If you’re looking to access the potential of your NFTs, you’re in the right place. We initially saw the NFT hype reach its peak in 2021, but it looks like we’re gearing up for another push as 2024 is reaching its end.
In 2024, the top NFT staking platforms offer innovative ways to earn passive income, leveraging community engagement and diverse staking options.
But, traversing this new landscape isn’t straightforward. NFT staking as a common concept is still fairly new and choosing the right platform can make all the difference. We’ll pick the best NFT staking platforms of 2024, and this will help you discover which options can help you maximize your digital asset’s potential.
Quick list of 10 best NFT staking platforms in 2024:
Binance NFT: Offers staking for top NFTs like BAYC with rewards in ApeCoin and $SAND, plus bonuses and event access.
NFTX: Decentralized staking for blue-chip NFTs with high APRs and fractionalized vault options for liquidity.
Doge Capital: Stakers earn daily $DAWG tokens on Doge NFTs, with additional rewards for long-term holders.
BAND NFTs: Music NFT staking with governance tokens and royalties, ideal for music fans with flexible terms.
NFTCOLO: Investment market with competitive staking rewards, governance participation, and exclusive benefits.
Aavegotchi: Polygon-based platform blending gaming and staking, where stakers earn GLTR tokens.
LooksRare: Decentralized marketplace with LOOKS and wETH rewards, plus incentives for active trading and staking.
Rarible: Multi-chain marketplace offering rewards for locking NFTs in a liquidity pool.
Zed Run: Digital horse racing game where users can stake virtual racehorses for $ZED tokens.
Illuvium: RPG game where collectible NFTs earn $ILV tokens through staking, combining gaming with rewards.
How NFT staking works
Let’s first understand the mechanics of NFT staking. It involves locking up your non-fungible tokens for a predetermined duration on an NFT staking platform to earn rewards, typically paid in cryptocurrency or exclusive project benefits.
To participate in NFT staking, you need to choose an NFT staking platform that supports the type of NFT you own. These platforms use smart contracts on blockchain networks to guarantee the security and proper distribution of rewards during the staking period.
Your earnings are determined by the type and rarity of your NFTs, with varying reward structures influenced by specific project mechanics and token economies. On most platforms, you can choose between flexible staking durations, opting for long-term commitments for potentially higher earnings, or shorter terms for quicker returns.
Monitoring the market performance of your NFTs is critical, as this is the area of crypto that’s arguably most susceptible to hype and market sentiment. This will help you maximize the potential benefits of NFT staking.
Best NFT staking platforms of 2024
Okay, without further ado, these are currently the best NFT staking platforms of 2024. There are options, so you’ll likely find something that’s perfect for you.
1. Binance NFT - Stake the top NFTs and earn rewards
Binance NFT offers you a variety of NFT staking opportunities tailored for different NFT collections. You can earn rewards in the form of platform-specific tokens.
As the largest crypto exchange, Binance provides a secure and user-friendly interface to facilitate smooth staking transactions and management of NFT assets.
By staking your NFTs on Binance NFT, you can potentially yield pretty good returns, as rewards typically vary based on the NFT collection and duration of the staking period.
You can stake popular NFTs like Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) to earn rewards in ApeCoin (APE) and $SAND from Sandbox NFTs. With over 200 million users as of June 2024, Binance provides a secure environment and various staking options, which makes it one of the most reliable platforms in the NFT space.
You can easily track your staking performance and rewards through Binance’s integrated system.
Also, Binance NFT includes additional incentives for stakers, such as exclusive NFT drops or access to special events, fostering community engagement.
In addition to staking rewards, Binance also allows you to get a loan on your staked assets, using the NFTs you stake as collateral. To be clear, this can be risky since NFTs tend to fluctuate in price quickly and dramatically. Still, it’s always nice to have additional options.
With its strong security measures and transparent system, Binance NFT is a reliable platform for NFT staking, and when it comes to NFTs, reliability is particularly important.
