An NFT or Non-Fungible Token is a unique set of collectibles, for example, goods or assets that have distinct value. Unlike bitcoins and other forms of cryptocurrency, they are not interchangeable. This is because not all of them are made equal. Some of them are worth much more than others.
NFTs are now the most popular form of cryptocurrency and everyone is looking to benefit from them. From high-profile influencers to Fortune 500 companies.
If you’ve been thinking about trying your luck with non-fungible tokens, you’ve come to the right place.
Use this article to start making money from NFT and ensure you don’t get left behind.
EDUCATE PEOPLE ABOUT NFT
The most effective and fast way to profit from NFT is to educate people about it. A lot of people are new to it and looking for ways to understand it better and also benefit from it. So, read all you can about it and make sure you understand its ins and outs. Once you are comfortable with it, create an online NFT course.
You can start a 14-day Bootcamp, target beginners, or offer a complete course. For example, your course can be from beginner-level to advanced level.
Make sure you add value to your students’ lives to enroll more people and profit from your course. Your course can focus on helping students create NFTs, sell them, and make money.
If you don’t like teaching but have decent writing skills, create a blog and focus on educating your audience about non-fungible tokens. Write about NFT, what it is, how others are benefitting from it, why your readers should consider getting into it, and how they can benefit from it.
Use your blog articles to not only educate your readers about non-fungible tokens but help them get started in making money from NFTs. Offer free content and premium content to ensure you benefit from your efforts.
Your free content can be a few articles where you talk about the value of NFTs, what they are, who can leverage them, and how they can benefit your audience.
Your premium content can focus on helping your readers create NFTs, buy them, and sell them. You can also offer giveaways to get more people to upgrade to your premium content. For example, share links to useful resources or write an eBook and make it exclusive to members only.
Optimize your blog for SEO to ensure you reach more people and get them to buy your content.
Use online paid ads to advertise your course or promote it on your business website. Doing this helps you market your course to more people and is key to enrolling more students.
WRITE AN IN-DEPTH E-BOOK
eBooks are one of the most lucrative ways to make money online. The best part is that you only write them once and enjoy recurring revenue. Depending on the nature of your content, you may have to update it now and then. However, that only takes an hour or so and you’ll be done.
So, write an in-depth eBook that focuses on non-fungible tokens.
Your e-book can be a step-by-step guide that helps readers create and sell NFTs.
The goal is to ensure you write a detailed eBook that helps your readers every step of the way. From creating an NFT to selling it. Pick one or two NFTs that your audience can create, guide them through the process, help them identify the right platforms to sell on, help them create an account on that chosen platform, and set everything up.
After completing your step-by-step guide and helping your audience create and upload their first NFT, share useful tips on how to market their creations and make money.
Make sure your eBook adds value to your readers’ lives and ensures earnings. When people find value in your content, they will tell their connections about your book and set you up for success.
Sell and publish your eBook on Amazon Kindle Direct Publishing, Apple Books, E-Junkie, or Gumroad.
Market your book to ensure more people know about it and ensure results. Tell your existing social media followers about it and promote it in your newsletters or business website.
Another option is to create an NFT newsletter that shares the latest updates, market developments, and press releases and send it to your subscribers daily, weekly, or monthly.
Create a membership site and create three different packages or paid plans. Members can pay a monthly fee to access your newsletters, an annual fee where they will pay once a year and gain access to your newsletters for the entire year, or a once-off fee that gives them lifetime access to all your newsletters and any other content you share.
Another option is to start an NFT forum similar to Reddit or Quora and bring creators, buyers, and experts together. Get people to connect, share ideas, talk about their work, and advertise their creations. Run ads once the platform gets more traffic to make money.
CREATE AND SELL NFTS
If you are an artist, designer, or creator, sell your work as non-fungible tokens. You can create original artwork, audio clips, memes, GIFs, music, films, and so much more and monetize your creations as non-fungible tokens.
Create and sell art and collectibles. You can either create a single artwork and sell it or a collection of your original art.
Individual non-fungible token artworks are the most valuable and popular non-fungible tokens you can experiment with.
Christie’s is a renowned auction house that made $69 million in auctioning a fully digital artwork. It was their first time auctioning a fully digital artwork. Therefore, if you have the right strategy and choose the right marketplace, you can make a fortune, whether you’re starting or have been trying for a while.
If you are already dealing with physical collectibles such as trading cards, memorabilia, or any other items, you can sell them as digital assets and make tons of money. The price of your digital collectibles can be higher than the price of the physical equivalents. So, consider digitizing your physical collectibles. You won’t regret it.
Creating an NFT is a simple process. Some platforms guide you through the entire process and make it easy for you to create your NFT. All you need to get started is a crypto wallet, mainly an Ethereum wallet. You will be using your wallet for transactions.
Create your wallet on Robinhood, Coinbase, or blockchain.com
You can either sell your NFTs through fiat money or cryptocurrency. The transfer gets recorded on a blockchain. So, you don’t have to worry about security.
After creating your NFT, set your sale price. Look at how other creators in your niche are pricing their work to ensure you set the right price.
When setting your price, keep in mind that the platform you choose will deduct a certain percentage of your earnings from each item you sell. So, take that into account and set your prices accordingly.
LEVERAGE NFT FLIPPING
Leverage NFT flipping and trade NFTs. Identify secure and reputable marketplaces where you can buy NFTs at a low price and resell them for a profit.
The most important thing is to conduct enough research and make sure you know what you’re doing. That is how you can avoid losses.
Pick a niche and stick to it, especially when you are starting. Understand the assets you want to trade before you begin and ensure profits.
