How to Monetize your NFT Using HelixMeta Platform
Monetizing NFTs is all about putting your investments to work by leveraging the technology and collectibles in the market to increase your wealth and, with the NFT market growing by 18,000% in just 12 months, the opportunities for monetization are expanding all the time. Choosing the right strategy can see you turn art, music, photography, even your own time into money, thanks to NFTs.
You may have heard of the 24-year-old artist who made over $300,000 selling her art as NFTs or Rob Gronkowski selling NFTs of his best Super Bowl moments. With this news hitting social media, it’s no surprise how quickly NFT rose to fame with more people jumping on the bandwagon.
Understanding NFTs is the first step in making money with them. We will give you a quick explanation of NFTs,and show you how to make money with them. Let’s start by explaining exactly what NFTs are.
What are NFTS?
NFTs or non-fungible tokens are pieces of cryptographic tokens that exist on a blockchain. They’re used for real-world items like artwork, music art, and even real estate but in a virtual capacity. Unlike cryptocurrencies, NFTs cannot be traded or exchanged because they are not identical to one another.
Think of baseball cards or a rare coin collection. NFTs create scarcity among assets that are otherwise infinitely available. They are typically used to buy and sell digital items like tweets, artwork, gaming skins, and virtual real estate.
2021 was a year of growth for NFTs, with sales hitting $2.5 billion in the first half of the year.
Everyone is now racing to get their feet in the water to ride this wave. If you’ve been watching from the sidelines not knowing where to start, don’t worry — the boat hasn’t sailed so far yet. Here are 4 ways you can make money with NFTs.
Create and Sell your NFTs
Creating and selling NFTs is the most direct and effective way to make money with them. Yes, you can create and sell anything digital as NFTs, including arts, images, videos, memes, properties, and so on. If you have a creative streak, you can monetize all of your creations by selling them as NFT.
You can create and sell your NFT collection via NFT Marketplaces like HelixMeta etc. for a small fee and increase your income.
Trading NFTs is a smart and simple way to make money quickly and easily. You can buy an NFT collection and profit by selling it at a higher price.Pablo Rodriguez-Fraile, a Miami-based art collector, flipped a Beeple digital art piece almost 1,000 times its initial price in less than 6 months! However, not all NFTs are created equal. Some are worth millions, while some are basically worthless. As a collector,you must keep a close eye on each and every prospect in order to make good money in future resale.
Rent out NFTs
Renting out NFTs is one of the best ways to make money with them. Renting out NFTs can be a good way for NFT creators and collectors to generate passive income. The intriguing aspect is that you can use the NFTs indefinitely without having to create new ones.
You can rent out your NFTs in games or on any other platform where users can borrow NFT cards. You can even rent or lend NFTs to others through platforms like reNFT.
Staking NFTs is yet another proven method of profiting from NFTs. Staking NFTs entails depositing, or "locking away," digital assets in a De-Fi protocol smart contract in order to generate a return.
Staking is the process of storing digital works in the form of a "stake" and assigning them to those willing to maintain their upkeep while providing you with a share of the reward for your NFT. You can stake your NFTs to earn rewards and incentives on various sites.
NFTs, like the digital innovations that gave rise to them, provide creators with new avenues for success. To pursue those avenues, creators must be daring, agile, and willing to adapt to new ideas. The sooner and more thoroughly an artist understands how to monetize their NFTs, the sooner they can enjoy the benefits of this exciting new market.