Visit Binance NFT
2. NFTX - Decentralized staking for blue-chip NFTs
NFTX is the next one on our list, offering users a versatile and lucrative way to generate passive income through their digital assets.
NFTX is a decentralized platform that allows users to stake their NFTs for liquidity and inventory rewards. It features a user-friendly interface where users can stake NFTs without requiring ETH for inventory staking, which yields approximately 20%.
For liquidity staking, users can earn up to 80% APR. The platform also offers auto-compounding features, which further boosts the earning potential for stakers.
As an NFT holder, you can leverage NFTX's platform to stake a variety of popular NFT collections.
NFTX supports NFT vaults, which are structured to facilitate liquidity by allowing users to trade fractionalized representations of their staked NFTs. This feature encourages long-term holding of NFTs and potentially increases user returns over time.
Staking rewards on NFTX are typically distributed on a weekly basis, so you get a consistent stream of income for holding NFTs. It’s not necessarily as reliable as Binance NFT, but unlike Binance, which has NFT staking as one of the many features, NFTX’s main focus is NFT staking.
Visit NFTX
3. Doge Capital - Perfect for Doge NFT stakers
Just saying “Doge Capital” is a little bit funny when you think about it.
But leaving that aside, Doge Capital lets you lock NFTs for specified durations, and you can earn substantial rewards tied to transaction fees accrued within the platform, typically distributed on a weekly basis.
To maximize returns on Doge Capital, you should conduct thorough research when selecting NFTs for staking. Focusing on projects with strong community backing and development teams. The platform encourages long-term holdings by offering unique incentives and benefits to NFT holders.
Doge Capital offers a user-friendly interface where you can stake by adding your Web3 wallet to the platform. For every Doge NFT staked, you earn 5 $DAWG (a bit less than $0,01) tokens per day, with additional bonus levels to earn extra $DAWG. Lovely.
You can stake up to 100 Doge NFTs per wallet, and your $DAWG rewards will be automatically withdrawn if you unstake your NFTs.
Visit Doge Capital
4. BAND NFTs - Stake music NFTs
BAND NFTs is a music NFT staking platform that allows stakers to earn governance tokens and royalties based on their staked BAND NFTs. This means that you get access to music royalty pools, instead of getting fixed rewards.
With flexible staking periods ranging from 90 days to 5 years, this platform caters specifically to music enthusiasts who are looking to engage with digital collectibles while earning rewards. Generally speaking, the longer you stake, the better chance you have of receiving governance tokens.
We should note that this is still a new platform that’s not yet well established. While the idea is pretty cool in its own right, there aren’t that many music NFTs available on the platform. However, if it should continue to grow, getting a bigger music collection with more popular songs, the potential for earnings will also increase.
Visit BAND NFTs
5. NFTCOLO - Competitive staking rewards
NFTCOLO supports a variety of renowned NFT collections, so you have diverse options for investing and earning passive income through staking. It’s a premier investment market dedicated to NFTs, offering a platform where users can stake their digital assets to generate passive income.
NFT COLO aims to enhance the liquidity and utility of NFTs in order to make them more attractive to potential buyers and sellers. By staking their NFTs, users can also participate in governance decisions regarding the platform's future developments.
Competitive staking rewards are also a significant draw, as NFTCOLO incentivizes longer lock-in periods by offering higher returns for staked NFTs, which makes it appealing to long-term holders.
Also, staking on NFTCOLO allows you to earn unique rewards such as access to exclusive drops and discounts.
Visit NFTCOLO
6. Aavegotchi - Polygon-based platform blending gaming and DeFi
Aavegotchi is a very interesting NFT staking platform, providing users with a unique opportunity to stake their Aavegotchi NFTs and earn rewards.
What makes it interesting is that it’s a unique blend of gaming and DeFi that allows users to stake their digital collectibles known as Aavegotchis. These NFTs are backed by real crypto assets and can be staked to earn GAX Liquidity Token Rewards (GLTR).
