NFT staking – what is it and how can you make money on it

NFT staking is a relatively new, but already very popular way of obtaining passive cryptocurrency income. But first, just in case, let's figure out what NFT is.

NFT - non-interchangeable tokens, which are digital versions of collectibles, game artifacts or works of art, the value of which, as a rule, only increases over time. The NFT market is constantly developing, and truly astronomical figures appear in it – its total volume has already exceeded $ 20 billion. What is the work of the digital artist Beeple "The first five thousand days" worth, which in 2021 was sold for $ 69 million. Therefore, it is not surprising that developers, artists and owners of NFT are constantly looking for new ways to use them, and staking is one of them.

NFT staking - what is the point?

In simple terms, NFT staking is blocking NFT on the platform or in the protocol for a fee. The platform uses blocked NFTs, and their owner receives additional passive income for this. This can be compared to a bank deposit - you bring a certain amount of money to the bank, which it uses and pays you interest for it. The income from staking depends on three main factors – the number and type of invested NFT, the duration of the staking and its annual interest income.

Why NFT staking is especially beneficial – specific examplesNFT staking opens up much more opportunities for users than the already more familiar cryptocurrency staking, and that's why.

Many metaverse and NFT games offer users who stake their currency a fairly high percentage due to their own popularity and demand. Let's look at some examples with specific numbers.

Let's start with the well-known MOBOX, where it is necessary to assemble a family of 4 MOMO NFT characters working in mines and earning MBOX tokens for users. Moreover, all these miners should be from the same collection, but with different levels of rarity. For such a family, you will have to pay about $ 1600, while the reward for his staking will be about $ 221 monthly. In total, we get $ 2,652 per year, that is, the income from this kind of "lease" of NFT will be 165%. 

Another example is the new metaverse NFT Worlds, a plot of land in which costs about $ 25,800. The monthly income from staking such a site is about $ 540, for a year you can get $ 6,500, that is, about 25% of the investment. The same banks with foreign currency deposits never dreamed of such profitability. 

NFT Staking PlatformsBelow are some examples of platforms that will help you get acquainted with NFT staking and evaluate its advantages without significant costs.

There are quite a lot of them today, even excluding the well-known Binance.

For example, the decentralized BiSwap exchange and its NFT collection of Robbi robots. Robots can be pumped and thereby increase the income from their staking, the amount of entry into the project starts from only $ 25.

Or FoodFind is a project to provide simple cryptocurrency payments in the restaurant sector around the world. In this case, staking will bring 20% per annum. 

Summing up, we can say with confidence that NFT staking has already proven itself perfectly, and its popularity will only grow further, so it is definitely worth paying attention to.

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