The exponential growth in the NFT market over the past 18 months has offered up numerous exciting ways for investors to generate a return. Digital assets have become a compelling way to diversify investment portfolios – with this trend set to become increasingly popular in the years ahead.
This guide will discuss how to make money with NFTs in detail, highlighting the most profitable approaches you can take before showing you which trading platforms are the best for investing in NFTs today – all from the comfort of your own home. The Best Ways to Make Money with NFTs
If you’re wondering how to make money with NFTs, it’s vital to understand the approaches that produce the greatest chance of profitability.
Listed below are ten of the best methods you can employ to make money on NFT tokens – all of which will be discussed in the following section: A Closer Look at How to Make Profit 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 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: 1. 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.
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! What is Lucky Block?
Since CryptoPunks are now out of the grasp of most retail traders, what is the best NFT to make money using this strategy? After scouring the market and conducting extensive research and analysis, we believe that Lucky Block meets this criterion.
Lucky Block is an exciting new crypto-lottery platform hosted on the Binance Smart Chain (BSC). The developers recently opted to launch their very own NFT collection called the Platinum Rollers Club, which contains 10,000 NFTs that can be purchased through NFT LaunchPad .
The exciting thing about these NFTs is that each one acts as an entry ticket into exclusive daily prize draws, with an average jackpot of $10,000. Interestingly, there are 25 ‘Rare Editions’ within the collection, which will allow the holder to receive double the daily prize pool if their number comes up.
Given the incredible growth of Lucky Block over the past few months, these NFTs are expected to sell out quickly. In addition, the upcoming launch of Lucky Block’s daily lotto draws will undoubtedly increase the demand for these NFTs – which could increase their value over the longer term.
Cryptoassets are a highly volatile unregulated investment product. 2. Play-to-Earn (P2E) NFT Games
Another approach if you’re wondering how to profit from NFT tokens is to take part in play-to-earn (P2E) NFT games . Many of the best NFT games now employ P2E features, which allow players to generate rewards through skilled gameplay. These rewards are usually denominated in the platform’s native token – meaning they can be spent on in-game items or exchanged for FIAT.
Using NFT games to make money has become a popular approach, with numerous exciting platforms springing up that offer a way to generate consistent income. Axie Infinity is one of the most prominent since users can ‘battle’ other users and earn rewards. In addition, since most important in-game items are structured as NFTs, the digital currency earned as rewards can be ‘reinvested’ into better items – leading to increased performance.
Investors can also buy Axie Infinity tokens (AXS) on cryptocurrency exchanges to gain indirect exposure to the P2E space. Given the success of Axie Infinity, other projects are beginning to gather momentum, such as Silks , The Sandbox, Decentraland, and more. As time goes on, we will likely see these platforms become more widely used as crypto adoption gathers pace, meaning this trend isn’t going away anytime soon.
Cryptoassets are […]
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