Everyone, including mega-celebrities, and some of the biggest companies in the world, such as Disney, and Nike, has gotten in on the NFT craze. While some NFTs are worth millions, some are worthless. So how would you make some money from NFTs? Here is a simple guide on how to make money off NFTs.
Make Digital Art NFTs
When it comes to profitability, digital art makes up the most profitable NFTs to date. This is one of the best ways to make money off NFTs. The most valuable NFT to date is a piece of digital art created by Beeple that is worth over $69 million.
While there have been concerns that buying digital art is essentially buying a link to a picture, which could be abused for nefarious activities, it has proven profitable thus far. While it is unlikely you will be making millions from your NFT artwork, you could commission some art or make it yourself, and sell it as an NFT on a platform such as OpenSea.
Trade in NFT Video Game Items
Some experts believe that NFT-based games could be the future of the gaming world. However, others are cautious, and they believe there is still a long way to go before NFTs become the go-to in-game items.
For now, there are a few NFT-based games you can join, and participate in buying and selling NFT in-game items. One of the best examples of this is the Axie Infinity game.
Trade in NFT Collectibles
Some of the biggest brands in the world have launched NFT collectibles, which can be traded on secondary marketplaces. This trend does not appear to be going anywhere soon.
To participate, simply visit the relevant marketplaces where these collectibles are sold. Alternatively, you can keep up with the news on the NFT world to find out when the next NFT airdrop by a major company is going to be.
One of the most popular types of licensed NFT collectibles is sports cards.
You can begin buying licensed NFT sports cards, holding onto them, and selling them for a profit. This sector is still young and presents huge potential. If you get in now, you could get lucky and make some respectable profits.
While sports cards are the best example, any physical collectible can be converted into an NFT. If you own some old records at home, you can also consider converting them into NFTs and selling them.
The main advantage of selling digital NFTs is that while physical collectibles can easily get damaged, digital NFTs are securely stored on the blockchain.
The Future of NFTs – How To Make Money Off NFTs Quick
While no one is sure of the future of NFTs, it is highly unlikely that it is just a fad. One reason for this is that there is still a lot of room for innovation.
While the first NFTs had little to no use cases, the next generation of NFTs could have use cases as in-game items in metaverse games, and more. The growing creativity in the design and issuance of use cases means they have a bright future ahead of them.
