Top 10 Best NFT Business Ideas - 2022
NFT is one of the growing technology, In a few more years NFT businesses will touch the sky. This is the right time to enter into the NFT business, Here we have explained some NFT business ideas of 2022 and how to start an NFT business structure. This blog helps you to create your business model plan.
Since the first assets backed by non-fungible tokens (NFTs) came out, the hype of these digital tokens has been in existence until late 2021, when all of it became an explosion, and suddenly, NFTs were everywhere. Although the current version of NFTs may attract some amount of scepticism, most of it will be put off once the true potential of those virtual tokens shows up. In this blog, we will see some of those (precisely 10) NFT business ideas that result in the betterment of the crypto world while earning profits for the entrepreneurs.
Here Are Some Top 10 NFT Business Ideas Right Now
An NFT marketplace is a platform where users can create and trade NFT-based products. These portals can either sell generic NFT items or niche-based NFT items. The current NFT boom has helped in the growth of the marketplace as an NFT business idea, and it would be relevant forever irrespective of the situation. Major NFT marketplaces include OpenSea, Rarible, SuperRare, Axie Infinity, Sorare, and Solsea. More than 50 NFT marketplace platforms are currently selling various kinds of NFT assets. A seamless user interface, along with quality products and enhanced security features, is some necessary features of a marketplace as an NFT business. This is the most profitable business in the NFT Business Sectors.
An NFT staking platform is where users lock their NFTs for a certain time in return for rewards. The staked NFTs can ensure that liquidity exists in the world of NFTs. These platforms utilize the proof-of-stake (POS) principle for the staking process, thus cutting energy costs, unlike the energy-intensive proof-of-work (POW) concept. Currently, most NFT staking businesses are a part of play-to-earn blockchain games such as Axie Infinity, The Sandbox, and Splinterlands. This is because most of the NFT business market is dedicated to in-game assets apart from digital artworks.
3. NFT Launchpad Business
An NFT launchpad business is where NFTs can be minted, marketed, and launched efficiently. Such an NFT business idea based on a launchpad supports small-time creators who would not have enough capital to launch and promote their NFT assets independently. The NFT launchpad business can benefit from the sheer volume of creators willing to join the NFT space and the genuine support provided by the NFT enthusiasts. Some of the major NFT launchpad portals include NFT pad, NFTLaunch, and NFTb. NFT launchpads can also work with fundraising models such as initial coin offering (ICO), initial exchange offering (IEO), and initial NFT offering.
4. NFT Game Business
An NFT business based on games or Game-Fi is where a game runs with in-game assets in the form of NFTs, which can be traded. These games are based on the play-to-earn model, where players can instantaneously earn while playing the game. Games such as Axie Infinity, Sorare, Gods Unchained, and The Sandbox function based on this model. In-game assets have opened a big business avenue in the NFT world as gamers are actively adapting to the concept of blockchain-based gaming. An NFT business idea based on a game will probably be the best idea if you are someone who wants to establish your place in the NFT world in the long run.
A physical asset NFT business is where physical assets backed by NFTs can be traded easily. Here, NFTs act to prove ownership and authenticity of the physical assets. Items that can be sold as physical assets NFTs can be anything, although physical artworks are the most common. The sale of plots of land as NFTs has been under exploration. Still, the regulations under which the real estate sector is bound make it tough to integrate NFTs, which could be a revolutionary move if implemented. Generally speaking, since NFTs have not been well understood, tying physical assets to NFTs can be a monumental challenge, and there are only a few NFT businesses have taken up the hard path. This is the most valuable business idea and you will get some good profit from it.
An NFT business based on lands in the metaverse is a recent domain, where users can buy virtual plots of land on the metaverse platform. Metaverse games such as Decentraland and The Sandbox have already earned huge margins in selling such lands since celebrities stormed the NFT space. NFT businesses have ventured into the unexplored NFT real estate sector, wherein someone can purchase virtual lands in their possession in the metaverse environment. Such ventures are still largely unregulated and ill-defined, and a business owner should be ready to pave the path and adjust to legal requirements as they arise.
7. NFT Marketing Business
The field of NFT marketing has been undisputedly flowing freely in the age of NFTs as new NFT creators and societies are coming up every day. An NFT business based on marketing these products employs various tried and tested strategies, including direct and indirect community interaction tactics. Both traditional digital marketing strategies and newer tactics developed just for the crypto community are utilized to a great extent to reach people. NFTs are here to stay, and an NFT business idea based on marketing would only succeed easily.
8. Whitelabel NFT Business
A Whitelabel NFT business is where a venture creates, markets, and derives the roadmap for NFTs for another client business. This comes under the business-to-business (B2B) venture. Here, an end-to-end solution for an NFT collection (such as pixelated art or comic universe) is developed by a company and used by its client. Even though the business concept is similar to building Whitelabel platforms such as for NFT marketplaces, the outputs are entirely different this time. The idea can prove beneficial for ventures with interesting content and are planning to venture into the NFT space.
9. NFT Token Business
An NFT business based on tokens develops non-fungible tokens of various kinds. Such created tokens can range from native cryptocurrency tokens to anything converted into non-fungible tokens. Although creating NFT tokens is easy with the NFT marketplaces incorporating minting tools, creating in-portal native tokens for launchpads, games, and even some marketplaces is a whole different task. A business concentrating on developing NFT tokens would be busy anytime as someone or the other is delving into the world of NFTs.
10. NFT Loan Business
With decentralized finance (DeFi) applications springing up in popularity, some ventures have collaborated NFTs with specific DeFi applications such as loaning. An NFT business based on loaning (lending/borrowing) basically functions like a traditional loan, but the collateral would be NFTs instead of physical assets to borrow cryptocurrency. This concept can serve well for speculators as waiting for a long time would not be feasible in the long run. Also, with cryptocurrencies increasingly being adopted worldwide, using speculated NFTs as collateral might prove to be a life-saving option in the future. Such businesses have a great future as the world transitions towards DeFi systems.
A Note in Hindsight
The NFT business ideas mentioned above are some of the top ideations that would work in the long run. Although regulations related to NFTs have not been still laid well, the future holds hope, and these businesses can adapt to any legal changes easily. Thus, it is a wise option to include your venture in the NFT sphere with these great business suggestions.