sponsored post. The information provided in this article is for informational purposes only and does not constitute financial advice. DeFi Planet does not endorse or recommend any specific investment decisions and reminds readers to conduct their own research and due diligence before taking any financial actions. DeFi Planet is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the sponsored post.
