How to Make Money in 2022 Staking NFTs on the PoSDuck Platform!
When it comes to NFTs the community’s majority for the most part think of digital art or collections and, of course, of a tool for speculation or gaining value over time.
This is indeed true for most NFT projects. Yet as the market grows, new fascinating use cases are put forth by artists, collectors, and devs. One of such increasingly promising use cases is staking — locking NFTs up in pools paying interest on specialized platforms.
Let’s find out how staking works, what reward types there are for NFT owners, and how to pick a staking platform that suits your needs best.
Staking is an income-generating token lockup oftentimes implemented on crypto platforms or in swap protocols. Staking can also yield miscellaneous product-specific benefits. NFT staking enables the owners to earn rewards without having to part ways with their fave NFTs.
NFT are indivisible smart contracts of the ERC-721 token standard most often minted on the Ethereum blockchain. This standard ensures the uniqueness of a token. Such tokens are immutably recorded on a blockchain and can be used as proof of ownership, authenticity, and origin of any physical or digital object including art, avatars, videos, GIFs, collectibles, in-game assets, and much more.
In 2022, the most staking opportunities so far have been created by P2E games and metaverses. Certain games offer their users to buy in-game characters and upgrade them to earn rewards. Some, besides character and land plot purchases, require you to complete various quests. A majority of the platforms employ native tokens to reward their users.
Still, more state-of-the-art, highly advanced platforms hit the market. They provide the crypto community with fresh takes on how to put NFT collections to use. Such platforms offer different kinds of staking pools featuring various reward rates and staking periods.
Yup, the PoSDuck platform offers its users two staking pool types:
- Limited
- Unlimited
The Unlimited Staking pool, as its name implies, has no time limits. You can also withdraw your NFT and claim your rewards at any point along the way to then sell it on a third-party marketplace.
The Limited Staking pool, on the other hand, is time-limited and the staked NFT is burned at the end. This might sound scary, yet the staking rewards are much higher than the NFT’s initial price, which offsets its ultimate permanent lockup.
The users get their rewards in BNB or MATIC staking rewards. This allows for much lower investor risks, as many platforms and P2E games fail to keep their users’ interest due to their projects’ tokens’ severe and inevitable devaluation over time.
A special Boost System was devised for the PoSDuck platform to attract new audiences and increase profitability for its active users. Having taken all the necessary steps to join the platform’s AirDrop, you’ll be able to get its PDT tokens that you can later use to purchase the Boosts.
There are several Boost types on the PoSDuck platform. Their primary purpose is to increase the interest the users get on their NFTs or extend the Limited pools’ staking period for a certain amount of time. The other Boost type can be obtained through teamwork. You can also join an existing team or get some from other people.
Only DuckNFTs can be staked on the platform. You can buy this collection’s NFTs either on the platform itself or on third-party marketplaces.
NFT staking is a great way to graduate your NFTs from lying passively to generating additional passive income. It’s also an exceptional opportunity to become an owner of NFTs that are ready to work for you. And though the setup is just gaining traction, it’s most likely going to encourage the emergence of brand new staking opportunities.
