The incredible growth in the NFT (Non-fungible Token) market over the past year has offered up numerous exciting ways for budding investors to make money.
People are paying a lot of money for these unique collectible cryptocurrency assets. The possibility of earning big money is inspiring more people to invest in NFTs in the hopes of cashing in on the current NFT craze.
The digital artist known as Bored Ape Yacht Club (BAYC), sold an NFT monkey image for the huge sum of $429,000 USD.
This beginner’s guide is all you need to know how to make money with NFTs easily and quickly.
What are NFTs?
The ‘Non-fungible Token’ (NFT) meaning is essentially proof of ownership of a unique, one-of-a-kind product – such as an original work of digital art. An NFT will help identify the original artwork and prove that it belongs to you.
What is an NFT Marketplace?
An NFT Marketplace is a platform that makes it simple to store and sell NFTs that are then sold at auction at a set price. There are dozens of platforms that let you sell NFTs across a wide variety of NFT Marketplaces (aka exchanges or blockchains).
If you’re keen to jump in on the NFT craze, it’s easy to learn how to make an NFT. There are many online tutorials to guide you through the steps.
FOLLOW THESE 4 WAYS TO MAKE MONEY WITH NFTs FOR BEGINNERS
- Create and Sell NFTs
The simplest method of making money with NFTs is to create and sell them. As an artist or creator, you can monetize all your creations by selling them as an NFT. You can create and sell anything as an NFT such as digital such as images, videos, art, images, memes, properties, etc.
- Trade NFTs
Trading NFTs is a smart and easy way of making money easily and efficiently, especially if you are a beginner. If you don’t have a knack for creating or designing NFTs, you can take a different route and purchase an NFT collection and make a profit by selling them at higher rates.
- Rent Out NFTs
Renting out NFTs can be a good source of passive income for NFT creators and collectors. The interesting thing is that you can use the NFTs for the long term, without having to create new ones. You can rent out your NFTs in games, or any other platform, that allows users to borrow NFT cards.
- NFT Royalties
Setting up a royalty on your NFTs is a great way to ensure a consistent flow of money. By NFT royalties, you can earn money whenever your NFT changes hands on the secondary market. You can get continuous income even after selling your creations to
Do you still need help understanding NFTs? Contact Haarty Hanks to help you navigate this new realm of digital creation. Our team of tech experts can guide you through the process.