One of the popular topics of the last period is NFTs. Everyone is talking about NFTs and they are being described as the future of digital art, digital money, investments and more. So what is NFT, how to make money with NFTs? Curious answers..
What is NFT?
NFTs are data that cannot be changed. Because they are unique. Cryptocurrencies can be given as an example of exchangeable ones. Cryptocurrencies are digital currencies. It does not exist in a physical form; It cannot be held physically like a dollar. However, just like with dollars, a cryptocurrency can be exchanged exactly the same as a cryptocurrency. This is because they have the same value. NFTs are unique and can be linked to the same blockchain, but each is different. This is why NFTs are used for products such as works of art, music, videos.
NFT is expressed as digital assets stored in the blockchain and protected in the system. Images, music, videos, virtual game items, tweets, GIFs, etc. many works can be bought and sold as NFT. In this way, the digital property of the work is given to an individual and at the same time this digital property is protected by the blockchain, so its uniqueness cannot be changed.
How To Make Money With NFT?
There are several different ways to make money with NFT. These; It can be listed as producing digital works, NFT copyrights, NFT trading, NFT staking, NFT games. Each method has different advantages. Also, it does not require expertise in NFT and blockchain. Starting to make money with small expectations in the first place will be the beginning of the process for future income.
Creating Digital Artwork
It is one of the preferred methods to make money with NFT. The production of digital works, which are diverse and easier to find, can consist of digital works such as a popular tweet, music recording and painting. Designing colorful and extraordinary pictures and selling them on NFT marketplaces is also one of the ways to make money. The digital artifacts produced can be sold on NFT markets such as Binancei OpenSea and Rarible. A cryptocurrency wallet is needed for this.
Making Money With NFT Copyrights
Another way artists make money with NFT is through royalty revenues. Even after the artists sell their work, they continue to earn income from the sale of the related work. For example, when an artist sells a work for $100 and the buyer sells it for $200, copyright income is earned. Receiving copyright income is at the discretion of the artists.
Making Money With NFT Trading
Trading in a marketplace with buyers, sellers, and artifacts is one of the ways to make money with NFT. The issue to be considered is to determine and implement a good strategy. NFT marketplaces feature hundreds of thousands of vendors, ranging from world-renowned artists, brands, and amateur producers. Each work has a different value.
When it is desired to make money with NFT trading, the work to be invested should be chosen correctly and sold at the right time. For example, a piece of art bought for $100 can be sold for $100,000, but the opposite situation should be considered.
Making Money With NFT Staking
Money can be earned through a method known as staking or staking, which can generate passive income without selling NFTs. In this method, the digital ownership of the NFTs remains with the owner, but their NFT must be locked in a platform. NFT Staking is similar to staking cryptocurrencies. In the NFT staking method, money can be earned through the rewards and advantages offered by the platforms.
Making Money With NFT Games
Many of NFT’s hundreds of game options are free and can be earned as you play. Tokens are earned when the character is developed while continuing to play. Each game has its own token and can be exchanged via cryptocurrency exchanges.
To monetize NFT, the right platform must be chosen. At the same time, it is necessary to introduce NFT. For example, NFT marketing is possible through social media platforms or forum sites. In this way, it is possible to reach a wider audience in a shorter time.
