In this article, we will try to answer these questions and more. NFTs aren't just material for high-end art dealers or digital asset investors. Anyone can invest and earn with NFTs. You just need to know how to choose the right market or platform. Let's see how to do it.
Investi in NFT
What is an NFT?
Un Non-fungible tokens (whose acronym is precisely NFT) indicates a cryptographic asset that cannot be altered or reproduced, a unique piece in short. You can think of these tokens as the digital equivalent of an artwork in a private collection. Each artwork in the collection is unique and valued differently.
Like works of art, an NFT can be sold for cash or for cryptocurrencies. However, the asset transfer of the token is recorded in the blockchain just like cryptocurrencies. This step establishes who owns it.
What are NFTs for?
Many of us are already familiar with cryptocurrencies and perhaps already are investing in NFTs. Most of all, however, we are wondering how to make money with NFTs and how and if to exploit them in order to earn.
Unlike cryptocurrencies which are fungible, NFTs are not. Put simply, cryptocurrency is a bit like a real coin or a euro note that represents another type of value. But they are good that they can be changed. Cryptocurrency, therefore, similarly represents value on the blockchain.
What an NFT accomplishes is to assign a very unique value to a digital asset, such as a certificate or statement of authenticity in the digital space, backed by the blockchain. That way, you'll know that you're truly the only one – or at least among the very few – who own that digital artwork, historical video, or even just a tweet.
NFTs are created, or minted, by common and expert users on the blockchain Ethereum (or other chains). The vast majority of NFTs, however, are open source, which means you can create them on one NFT platform and view or sell them on another platform, such as OpenSea o NFT Launchpad eg.
Once the digital content associated with the NFT has been offered for sale, the buyer can feel confident that what they have purchased is truly one of a kind.
NFT purchase
What is the easiest way to make money with NFTs?
The easiest way to making money with NFTs is to create and sell them. You don't need to turn to real digital design professionals for creare NFT. For simple multimedia items, the best NFT platforms provide all the tools to create them. However, to sell more complex assets, you need knowledge of cryptocurrency fundamentals and have a good deal of experience in that space.
You can earn with NFTs even without having to create (or mint) them! Some users treat NFTs like traders do stocks. By buying an NFT of something potentially profitable upfront, you may be able to make a tidy profit later on (but the reverse could also happen).
In short, the best way to make money with NFTs varies from situation to situation. If you have money set aside, your best bet may be to buy an asset that will obviously earn interest over time. If you're a content creator or influencer, you'd probably be better off creating your own original NFTs and selling them, or profiting from NFT royalties or royalties.
Copyrights and royalties
The creator of digital assets can earn royalties passive for life even after selling it to someone else. The creator has to impose terms and conditions on the sale and therefore, every time someone buys the asset that he originally created, he will still receive royalties throughout his life, just like great music artists do.
But what are the royalties assigned to the sale of each NFT? Only a few NFT platforms offer this type of universal compensation. We have tried to summarize them in the list that we publish below:
- NFT Launchpad - 10%
- OpenSea - 10%
- Nifty gateway - 10%
- Binance NFTs – 1% for each subsequent sale
- Foundation - 10%
READ: Tired of FLOKI and SHIB? Here is Kiba Inu, the most popular memecoin
Earning with NFTs – What gives value to NFTs?
Much like the pieces in our hypothetical art collection, consumer interest drives the value of an NFT. Similar to trading cards or football cards, the rarity and the interested consumer base affect their value.
While an image can be converted into an NFT, that doesn't prevent the image from being shared freely. However, it definitely shows who owns the asset through the blockchain.
So far we've talked broadly about what NFTs are, how they're made, how they work, and what the most expensive NFTs have been. But on this page we will see how to make money with NFTs.
Earning with NFT – Buying guide
Some NFT platforms allow the use of credit cards, but the vast majority of NFT marketplace where you can buy and sell NFT requires using and owning cryptocurrencies. You will then need to create a wallet for the currency of your choice.
After verifying your identity on one of these platforms, you can buy the currency directly around its market value. Once you've acquired a fair amount of a better-known digital currency (Ethereum or Bitcoin), it's time to look at which auction site to choose.
Crypto.com is a very famous exchange platform for NFTs of all kinds. It's very similar to sites that sell collectibles like eBay. You can find low-cost digital art to spice up your provate collection.
It should be remembered that you will be charged a commission (o gas fees) when the NFT purchase procedure is completed. The fee varies according to the congestion of the blockchain at the moment and the currency used.
