How to make money on NFTs in 2022

5 ways to make money on NFTs

Because of the expansion of the NFT business, there are a variety of ways to earn from NFTs, whether actively or passively.

1. Minting Your Own NFTs

Minting your own NFTs is the most popular strategy for individuals who are looking for the way to make money on NFTs. The progress of putting a digital asset (such as digital art or music) on the blockchain is known as minting. After the asset is minted on the blockchain, it would be traded on NFT exchanges, allowing you to profit from your work.

2. Be an early investor

Investing in potential new collections early, before they soar in value, is one of the best ways to make money on an NFT. Many of the greatest NFTs to buy were initially released at a low price, but their value skyrocketed in the weeks and months following their release.

3. NFT HODLing

When looking for ways to generate money with an NFT, one of the finest tactics is to invest and ‘HODL.’ In the context of buying and holding Bitcoin and other cryptocurrencies, HODL is a phrase created from a misspelling of “hold.” Among crypto investors, it’s also come to mean “hold on dear life.”

4. Flipping NFTs

Flipping your NFTs, on the other hand, contrasts with holding NFTs. Flipping is a financial term that means buying low and selling high, which similar to trading.

5. Play-to-Earn (P2E) NFT Games

Last but not least, Play-to-Earn NFT games are a method to help you earn money on NFTs. Many of the best NFT games now employ P2E features, which allow players to generate rewards through skilled gameplay. These rewards are usually denominated in the platform’s native token — meaning they can be spent on in-game items or exchanged for FIAT.

Where to buy NFTs

Now that you have a thorough grasp of how to profitably acquire and sell NFTs, let’s look at the investment process itself. If you’re wanting to invest in fresh NFT projects for flipping or just want to buy an NFT and HODL, finding a safe and trustworthy marketplace is critical.

Subscribe for the latest updates of Elemint

Website | Twitter | Discord | Telegram

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Elemint

Elemint

14 Followers

Elemint is an NFT marketplace to empower the creator economy with real-world utilities