Stakers can utilize GLTR for various in-game activities, such as crafting and upgrading installations within the Aavegotchi ecosystem. The platform operates on the Polygon network, so you can enjoy fast transactions and low fees.
Aavegotchi encourages community engagement through its guild features and allows players to earn rewards while enhancing their gaming experience. The staking mechanism incentivizes holding and fosters a vibrant community around the game.
You can use the rarity and traits of your Aavegotchis to boost your staking potential. The staking mechanism incorporates a unique bonding curve model, which makes sure that the value of staked Aavegotchis is dynamically linked to their rarity and community engagement.
You can earn GHST tokens by staking your Aavegotchis, which in turn increases your governance power within the platform.
Also, Aavegotchi’s platform supports liquidity pools, so NFT holders can contribute their tokens to earn additional yield alongside their staking rewards.
Visit Aavegotchi
7. LooksRare - Stake NFTs and earn wETH rewards
LooksRare is a decentralized NFT marketplace where you can stake its native token, LOOKS, for rewards. You can choose between active and passive staking options. Active staking gives you immediate access to staked tokens while earning both LOOKS and wETH as rewards, whereas passive staking locks tokens for exclusive wETH rewards.
The platform also incentivizes trading by rewarding users who list NFTs for sale with LOOKS tokens based on trading volume.
LooksRare aims to distinguish itself from competitors like OpenSea by returning 100% of its transaction fees as rewards to stakers, promoting user loyalty and engagement.
Also, LooksRare’s unique reward multiplier system boosts incentives for users who actively trade and stake on the platform, so they want you to be actively engaged on their platform.
Visit LooksRare
8. Rarible - NFT staking platform with multi-chain support
Rarible is one of the first community-owned NFT marketplaces that leverages blockchain technology to facilitate buying, selling, and minting of NFTs. It operates on the Ethereum blockchain and utilizes its governance token, RARI. Still, it does support multiple chains, which makes it more accessible and increases usability across different ecosystems.
Their NFT staking platform lets you earn rewards by locking your NFTs in Rarible’s liquidity pool. When you stake your NFTs, you can earn additional tokens or project-specific bonuses, with rewards varying based on the NFT’s rarity and, of course, market demand.
The platform supports various popular NFT collections, so it’s a versatile option for holders, while their staking mechanisms incentivize long-term holding by rewarding users for locking their NFTs.
Visit Rarible
9. Zed Run - Stake virtual horses and earn $ZED
ZedRun is an innovative digital horse racing game where you can buy, breed, race, and stake virtual horses represented as NFTs. When you stake your racehorses, you earn $ZED tokens as rewards while participating in races within the game's ecosystem.
ZedRun combines elements of gaming with financial incentives, allowing players to enjoy competitive racing while monetizing their digital assets through staking mechanisms. The platform has hit the trifecta for its combination of classic sports (horse racing), betting, and integrating blockchain technology into traditional gaming concepts.
Zed Run is leveraging blockchain technology to revolutionize the digital collectibles landscape, offering a unique gaming experience where you can stake virtual racehorses and earn rewards in the form of the platform’s native tokens.
Visit ZedRun
10. Illuvium - Open-world RPG with $ILV rewards
Illuvium is an open-world RPG that features collectible creatures called Illuvials represented as NFTs. Players can stake these Illuvials to earn rewards in the form of $ILV tokens while exploring the game's expansive universe filled with quests and battles.
There was a time when $ILV was priced at over $1900, and currently, it’s at around $38, so it might not be a bad time to get your hands on some $ILV tokens. The game is also available on Epic Store, so it’s looking like it’s here to stay. This popularity earned it a spot on our list of the best play-to-earn crypto games.
The game incorporates elements of DeFi as it allows players to earn passive income through staking while enjoying the gameplay. Illuvium aims to create a rich gaming experience combined with financial opportunities, and their goal is to attract both gamers and investors interested in crypto.
Illuvium’s focus on integrating gaming with NFT staking makes it a great option for gamers who want to earn passive income through their digital collectibles.
