If you have ever searched for “different ways to make money with NFTs” on Google, then you will know that there is a plethora of complex and unnecessary information. Fortunately for you, I have gathered, compiled and compressed all relevant information into this short article. Here are some different ways to make money with NFTs.
#1 Trading
Trading is probably the most common and popular method of making money with NFTs. Essentially, trading NFTs can almost be treated like trading stocks. The name of the ‘game’ is to buy low and sell high, otherwise known as flipping.
The key to being a successful NFT trader is to properly educate yourself and to use all of the resources at your disposal (such as trading tools) to know when to buy and when to sell. It is not uncommon to be able to buy an NFT token, only to later sell it for x2 – x5 or more at a later date. Saying this, NFT trading can be very risky, so please exercise caution and do your own due diligence before attempting it.
For more tips on how to trade NFTs, read our exclusive interview with one of the most successful NFT traders in history.
#2 Launching An NFT Project
One way to make money with NFTs is to create and launch a project. While it’s not quite as easy and simple as it sounds, if you can successfully mint out a full NFT collection, then you will generate a lot of capital very quickly. Not only will you receive the initial mint revenue, but also continue to earn through royalties.
To get started, begin networking and look for a potential artist and developer, then create a project business plan.
You’ll need a good idea, a great team, and a lot of hard work to pull this off.
#3 NFT Gaming
Play-2-Earn (P2E) gaming has become very popular recently thanks to crypto P2E games. We are in an era in which it is possible to make money by participating in video games. In essence, by playing a P2E game, you can earn in-game currency which can be converted into FIAT (real money).
There are many different ways to make money with NFTs, but these three are the most accessible and easy to get started one. Some honorary mentions are, renting out NFTs, staking, yield farming and investing in start-up projects. The NFT space is a very new and rapidly evolving one. There are going to be more and more opportunities arising in the near future, so be sure to stay one step ahead to earn money in Web3.