Search for traders within your niche and learn from them. Aim to understand the current market prices each time you want to buy and sell NFTs. Doing this will help you make informed decisions and avoid losses.
Most traders focus on buying assets at a low price and selling them at a higher price and always see significant returns. You can also take the same route. Search for assets you can buy cheaply and later on sell at a high price.
The right marketplaces will allow you to view, commission, and transact your NFTs.
Ensure significant returns by working with the best NFT platforms to buy or sell NFTs.
Some of the reputable platforms to look into are OpenSea, Mintable, Rarible, Myth Market, and Atomic Market.
INVEST IN NFTS
Search for NFT projects you can invest in and set yourself up for success. NFT projects can make you a fortune. You just have to find the right project to invest in and you’ll be well on your way to success.
The best thing about this is that you can either make a short-term investment or a long-term one. It all depends on what you want.
Target early NFT projects and startups that have the potential to earn huge profits and invest in them.
To succeed, you must be able to closely examine every item you purchase to determine whether or not you’ll be able to profit from it. Focus on low-priced NFTs and avoid overpriced ones to avoid losses. Especially when you are starting.
Pablo Rodriguez-Fraile is an art collector who managed to flip a digital art piece almost 1000 times its initial price in less than 6 months. You can too. You only need to come up with an effective strategy, be able to examine or analyze the piece you want to purchase, ensure you’ll earn significant amounts from it, and then buy it.
Keep in mind that while you can make tons of money from flipping NFTs, your investment can also go down the drain and lead to losses. So, decide if it’s worth the investment. If you do enough research, understand NFT trading, understand the assets you want to flip, and realize the reward far outweighs the risks, go ahead and make the investment.
PLAY NFT VIDEO GAMES
NFTs have a gaming feature that allows you to play and earn. When you play NFT games you gain full control over different assets available in the game. Some games even give away free collectibles to the first few gamers. You can use the collectibles to earn money and profit from NFTs.
The secret is to only focus on high-value games to ensure you receive valuable assets and benefit from the whole process. So, only work with or play games developed by reputable companies or developers.
The games allow you to also buy, sell, or trade your collectibles. So, with the right strategy, you can make a lot of money here.
If you are a developer, you can launch an NFT startup, become an NFT developer, build your game app, and start earning.
Gamers are big spenders. So, if you develop a valuable and entertaining game, you will make as much money as you want.
Another option is NFT staking. Use it to earn future profits.
Staking is when you hold your digital assets in ‘stakes’ and release or assign them to people who are willing to maintain them.
You benefit by receiving a portion of the stack prize. You can also stake your NFTs and win lots of rewards and inducements on reputable websites that have high volumes of traffic.
BUY AND SELL NFT DOMAINS
This is one of the most lucrative ways to benefit from NFTs. You simply buy an NFT blockchain domain and rent it to users or resell it. Depending on what you want to achieve, the value of your domain, and the buyer.
Countless companies are selling NFT blockchain domains and you can benefit a great deal from them. All you have to do is make sure you select the right company and the right buyer.
Do adequate research to ensure you make informed decisions. To avoid scams, make sure you know and understand the company you’re dealing with and the individual you are selling to.
A few things to keep in mind when picking the company to buy your domain from are; how long they have been in business, their niche, who they are, the people or companies they’ve worked with, and client success stories.
Simply visit their website and find the information you need. Go through the entire site to understand the business better. However, focus more on the landing page, “About us” section, “Services” page, and the customer testimonials.
What are others saying about them? What is their experience with the company? Can the business help you meet your needs? And how many people or companies have benefitted from doing business with the company in question?
Next, learn more about the buyer to avoid scams. Find out all you can about the person who wants to buy your NFT domain before selling. Review their purchase history or go through their social media profiles to find out if they are the perfect fit and won’t give you headaches down the line. Especially if you are renting out your domain.
You want to make sure you work with someone professional and trustworthy. So, you can ensure profits and avoid losses.
Another great way to profit from NFT, make informed decisions and smart investments is to hire a freelancer on Upwork or Guru.
Find an NFT consultant and work with them. Work with someone who has experience in the field and good client reviews. Find out what other clients are saying about the freelancer to ensure you choose the right person.
Visit the freelancer’s profile to learn all you can about him or her before hiring them. Pay attention to client reviews and ratings.
The best thing about working with a consultant is that he or she is already knowledgeable in the field and will, therefore, speed up the entire process.
The consultant will help you learn more about NFT, tell you all you need to know about it, state the best ways you can profit from NFT, ensure you trade on the right platform, and help you make smart investments decisions.
If you want to launch an NFT startup or develop an NFT game but aren’t tech-savvy or don’t have the time to acquire the necessary skills, hire an NFT developer. He or she will help you brainstorm profitable ideas, develop a valuable game, ensure you profit from your project, and greatly speed up the entire process.
NFT technology makes it easy for you to protect or sell your artwork and never worry about plagiarism. Especially for artists who are always concerned about people stealing their work.
So, learn all you can about NFT, pick a niche, decide what you want to sell, conduct adequate research on the marketplace you want to work with, choose one of the above-mentioned methods to start profiting from NFTs, and stick with it.
Develop and launch an app that focuses on selling, buying, and trading NFTs. Make sure the app focuses on NFT only and nothing else. Monetize it by making a profit off every sale. If you have decent coding skills or enjoy programming, you can make a lot of money from your app. If you are not tech-savvy or aren’t interested in coding, hire a developer on Fiverr or Upwork for your next project and set yourself up for success.