How to Make Money From Your NFTs
Published in
2 min readApr 10, 2021
Making money is a top benefit for owning an NFT
Non Fungible Tokens (NFTS) allow you to earn money from them because you own it. Similar to how you can make money from a guitar you own on eBay because you own it. NFTs are digital goods that you own, which means you can do with them as you like! One of those things is to earn money from them.
Here’s how you can earn money from your NFT:
- Sell it on a marketplace for a profit! To do this, you will need to speculate that your NFT will be worth something to someone in the future. You can do this by understanding what that NFT represents. If it’s artwork, ask yourself, is it a relevant topic that someone would want to buy in the future? There needs to be sufficient future demand for you to sell it for a profit in the future. Opensea.io is an Ethereum wallet marketplace and here is a WAX wallet marketplace. For information on the different blockchain wallets, check out this article.
- Play to earn! Some projects offer ways for you to play games with your NFTs. Many of these projects let you earn crypto in rewards for having winning strategies for those games. Look for breeding games
- Find NFTs that give you access to the a revenue share to the company who mints the NFT. The key to these NFTs is to HODL (meaning hold in crypto-talk). You do not want to flip these for a profit right away. If you do want to flip these NFTs, buy more than one. Then, wait to see how high the payouts are and then list on the market with the price that’s inline with future revenue earned from HODLing the NFT.
- Buy into NFTs that airdrop cryptocurrencies or more NFTs to you. Those can then be flipped on the open market for extra money!
- Mint your own! You can make your own and resell them to a community you have started. Maybe that community is your family and you only charge them $1. Maybe that community is a group you’ve started on Facebook. Here’s the best place to mint your own NFT.