NFT purchase
Earning with NFTs – Create and sell your NFTs
NFTs can be created and auctioned or sold. As mentioned, any digital asset can become an NFT. In order to create and sell an NFT it will be necessary to follow all the steps listed below:
Buy and invest in cryptocurrencies
The first thing you will need to create and sell your NFT is to invest in some cryptocurrencies. NFTs began on the Ethereum chain. There are other NFT platforms available, but for our example we will use Ethereum. You will need some cryptocurrency because whichever platform you choose to create your NFT, you will be charged a commission (or gas fee) payable in crypto.
In case you are not familiar with the cryptocurrency purchase processing, here are the steps to follow:
- Open a wallet – This step can be done through a variety of browser extensions or apps related to NFT wallet. Some of the most common wallets are those from Crypto.com, Coinbase or MetaMask. The process therefore requires nothing more than creating an account, which in the case of a non-custodial wallet typically requires very little personal information.
- Buy cryptocurrencies – After creating your wallet, the next step is to buy some cryptocurrencies. Using ETH as in our example, this process is generally quite simple, nothing more than pushing the “buy” from the Ethereum interface. Cryptocurrencies can be paid for in many ways, including PayPal o American Express, or even just with your credit card.
At this point, you're pretty much done. The only thing left to do is keep track of the private key that will have been assigned to your cryptocurrency, then transfer the cryptocurrency into your wallet. There are some additional things to know and some potential variables in the process, but at a basic level, this is all you need to know about investing in cryptocurrencies to create and sell your NFT.
Now that you have bought cryptocurrencies that you will need to pay commissions for creating an NFT or to buy NFTs themselves, the next step is to choose an NFT marketplace.
Buy cryptocurrencies
What is an NFT Marketplace?
An NFT market or marketplace is nothing more than an online place where you sell your NFTs or buy those of others. Among the most important we want to mention:
- NFT Launchpad – The best NFT marketplace ever with low fees
- Crypto.com – Popular NFT market
- Binance NFT Marketplace – Excellent NFT platform
- OpenSea – The best NFT platform with a large selection
- Axie Marketplace – The best Blockchain gaming NFT marketplace
- Nifty gateway – Leading NFT market in fine art pieces
- Rare – The best NFT market for beginners
Once you have selected a cryptocurrency marketplace, the next step is to create a profile and connect your wallet by following the instructions in both the NFT marketplace of your choice and your preferred cryptocurrency platform. With a few minor differences, this process is more or less the same across all platforms and markets.
Vai su NFT Launchpad
Well, we've almost reached the end. Now it's time to create your NFT.
How to create an NFT
As mentioned above, an NFT, or non-fungible, token can be created and attached to almost any type of digital asset and then listed on a marketplace: from memes to audio files, cellphone videos to digital photographs. Just because it's an NFT, however, doesn't mean your content will sell, and many marketplaces are full of NFTs that won't make any money.
However, NFTs can significantly increase the price of virtual property, acting as a certificate of authenticity in the antiques and collectables market. Sure, NFTs can be shared, traded or gifted, but every NFT guarantees that, come what may, this digital property is and will remain unique.
That said, here's a quick overview of how to create an NFT once you've bought cryptocurrencies and connected your NFT wallet.
- Create a collection. In almost all the different NFT markets, the first step in the process of creating an NFT is to create a collection, usually in the menu we will find a button that says "create". From there, we'll follow the instructions, providing the requested information.
- Click on: new item. The next step is to upload your artwork, first selecting 'new item' in the Create drop-down menu and, again, following the instructions.
Like all marketable products, even NFTs once on the market can also end up in oblivion and not be sold. There are many factors that affect whether or not your article earns money, starting with marketing. We will cover these topics in the next paragraph.
Crea NFT su Launchpad
How to sell an NFT
There are several ways to get attention to your NFT, some free and some paid. Here are some tips to effectively sell your creations:
1. Enter your work in an NFT Calendar
The NFT Calendar is perhaps the best and only way to list your NFTs across all the different NFT markets in a simple to use and easy to navigate interface. The following information is required to use the NFT calendar:
2. Use social media (Reddit) for promotion
Using social media channels or even creating a thread on Reddit or Bitcointalk are among the additional ways to market and sell your NFT. Remember, NFTs are still a relatively new concept, so you may need to spend some time educating your followers about how NFTs work, as well as your particular collection.
