Methods to make money from NFT (6 Different Methods Explained 2023)
Ways to make money from the Internet are increasing year after year, and the latest of these methods is currently make money from NFT. Non-fungible tokens became one of the most important digital products being sold and profitable at the beginning of this year.
NFT units are one of the most important forms of the digital economy after digital currencies, but the latter requires great technical knowledge to make money from them,
The interest that NFT has gained as a dazzling digital technology has drawn the attention of many people to look for ways to make money from it.
In this article, we will explain in a simple way the 6 most important ways in which you can make money from or get NFT.
Make money from NFT
The ways to earn from NFT vary widely; Some of them require economic experience and thinking like the thinking of great entrepreneurs, on the other hand, there are easy ways that do not contain major technical complications, but are really entertaining ways like playing games to earn NFT units.
It is always preferable to read carefully about any method of make money on the Internet, especially if it is relatively new, as is the case with profit from NFT. With a little focused reading in the field of NFT and a modest computer, you can invest and profit from NFT easily.
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Most of the NFT units are originally works of art such as photos, videos, etc., which makes it easy to sell and profit from, but selling is not the only way to profit from NFT units, and this is what we will explain to you in the next section of the article.
In a previous article, we provided you with all the information you need to know about NFT. We recommend that you review it to understand the ways to profit more clearly.
6 ways to make money from NFT
1. Make money from the transfer of ownership of your NFT unit
Can you imagine making continuous profits from a product you have already sold? This is the case with the NFT. The technology by which you created an NFT unit allows you to specify clauses in its trading agreement that allow its maker to receive a profit every time their unit is sold.
In other words, the NFT unit maker will receive a percentage of the unit's value each time it is sold to a new customer.
For example, the code maker can set the share of the profit of the sale of the code to be 10%, which means that every time it will be sold or transferred from one buyer to another, the owner of the code will receive an estimated 10% of the amount paid.
The profit from the transfer of ownership of an NFT unit is called NFT royalties, and the percentage of profit is usually between 5-10%. This process is done automatically on the markets for buying and selling NFT units, and does not require much intervention from the unit maker itself.
How to establish and determine the percentage of profit from the transfer of ownership of an NFT unit
NFTs unit makers choose the percentage of profit from the transfer of ownership manually during its creation. This is done while converting the content (image or video) into a digital form using the Blockchain technology. The unit maker places the percentage value in a smart contract.
Smart contracts are the programming recorded inside the blockchain, which, once written, automatically converts the profit percentage from the NFT.
Note: As it is clear, the profit from the transfer of ownership of the NFT unit is made after it is sold on one of the platforms specialized in selling these units. We will mention the platforms through which NFT units can be sold, and explain them in detail later in the article.
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2. Mortgage your NFT unit
The decentralized financing protocols that NFTs rely on allow their makers and owners to get a return on them without selling them,
An NFT staking is called an NFT staking, and the word staking here is for simplicity. The mortgaged NFT unit is held by a private platform, and can only be used or sold after the term of the mortgage has expired.
Mortgaging the NFT is done by means of decentralized financing protocols specific to the blockchain technology.
Platforms that provide a return by mortgaging NFT units sometimes give their owners points that contribute to the investment decisions of these units, a situation similar to buying shares and its relationship to corporate management.
The most important platforms through which NFT units can be mortgaged
a) LooksRare platform
LooksRare is a trading platform for NFT units that can also be mortgaged, the platform enables users to trade NFT units no matter where they live in the world.
The definition of the LooksRare platform as written on their site is: LooksRare is the first community marketplace for NFTs that gives rewards for participation… Buy or sell NFTs to earn rewards.
Mortgaging NFT units on LooksRare is very simple, all you have to do is buy an NFT unit on LooksRare, after purchase keep the unit and don't sell it which will generate rewards for you.
These bonuses are collected based on the collection of trading fees generated on the platform and are called $LOOKS. The bonuses are collected based on the trading volume made on the platform during the day, and are paid to NFT unit holders daily.
b) Binance platform
Binance is known as one of the most popular cryptocurrency exchanges, but it offers advantages in the field of NFT as well, as the platform enables you to trade NFT units in addition to trading cryptocurrencies.
Recently, Binance added the ability to pledge and store NFT units on it by staking fan coins. Most Fan Tokens are NFTs related to the field of famous sports teams from a wide variety of sports.
More clearly, Fan Coins serve as a bridge of communication between fans and their favorite team or sports brands, where fans can win tickets to certain events or sports products.
Fan Tokens currently available on the Binance platform are:
$ PORTO (Fc Porto Football Club in Portugal).
$ALPINE (Formula One Racing Team).
$ LAZIO (Lazio Football Club from Italy).
$SANTOS (Football club from São Paulo).
