As cryptocurrency continues to grow, we’ve seen several trends rising, promising to become the next real deal in the cryptocurrency world. One of these trends is NFTs (Non-Fungible Tokens), quickly gaining popularity as one of the leading passive investment methods. In the past few years, NFT has become so popular to the extent that respected celebrities, investors, and corporations are talking about or launching their own NFTs.
The gaming industry isn’t exempted from this, as NFT has revolutionized the gaming scene. Recent statistics revealed how the popularity of NTF is fast rising. The total NFT sales in 2020 surpassed $250 million, while the total NFT sales in the first quarter of 2021 were over $2 billion.
This indicates that there’s a lot of money to make with NFT tech. And, if you were asking whether NFT can make you rich, the answer is yes. In this post, we shall discuss the different ways that you can make money with NFTs. Read on for more information.
Rent out your NFTs
One of the best ways to make money with NFTs is by renting out your NFTs. This makes you earn passive income, allowing you to become richer in the long run. For instance, if you have an NFT which looks similar to Cryptokitty, it may be easy for some people to pay for that unique experience of owning a rare kitten just like everyone else. That’s because not everyone can afford or get their hands on one of these unique collectibles.
This means that if you have the chance of being able to rent out your Cryptokitty to anyone who wants it, then there’s a good chance that they will pay pretty high for this experience. You can keep your Cryptokitty in a safe place but rent it out to someone who can pay for the fee. During their stay, you will be doing everything possible to keep your Cryptokitty in its best condition.
Make Money with Cryptokitties Online Casinos
Millions of dollars have been spent online gambling in Cryptokitties ever since Cryptokitties allowed such actions in late 2018. The popularity of Cryptokitties has led to an increase in the number of games being offered by Cryptokitties. There are several in-game competitions, jackpots, and tournaments which can be won if you join them.
If you decide to join any of these contests or competitions hosted online, you stand a chance to win over $5000. And to make things even better for you, this is all possible without investing anything at all. All your need is NFTs stored in your wallet, allowing you to play online casino games against other people who have made investments. If they lose their funds while trying to beat you, it’s only fair that they should give up their tokens to compensate for the losses.
Participate in Auctions
Auctions have become a popular way for individuals and corporations to sell their goods, from NFTs to real-life products. One issue with Cryptokitties is that there’s still no direct way for users to spend their coins on it even though it’s a blockchain-based product or service. This means that if someone wants a certain good but doesn’t have any coins at all, then the only way they will be able to get it is by buying coins from other users on Cryptokitties or from exchanges.
This has become one of the most lucrative ways of earning money with NFTs, especially when there’s no direct way of spending tokens within Cryptokitties itself. At the moment, it’s estimated that there are over 400 stores in Cryptokitties, and only a few of them accept NFTs. This means that if you want to sell your goods or services through this cryptocurrency platform, you have little or no other option but to use NFTs.
Get Paid to Play Games
Earning real money by playing games might sound too good to be true, but it’s possible. Several video game companies allow users to earn NFTs and other cryptocurrencies by playing games and completing quests within the games themselves. Once you receive these tokens in your wallet, they can either be stored or traded on an exchange for real money or used on a different platform on blockchain that supports token usage, such as cryptocurrency exchanges or gambling websites. This is one of the top blockchain advantages.
There are two ways of earning NFTs from these platforms: The first is through taking surveys while playing online games, while the second method allows users to play flash games on the Internet with ads embedded in them. For every ad watched or survey completed, users will receive a certain amount of coins which later turn into cash after trading them on an exchange.
The most popular way of earning money with blockchain is by playing games based on blockchain technology itself. Some of these games give users a way to earn NFTs when they’re inside the game, while others allow members to win additional tokens when they reach certain levels in the game or complete quests. There are several websites that you can join that offer gamers this kind of opportunity, but it’s important to bear in mind that the demand for these types of gaming networks is much higher than what can be supplied at any given time.
