Non-Fungible Tokens took the blockchain industry by storm in 2020 and have become a major trend. An NFT, like a piece of art, can be owned and sold for cryptocurrency or fiat. But there are more ways to make money with NFTs.

1. Flip NFTs

You can Flip NFTs to earn money. NFT flipping involves the process of minting NFTs at a considerably low price and selling them at a higher price. Although it is associated with risks, it is one way to expand your investment portfolio.

2. Trade NFTs

You can also make money from NFTs by trading them. Some entrepreneurs and investors treat NFTs like stocks, purchasing and selling them to make money. So, you can profitably invest in NFTs by purchasing and selling them. However, you must understand that while some are worth millions of dollars, others are nearly worthless. Before deciding to trade an NFT, you must critically examine it for the possibility of profiting from a future resale.

3. NFT Gaming

You can make money from NFTs with Play-2-Earn games. These games allow you to earn Non-fungible tokens just for playing or completing certain tasks. Rather than being a currency, this takes the form of a collectable in-game item that you can potentially sell to someone else. If the P2E game is popular, the NFTs associated with it could be valuable and you might just rake in fortunes from selling it.

4. NFT Staking

NFT Staking is a relatively stable way to make money with your NFTs. It simply means depositing, or “locking away,” your non-fungible tokens into a DeFi protocol smart contract to create a yield. This is one of the many advantages of decentralized finance. BinanceNFT Marketplace, Kira Network, NFTX, Only1, and Splinterlands are some platforms that promote NFT staking.

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