NFT units are one of the most critical forms of the digital economy after digital currencies, but the latter requires a great deal of technical knowledge to benefit from them،
The attention that NFT has received as a dazzling digital technology has attracted the attention of many people looking for ways to profit from it. In this article, we explain in a simplified form the six most important ways you can benefit from or obtain NFT.
The ways to earn NFT are very diverse; some need economic experience and thinking similar to that of prominent entrepreneurs. On the other hand, easy ways do not contain significant technical complexities but are entertaining, such as playing games to earn NFT units.
It is always best to read carefully any way to earn money on the internet, especially if it is relatively new, as with profit from NFT. With a little focused reading in the NFT field and a modest computer, you can easily invest and profit from NFT.
Most NFT units are initially works of art such as photos, videos, etc., which makes it easy to sell and profit from them, but selling is not the only way to benefit from NFT units, and that is what we will explain in the next section of the article.
In a previous article, we gave you all the information you need to know about NFT. We recommend you check it out to understand how to make money more clearly.
Top 5 Ways To Profit From NFT
1. Take Advantage Of The Transfer Of Ownership Of Your Nft Unit
Imagine making ongoing profits from a product you've already sold - that's the case with NFT. The technology by which you created the NFT unit allows you to specify clauses in its commercial agreement that would enable its manufacturer to receive a percentage of profit each time its unit is sold.
In other words, the NFT unit manufacturer will receive a percentage of the unit's value each time it is sold to a new customer.
For example, the creator of the code may set the percentage profit from the sale of the code to 10%. This means that each time the sale or transfer of ownership from one buyer to another, the code owner will receive approximately 10% of the amount paid.
The profit from the transfer of ownership of the NFT unit is called NFT royalties, and the profit percentage usually varies from 5 to 10%. This process is automated in the NFT unit buying and selling markets and does not require much intervention from the unit manufacturer.
How is the percentage profit from the transfer of ownership of an NFT unit established and determined?
NFT unit manufacturers manually choose the percentage of profit from the transfer of ownership when creating it. This is done using blockchain technology to convert content (image or video) into digital form. The unit manufacturer places the value of the ratio into a smart contract or so-called smart contract.
Smart contracts are the programming stored in the blockchain, which, once written, the NFT profit percentage is automatically transferred.
Note: as it is clear that the profit from the transfer of ownership of an NFT Unit is realized after its sale on one of the platforms specializing in the sale of these units, we will mention the platforms through which NFT Units can be sold, and explain them in detail later in the article.
2. Mortgaging Your Nft Unit
The decentralized financing protocols on which NFT units rely allow their manufacturers and owners to make a return without selling،
The mortgage of the NFT unit is called NFT staking, the word mortgage here is for simplification. The mortgaged NFT unit is reserved by a unique platform and can only be used or sold after the mortgage term expires.
Decentralized financing protocols for blockchain technology realize the NFT mortgage, in this process the unit is reserved, and its circulation is prevented for a period in exchange for a material return to its owners, the process is similar to the investment certificates provided by banks.
Platforms that provide a return by mortgaging NFT units sometimes give their owners points that contribute to the investment decisions of those units, a situation similar to the purchase of shares and their relationship to corporate governance.
The most critical platforms through which NFT units can be mortgaged
LooksRare is a trading platform for NFT units and through which they can also be mortgaged, the platform allows users to trade NFT units regardless of where they live in the world.
The definition of the LooksRare platform as written on its website is as follows: LooksRare is the first community marketplace for NFT units that rewards participation... buy or sell NFT units to earn rewards.
Pawning NFT units on the LooksRare platform is very simple, just buy an NFT unit on the forum, after purchase, keep the unit and don't sell it, this will generate rewards for you.
These bonuses are collected based on the trading fees generated on the platform and are called LOOKS 1. Prizes are organized based on the volume of trades made on the podium during the day and are paid out daily to NFT unit owners.
Binance PlatformThe Binance platform is one of the most popular cryptocurrency trading platforms. Still, it also offers functionality in the NFT area, as the platform allows you to trade NFT units in addition to digital currency trading.
Recently, the Binance platform added the ability to pledge and store NFT units by committing fan coins to it. Most fan coins or fan tokens are NFT units related to the domain of favorite sports teams belonging to a large number of sports.
More clearly, fan coins serve as a communication bridge between fans and their favourite team or sports brands, where fans can win tickets to specific events or sports products.
The fan tokens currently available on the Binance platform are:
- PORTO PORTO (Fc Porto football club in Portugal).
- ALPINE ALPINE (a unique Formula One motor racing team).
- LAZ LAZIO (Lazio football club in Italy).
- SANTOS SANTOS (Sao Paulo football club).
There are a lot of platforms where you can enjoy NFT by pawning it, but the ones we have mentioned are considered the best.
3. Play Games To Earn Nft Units
Don't worry, your eyes haven't deceived you because NFT units have entered the realm of gaming or vice versa because the situation is confusing. A few months ago, some games started to appear that adopt the Play to Win or play to win system, in which players are paid money to perform tasks in the game.
Games belonging to this domain rely on NFT modules to be a reward for players, and they also allow them to buy and trade them with their peers. The games that belong to the domain of play to win range from adventure games to role-playing games and card trading.
