Make money with NFTS
Non-Fungible Tokens (NFTs) have become a tool many people use to increase their income. As of today, you can cast almost anything into an NFT — from rare baseball cards, digital art, in-game accessories, and even physical real estate. NFTs are slowly integrating into the physical and digital worlds. Renowned art and luxury auction house Christie’s, which entered the field at the height of last year’s NFT trend, sold its first NFT artwork in March 2021 for a whopping $69 million. The asset is a digital artwork titled "Everydays: The First 5000 Days" and is the work of Mike Winkelmann (aka Beeple).Before the auction, Beeple was a digital art creator driving "a tattered Toyota Corolla." After the auction, "Beeple" became a household name in NFTs and the art world.
What makes NFTs valuable?
Let's take Beeple and his Twitter profile as an example. You can see almost his entire digital art collection on social media platforms. So, since you can follow his community account, why pay for his NFT? You can't even hang these artworks on the wall. Here's the thing: the moment he casts his masterpiece into an NFT, his art lives forever on the blockchain. Blockchain technology makes it possible to verify and tokenize NFTs as unique works of art. In addition, it will also become a digital collectible. Anyone can check online who owns it, and how much the market is willing to bid and how much it is worth. There are no rules on how to determine the value of an NFT, but in general, the price of an NFT is determined by rarity and utility.
4 Ways to Make Money in the NFT World
Become an NFT creator and sell your creations in the marketplace You can create NFTs during the "minting" process. If you have no coding knowledge, there are NFT marketplaces like OpenSea and Rarity that allow you to create NFTs without technical issues. It's as easy as registering and creating a profile on Facebook. You can make NFTs with art, games, music, collectibles, memes, and domains. You can also create NFTs using real-world assets such as real estate. The first property sold as an NFT was TechCrunch founder Michael Arington’s apartment in Ukraine.
Play NFT games:
What makes blockchain games unique is that they give players the ability to "play and earn". In a nutshell, it means you can earn something and extend this to earning money by playing games. Some even consider it a full-time career because their gaming time can be monetized. Axie Infinity is one of the most popular NFT games today. The game is often associated with Pokemon because you can train your digital pets, breed them, and have them fight. There are other games that require more skill and strategy to make money, like Gods Unchained. If you love cars, Battle Racers lets you build powerful cars. If you like fantasy football, you can check out Sorare.
Building virtual worlds in the metaverse
Decentraland is a virtual world where you can buy land, build communities, and grow your economy to earn money. If you're a fan of Minecraft and Fortnite, the alternative universes offered by Decentraland might interest you. The only difference between a blockchain-based Decentraland world and a game like Minecraft is that you can own all the assets in Decentraland. These assets can be sold, bought and traded. You can also create your own assets and sell them on the NFT marketplace to earn money. You can make money here just like in the real world. For example, you can buy land early in the market and then sell it on the NFT marketplace for a profit. You can provide skills and services in the virtual world, including coding, marketing, and film production, and get paid.
Stake your NFT:
"Staking" is the process of storing your NFTs on the platform in exchange for rewards. If you don't know what to do with your assets, this is a more appropriate way to make money. Since it does not involve selling assets, you will retain ownership of the NFT. Not all platforms offer the option to stake NFTs. You can check more details about the asset to see if it is possible to stake before investing. Most offering NFT staking are blockchain-based games such as MOBOX. This HODL strategy is ideal for speculative investors. Staking rewards are usually tokens native to the platform or protocol and can be exchanged for other tokens.
In conclusion, NFTs can be a legitimate way to make money. Creators are incentivized to convert their work into NFTs as it provides additional value in a hot market. Not all NFTs are created equal, and there is no rulebook on how to study the value of an asset. AAX is an exchange for everyone. We firmly believe that there are no classes in cryptocurrencies, and through a series of low-entry products and services, as well as actively promoting cryptocurrency culture, we open the door to about 96% of the world who do not yet own Bitcoin and other digital assets to build better, more An inclusive economic system. AAX is used by more than 2 million users in more than 100 countries around the world. We are not only the first exchange to use the "SATS" standard to promote the application of Bitcoin, but also the first trading platform to adopt the technology of the London Stock Exchange Group (LSEG), and provide high-yield wealth management products, 100+ coins Currency trading pairs, high-liquidity contract market, regular discounts on mainstream currencies, and various deposit channels. Open an account with AAX today, or download the AAX Mobile App to experience the next generation of cryptocurrency exchanges.
Disclaimer: The article only represents the author's personal views and opinions, and does not represent the objective point and position of the block. All content and opinions are for reference only and do not constitute investment advice. Investors should make their own decisions and transactions, and the authors and blockers will not be responsible for the direct and indirect losses caused by investors' transactions.
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