How to make money from NFT is a great topic that not only attracts the attention of investors but also a new trend noticed by many young people these days.
Cryptocurrency investing is an explosive money-making trend in the technology age. As the blockchain platform is more and more complete and developed, NFT has become a method of passive investment that many people are interested in. Currently, making money from NFT is not only popular with financial corporations, investors or celebrities, but also becomes an income-generating trend of many young people. So how to make money from the hottest NFT platform today? Let’s explore with us through the following article.
How to Make Money from NFT by Creating NFT Items? All Details Revealed Below
Do you know about What is NFT and how to make money from it? Revealing to readers is that now from paintings to songs, fashion collections and even NBA collectible cards, in-game items,… there is a lot of potential when turning them into NFTs. This is also a great way to demonstrate the authenticity and ownership of innovative products. If you are really talented (or lucky), you can make a decent amount of money from this trend.
From there, many people search for how to create NFT and how to make money from this platform. Specifically, each NFT is built and supported by a specific blockchain. Among them, Ethereum NFT is the most popular today. Besides, Binance is also the commonly used blockchain. In addition, Polkadot, Tron, Tezo… are also blockchains you can refer to.
Creating an NFT is not too complicated, you can be guided through the entire process at several platforms. In it, 3 basic components you need to create NFT include: your item, a cryptocurrency wallet to trade and store your cryptocurrency, some cryptocurrency to trade and pay fees, mainly is Ethereum.
Once you have chosen where to create the NFT, you need to check the e-wallet that will be used to transact on the selected blockchain. For example, if you choose Ethereum, you will need an Ethereum wallet. Many people choose the simpler form of using digital wallets that can support multiple blockchains. However, whichever wallet you choose, you should double-check the compatibility of your chosen e-wallet and blockchain.
Next, you will choose the platform to mint the NFT, it depends on the blockchain you use. Technically, most NFTs will be the same no matter which platform you choose. However, for your convenience, you should choose a platform that has an exchange that you often use.
In general, the process of creating an NFT is quite simple, the platforms will have specific instructions for you.
Discovering Popular Ways How to Make Money From NFT
After you have created your own NFT, here are the popular ways to earn from NFT that you can refer to:
1. Sell Digital Artworks
As commented by Sun Bohan – CEO of BlockCreateArt (BCA) platform:
The art of cryptography in the form of NFT is an emerging trend formed from the “connection between art and blockchain-based platforms, between culture and technology”.
Collecting or selling digital works is the most valuable way to make money from the NFT platform. The profits made this way are often staggering. Another art work of Beeple is the painting: Everyday The first 5,000 Days which has been sold for 69 million USD, real “huge” with a virtual work.
NFT has really created a craze in the art world and is considered a technological revolution for art creators. The attraction of the $69 million deal has attracted many big players in the auction industry to participate in this market such as Sotheby’s and Philips.
To make money from digital assets, you can create your own work, or participate in NFT Art collecting, buying and selling activities.
2. NFT Fashion Participation
Similar to NFT Art, more and more fashion brands are benefiting from the NFT trend by releasing digitized limited editions of their collections and apparel. NFT about fashion guarantees authenticity and eliminates the risk of counterfeiting, which is becoming a trend chosen by many brands.
You can build an NFT marketplace for apparel and accessories, generating unlimited revenue in a safe and high-potential environment.
3. Collect and trade collections
NFT collections will not be damaged or lost when traded, they exist in digital form and are stored securely on the blockchain. NFT collectibles are unique, cannot be copied, and therefore have a higher value than normal.
The most popular collectibles in the NFT market today are sports cards. Previously, collectors could only trade licensed player cards. Now, the National Basketball Association (NBA) has released the NFT collective collection. Going forward, more sports will launch NFT collections.
4. Make money from NFT Games
Making money from NFT Game is becoming a trend among virtual currency enthusiasts around the world. Instead of spending money and time just to play games for fun, with the combination of blockchain technology, virtual money games can now help players earn money.
Specifically, the NFT game replaces traditional “points” in the form of tokens. These tokens can be exchanged for other coins or cryptocurrencies with real money value through exchanges. In addition, in NFT game items/accessories will be encrypted in the form of NFTs – a unique verified virtual asset. This certificate allows owners to buy, sell and exchange in-game items for others through the NFT platform.
Should the game form to receive bonus points, players can also sell their characters to other people to make a profit. Game characters will be sold as NFTs on the exchange. Similarly, players can also sell game accessories/items in the form of NFT.
There have been many cases of gamers selling virtual land plots on Decentraland and earning thousands of dollars. You can also purchase F1 Delta Time racing tracks in the form of a Blockchain, at which point you will receive a profit from your entry tickets or from races that take place on the track you purchased.
Is it interesting? it’s like a real-life, virtual business but still has real money. Many people are willing to spend significant amounts of money to own in-game items, so the profits from trading game items are quite attractive.
Leading the trend of NFT Game is Axie Infinity (AXS). This is a virtual currency game by Nguyen Thanh Trung – a Vietnamese developer who is becoming a PROMOTION with more than 1 million daily active players and the total market capitalization of this game at one point reached nearly 5 billion USD. . From the success of Axie Infinity, a series of similar games have been born such as Simba Empire, Lost Relics…and the upcoming My Neighbor Alice is equally “hot”.
Before making money from plowing the game, players need to spend some initial capital to own the game character. For example, with Axie Infinity, you need to buy a pet and bring this army to battle to receive the reward of SLP – the virtual currency of the game. These virtual currencies can be exchanged for real money. Likewise, the Simba Empire game also has a bonus point as a SIM token, which can be converted into cryptocurrency and collects real money for players. Simba Empire does not take much time to “plow” but requires reasonable tactics and luck.
In addition, some investors believe that, instead of spending time playing the game, they will make money by speculating the game’s cryptocurrencies. When the game has many players, these coins will become scarce and highly valuable. This is also the trend of cryptocurrency investment that many investors are interested in.
How to make money from NFT platform is still a topic that many people search for today. In particular, the development potential of NFT also “makes money” from NFT is still much to be discovered, participants need to study and learn carefully to seize the opportunity. NFT developers are constantly developing and opening up many innovations in other fields such as media, entertainment, real estate… and are expected to continue to explode in the near future.