There are a large number of platforms through which you can Buy NFT by mortgaging it, but the platforms we mentioned are the best.
3. Play games to earn NFT units
Don't worry, your eyes didn't deceive you because the NFT units entered the gaming field or vice versa because the situation is confusing. A few months ago, some Play to Win or play to win games started appearing, in which players get paid for doing missions in the game.
Games belonging to this field rely on NFT units as a reward for players, and also allow them to buy and exchange them with their mates. The games that belong to the field of play to win vary between adventure games, role-playing and card exchange.
So far, no game in the field of play and win has managed to attract attention or make a fuss, whether in the field of games or the field of NFT, but there is a wide range of experts in the field of NFT who expect the field of games to be the best investment field for it in the future.
This may be due to the advances in earning and swapping that these games provide for these units.
The most important games that can be earned through NFT:
Axie Infinity is a game based on Ethereum and offers gameplay similar to the games of the popular Pokemon series. In Axie Infinity players breed and collect digital creatures based on NFT units called Axie.
The goal of breeding and collecting Axie creatures is to increase their strength and skill level to enter into fight matches between these creatures and each other, Axie creatures can be sold or exchanged in the NFT marketplaces.
Unfortunately, Axie Infinity is not free, to start the game you need to purchase an initial package that contains three Axie creatures, but it is expected that Axie Infinity will receive several developments this year, including the possibility of free play.
Gods Unchained is a free-to-play game designed to incorporate the NFT unit system into a familiar type of card game.
Players collect cards by buying them from other players or winning them in PvP matches, the quality of the cards and the skill of the players often determining the winning in these matches.
Gods Unchained is a game where the focus is on skills and gameplay strategies a lot, the game pits players with the same ratings against each other which provides a form of fair play but depends on intelligence to win.
Gods Unchained players earn by selling and exchanging playing cards on the game's own store, exchanging and selling results in units that can then be used as a way to earn from NFT.
Gods Unchained is a game that is still in its early stages, and the exact details of how you can earn from it are not yet clear enough.
Splinterlands is one of the first games developed in the field of cryptocurrency based play to win system.
Splinterlands is a trading card game, but the cards themselves are NFT units. When the player progresses in the game by playing with different cards he gets a token reward, which is a currency called DEC which is the in-game currency.
The NFT cards in Splinterlands represent monsters or lands that can be purchased.
The game is based on the Hive protocol for cryptocurrencies, but it can be converted into the token assigned to NFT units, after which these cards can be treated as NFT units, allowing them to be traded in the markets for selling these units.
Pawning NFT tokens in Splinterlands is done by holding the DEC tokens earned while playing the game.
The Sandbox is a metaverse or virtual community, and is one of the most active NFT gaming platforms, where players can build and trade virtual assets in this game.
The game is similar to popular games like Minecraft and Roblox, but it is based on blockchain technology. The game provides the tools to create NFT units and sell them in its own market.
e) Sorare game
Sorare is a fantasy football trading card game based on the Ethereum blockchain. In this game, players collect or buy trading cards to compete in weekly competitions, and have a chance to unlock rare cards or win Ether (the currency of Ethereum).
In late 2021 Sorare had over 200 sports clubs on their platform, some of those names included Real Madrid, Liverpool and Paris Saint-Germain with more being added every week.
The cards are divided into four categories:
Easy to find or Common cards.
Rare or Rare cards.
Very Rare or Super Rare cards.
Unique cards.
Sorare is a free game and players are given a set of random common cards when they complete some setup tasks, however to advance in the leagues and win prizes you will need to buy some rare cards.
4. Make money by converting private holdings into NFT units
Do you own a collection of rare photographs? Excellent You can digitize them and sell them as NFTs, we know the idea is a bit crazy, but it is almost the easiest idea that you can profit from NFTs.
The NBA launched a group of players' cards in the form of NFT, which achieved great success and achieved excellent sales, the idea of selling and exchanging cards was very successful in Western countries, this success opened the way for people around the world to convert their possessions into NFT, whether it be photographs or pictures of collectibles concrete.
5. Make your own NFT module and sell it
The main goal of establishing NFT is to profit from it no matter how some try to mention other goals, and therefore the easiest way to profit from NFT is to make a number of them and sell them on one of the platforms A and their own markets.
The NFT you want to create could be anything like a photo, video, or music. The limits here are just your creative imagination.
It's the same idea as selling paintings at regular galleries, but of course to be able to sell your creations it has to be unique and unique.
There are several platforms through which you can sell NFT units that we will mention in the next section of the article, and you can also profit from the NFT that you made from it through one of the previous methods.
Creating NFTs from scratch or converting graphics or files you own into NFTs can be done across the same platforms.