So far, no game in the play to win domain has been able to attract attention or make a fuss, either in the games domain or in the NFT domain. Still, a large sector of experts in the NFT domain expect that the games domain will be the best investment domain for this in the future.
This may be due to the increasing profit and trading operations that these games provide to these units.
The most important games that can benefit from NFT:
A) The Axie Infinity game
Axie Infinity is an Ethereum based game, and offers a similar style of play to the popular Pokemon series, players of Axie Infinity breed and collect digital creatures based on NFT modules these creatures are called Axie.
The purpose of breeding and collecting Axie creatures is to increase their strength and skill level to enter into battle matches between these creatures and some of them, Axie creatures can be sold or traded on markets selling NFT units.
Unfortunately, the Axie Infinity game is not free to play. You must purchase an initial package containing three Axie creatures to start the game. Still, it is expected that the Axie Infinity game will benefit from several developments this year, including the ability to play for free.
B) The Gods Unchained game
Gods Unchained is a free game designed to integrate the NFT modular system into a familiar genre of card trading games.
Players collect cards by buying them from other players or by winning them in PvP style matches, often the quality of the cards and the players' skills determine the winner of these matches.
Gods Unchained is a game emphasizing skill and strategy play, the game pits players with the same grades against each other in a match-up that offers a form of fair play but relies on intelligence to win.
While Gods Unchained players win by selling and trading playing cards on the particular game shop, trading and selling yields units that can be used to earn NFT.
Gods Unchained is a game still in its infancy, and the exact details of how to profit from it are not yet clear.
C) The Splinterlands Game
Splinterlands is one of the first games developed in digital currencies based on the play to win system.
Splinterlands is a trading card game, but the cards are considered NFT units. As the player progresses through the game by playing with different cards, he/she receives a symbolic reward in a currency called DEC, a game currency.
The NFT cards in Splinterlands represent monsters or lands that can be purchased.
The game is based on the Hive protocol for digital currencies, but this can be converted into a code assigned to NFT units, after which these cards can be treated as NFT units, allowing them to be traded in markets selling these units.
The NFT codes in the Splinterlands game are pledged by keeping the DEC codes earned by playing the game.
E) The Sorare game
So rare is a fantasy football trading card game based on Ethereum blockchain technology, players of this game collect or buy trading cards to participate in weekly contests, and have the opportunity to open rare cards or earn ether (the currency for Ethereum).
By the end of 2021, Sorare Game had over 200 sports clubs on its platform, some of these names included famous clubs such as Real Madrid, Liverpool and Paris Saint-Germain, with more being added every week.
The cards are divided into four categories:
- Easy to find or shared cards.
- Rare or Uncommon cards.
- Very Rare or Super Rare cards.
- Unique or one-off cards.
So rare is a free-to-play game, and players receive a set of random shared cards when they complete specific tuning tasks, but to progress through the leagues and win prizes, you will need to purchase rare cards.
4- Profit By Converting Your Assets Into Nft Units
Do you have a collection of rare photographs and you can convert them into digital form and sell them as NFT units, we know the idea is a bit crazy, but it is almost the most straightforward idea with which you can profit from NFT.
The American Basketball Association launched a set of player cards in the form of NFT and has had great success and sales, the idea of selling and trading cards is very successful in western countries, this success has opened the way for people all over the world to convert their collectibles into NFT, whether they are photographs or photos of actual collectibles.
5. Create Your Own Nft Module And Sell It
The primary purpose of creating NFTs is to profit from them, no matter how some try to mention other purposes, so the easiest way to benefit from NFTs is to create a number of them and sell them on one of its platforms or marketplaces.
The NFT you want to create can look like a photo, video or music, the limits here are only your creative imagination،
This is done with the same idea as selling paintings at regular exhibitions, but of course, to sell your creations, they must be distinctive and unique.
There are several platforms on which you can sell NFT units, we will mention them in the next section of the article, and you can also profit from the NFT you have made from them through one of the previous methods.
Creating NFT modules from scratch or converting graphics or files you own into NFT modules can be done via the same platforms.
The most popular platforms on which you can create NFT modules are:
A) The Appy Pie NFT Generation Platform
The Appy Pie NFT Generator platform is one of the latest platforms that allows you to create your own NFT module, you can create an artistic NFT module (image or video) without needing technical skills or software knowledge.
Appy Pie NFT Generator is an easy-to-use platform, it can be used for free and offers a wide range of custom features to meet artistic creators' needs and help them create excellent creative NFT modules.
B) Fotor NFT Creator Platform
The Fotor platform provides an easy tool to create NFT modules without the need for technical skills, the platform leverages artificial intelligence technologies to help users create their own NFT modules in minutes.
Converting an image you own into an NFT module on the Fotor platform is a one-step process, all you have to do is upload your photo to the forum, choose an art style and the platform's NFT module builder will handle the rest of the process.
Despite some of its complications, the NFT profit area is an excellent area of digital profit and passive income, in my opinion, the best ways to profit from NFT are to create units and sell them or gamble for them due to the lower cost of both methods than the rest.
In your opinion, which of the methods we have mentioned in this article do you think suits you best? Expect the popularity of NFT unit trading. Tell us your idea on how to earn NFT in the comments.