The platform guarantees a safe staking environment through strong security measures, including smart contract audits, while delivering competitive APYs for participants.
Visit Illuvium
Pros and Cons of NFT Staking
Yes, NFT staking can be very lucrative and convenient under the right circumstances. NFTs tend to be extremely volatile, even for crypto standards, and in a bull run, this can work to your advantage. Add some passive income from staking on top of that, and you’re golden. Potentially.
However, there are considerable risks you need to keep in mind. Market volatility can affect NFT values, which can lead to potential losses. Theft or scams can cause you to lose your NFTs, and long lock-in periods may limit your immediate liquidity options.
Also, not all NFTs are eligible for staking, so you need to do thorough research and select projects with strong development backing to maximize potential returns.
NFT staking trends to watch in 2024 and 2025
As NFT staking continues to evolve, several trends are shaping the space at the end of 2024 and moving on to 2025. Most of these aim to offer more options and creative incentives for holders. Let’s take a look at some of the key ones:
Increased Gamification: Platforms are integrating gaming elements into staking, which lets users earn more rewards by actively participating in ecosystem-related games or quests. This trend is particularly popular with projects like Illuvium and Aavegotchi, where gameplay activities enhance staking returns.
Multi-Chain and Cross-Chain Compatibility: More platforms are embracing multi-chain support, so you can stake NFTs from various blockchains, such as Ethereum, Polygon, and Solana.
Dynamic and Tiered Reward Structures: Platforms are experimenting with tiered staking models. This means you get higher yields or bonuses for rare NFTs or those staked over longer periods. Also, “dynamic staking” rewards may adjust based on market demand, NFT rarity, or community engagement.
Fractionalized NFT Staking: With fractionalized NFT ownership growing in popularity, platforms like NFTX are allowing users to stake fractionalized NFTs as a way to stake for holders who own a part of high-value assets instead of the whole thing.
Community Engagement: Many staking platforms are very focused on community incentives. They offer access to exclusive events, governance voting rights, or VIP experiences for active stakers. This trend strengthens user loyalty and makes it more fun and enjoyable to be a part of the community in question.
Tips for Safely Staking NFTs
To minimize risks when staking NFTs, keep the following safety tips in mind:
Research Platforms Thoroughly: Choose platforms that have undergone smart contract audits and are transparent about their security measures. Platforms with a history of good performance, reputable audits, and clear communication with users are generally more reliable.
Stay Informed on Market Movements: NFT values can be highly volatile, typically influenced by market sentiment or hype. Keep an eye on trends and market conditions, especially if you’re staking high-value assets.
Diversify and Choose Reliable Projects: Avoid staking all your NFTs on a single platform or project. Diversify across different staking options and prioritize projects backed by reputable teams or strong community support.
Use Secure Wallets: Always use secure wallets for staking, as these add an extra layer of protection. Enable additional security features such as two-factor authentication (2FA) wherever possible.
Understand Lock-Up Periods: Be aware of any lock-up durations, which can limit your access to staked assets. If immediate liquidity is important to you, opt for platforms with shorter lock-up periods or flexible staking options.
Don’t Stake NFTs You Wouldn’t Own Otherwise: Simply put, if you are considering buying an NFT just for the staking rewards, but you wouldn’t buy it if it wasn’t for the staking option, you may want to reconsider. High APY can be tempting, but you may end up holding a useless underlying asset.
The bottom line
In 2024, NFT staking is still somewhat uncommon, but there are diverse staking options with attractive rewards. Some of the best NFT staking platforms can be found on our list, but it doesn’t mean you have to rush to stake on all of them.
Consider the pros and cons of NFT staking, including potential rewards and lock-up periods, to make sure you make the right decision. Some platforms support a wide range of popular NFT collections, while others offer promotional events for enhanced staking rates.
Evaluate these options carefully when considering which NFT staking platform is right for you.
To safely store your NFTs, consider checking out our list of the best hardware wallets for NFTs in 2024.