The most popular platforms where you can create NFT modules
a) Appy Pie NFT Generator platform
The Appy Pie NFT Generator platform is one of the latest platforms that enables you to create your own NFT module, you can create an artistic NFT module (photo or video) without having any technical skills or programming knowledge.
Appy Pie NFT Generator is an easy-to-use, free-to-use platform that offers a wide range of features tailored to meet the broad needs of technical creators to help them create impressive artistic NFT units.
Fotor platform provides an easy tool to create NFT units without the need to possess any technical skills at all, the platform relies on artificial intelligence techniques to help users create their own NFT units within minutes.
Converting an image you own to an NFT on Fotor is just one step, all you have to do is upload your photo to the platform, choose an art style and the platform's NFT maker will do the rest of the process.
NightCafé is one of the most popular platforms on which to create an NFT module. The platform relies on technology powered by artificial intelligence and machine learning to help users easily create, organize, and display their digital artwork on different devices.
You can use NightCafé's unique creation tools to create attractive customer-acquisition NFTs.
One of Hotpot's highlights in the field of creating NFT modules is a tool called AI spark writer. The tool works to inspire artists and content makers with new ideas that might fit into their new art project, good art projects turn into attractive and profitable NFT units.
Sketchar platform offers a tool through which you can convert your artwork into NFT units easily and quickly, the platform provides other services in the field of NFT such as buying and selling, and contains a large number of unique NFT technical units.
The highlight of Skketchar is that it selects the best artists every week and converts their work into NFT modules for free.
The most popular mobile applications with which you can create NFT
GoArt is an app available designed to help Android mobile phone owners to make NFT modules, the app belongs to Fotor, a popular platform for making NFT modules.
GoArt allows you to convert any image you have into an NFT unit, and it also gives you several tools that enable you to change the shape and design of the images to add artistic touches to them.
If you want to try the field of making NFT modules we recommend you to download the GoArt app on your mobile phone, the app is free and easy to use, and it does not require a modern mobile phone or strong technical hardware to function.
NFT Creator is an IOS Store app for iPhone users to help them create NFT modules. The application works on iPad devices as well, and provides several free features for creating distinctive NFT units such as different colors and fonts.
6. Make money from trading NFT units
You can make good profits by trading NFT units. You can buy an NFT unit or group of units and sell it and make a profit. Trading in NFT is similar to trading in stock exchanges and should be done with caution and at certain times.
The time factor is the most important factor to pay attention to when entering the field of NFT trading, the appropriate selling time is subject to a large number of factors, the most important of which are:
The nature of the NFT unit itself whether it is an image or a video.
The potential for buyers to be interested in it.
The general situation for buying and selling NFT units (it is currently booming and has a good demand).
The value factor is also important in the field of trading NFT units, because it is similar to the trade of antiques, there are antiques whose value exceeds other pieces and there are pieces that have no value despite being antique. Big.
The most popular platforms through which you can buy and sell NFT units:
OpenSea is the largest NFT trading market, the platform offers several unique advantages in the field of NFT trading.
Through the OpenSea platform it is possible to buy and sell NFT units and the platform also allows the sale of units purchased from other platforms.
The main advantages of the OpenSea platform:
The platform offers a high level of protection and security for the buying and selling operations that take place on it.
The platform is excellent for NFT beginners as it is easy to handle and use.
It supports various forms of blockchain technology found in many currencies such as Ethereum and Polygon.
It contains a large number of NFT units belonging to different categories such as art, antiques, sports and more.
The platform charges less than most of the other platforms in the NFT field.
The OpenSea platform has an application for trading NFT units on mobile phones, the application works on both Android and IOS smartphone systems.
Rarible is an integrated platform in the field of NFT, bringing together unit makers and buyers to conduct business.
The Rarible platform allows artists to create NFT units for the purpose of selling or holding the same For something for the buyers, the platform contains a wide range of premium NFT units divided into different categories such as Art, Photography and Games.
The most important features of the Rarible platform:
The platform allows you to change the price of the unit you have already created at any time you want for free.
The platform offers a system for bidding on NFT units.
The platform provides an excellent system for earning through the transfer of ownership of NFT units.
The platform allows you to pay using a variety of payment methods such as bank cards and Google Pay.
The platform provides a high degree of security and protection for the NFT units on it.
Platform members can communicate with each other through social media platforms.
Conclusion
Despite some of its complexities, profit from NFT is an excellent field of digital profit and passive income, in my opinion the best way to make money from NFT is to create units and sell them or play to get them because the cost of both methods is lower than the rest of the methods.
In your opinion, which of the methods mentioned in this article is suitable for you? Do you expect the popularity of trading NFT units? Tell us what you think about the ways to earn from NFT in the comments.
Short Link : https://bit.ly/3INlg6Z
Labels: Make money online
posted by Mahmoud Ashour @ April 23, 2022
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