3. Word of mouth
Sometimes the best way to market an NFT is the older way used to sell any type of product: through word of mouth or by asking your friends, family and colleagues to join your effort, by sharing the NFT on their own social media channels or in their real-life social circles.
4. Incoming Drop and Market Newsletter
In addition to all this, there are other effective but paid ways to market your NFT, including paying an influencer to mention and mention your Drop, hiring a PR agency or budgeting for advertising your product in a particular social network. If you already have your own website, be sure to promote your NFT there as well.
How much is my NFT worth?
Creating and marketing your NFT is important, but so far we have neglected to mention what many consider the most important question of all related to non-fungible tokens: How do I evaluate the price of my first NFT?
The average price of an NFT can range, depending on the market, from $150 to $900, and even then, those prices fluctuate depending on the value of the currency, the time of day, and even the day of the week.
Unfortunately, there is no formula or blueprint for pricing an NFT, and this part of the process can take a lot of trial and error.
Making the question particularly complicated is the fact that the value of most cryptocurrencies fluctuates enormously. That said, here are some things to consider when you've reached this step in the process of building and selling your NFT:
Earning with NFT - How to evaluate an NFT
Start low, but aim high. The price of an NFT is like the price of any type of artwork. For this reason, it's generally best to enter the NFT market – or any other type of market – with your product at a reasonable price and with the understanding that it may be some time before you make a sale. That said, keep track of your progress and don't be afraid to raise the price when and if things catch on.
Be willing to experiment. Choose to set a high and low limit on the price of your NFT and to share the story around your work (often, when it comes to buying an artwork of any kind, a collector will buy based on an artist's story as much as he is willing to pay for a particular work of art.)
It's also helpful to understand that dollar or other fiat currency amounts in the crypto space don't necessarily equal real-world cash value. For example, you may find it unthinkable to value your art for thousands of dollars at a country art fair even if it is worth, for example, thousands of ETH on a crypto level.
Like everything, making money with NFTs is not a perfect and foolproof thing. So far, we've explained what NFTs are, how they work, how to create them, how to value them, and how to market them. There are a few additional ways to invest and make money with NFTs that we will cover in our last section.
How to invest in NFT
Not interested in setting up your own NFT, rather want to buy and sell NFT and profit from it? This can also be done and, initially, the process is much the same as creating your own NFT. In short, just like stocks, you want to invest in NFT assets (Did you know that there are also NFT ETFs?).
Below we offer a quick guide on how to invest in NFTs.
Are you looking to start investing in NFTs right away? If so, here are all the steps that will guide you through the process of buying an NFT from the comfort of your own.
- Open an account with Crypto.com – Easy click CREATE ACCOUNT o CREATE ACCOUNT on the Crypto.com home page, enter your email address and choose a username and password for your account. Next, verify your account by uploading a photo ID and proof of address.
- Buy Ethereum and deposit at least $10 in your trading balance and then search for “ETH” in the search bar. Click “Trade”, enter your position size and click “Open Trade”.
- Connect to an NFT marketplace – Go to the Crypto.com NFT Market and click REGISTER. Create an NFT account and verify your account via text message or by logging into a Crypto.com trading account.
- Investi in NFT – Browse the NFT selection and click on the one you wish to purchase. On the listing page, bid or buy the NFT for a fixed price. Once the NFT is yours, it will be placed in the "Collections" section of your account.
Buy NFT your Crypto.com
What is the future of NFTs?
Like most blockchain experiments, the future of NFTs is relatively unknown. However, major publications indicate that NFTs aren't going away anytime soon. Now that wealthy investors are investing their money, it is likely that they will become more and more mainstream.
With the ability to sell the right to use assets without relinquishing ownership, this could even become the new way to sell music to consumers. To enter the market with the least risk, anything creative you own is potentially valuable. Game sprites, music you've recorded, photos you've taken, important accounts on various sites and forums, and pretty much anything else you can think of could be an NFT.
How to make money with NFT - Conclusions
Criptovalute e NFT, or non-fungible tokens, are defining the way business is done on the internet, opening up new worlds of possibilities to buy and sell digital assets such as audio files, graphics and even memes and video clips with a virtual certificate of authenticity, backed by the blockchain .
In this guide, we have seen and learned interesting facts about creating NFTs, but also about marketing and selling them and even how to invest in other NFTs to resell them on secondary markets at a profit. With careful consideration and responsible planning, NFTs can therefore make money.
Crypto.com, the best way to earn with NFTs
Buy NFT your Crypto.com
FAQ
How to make money with NFTs?
There are several ways to make money with NFTs. Without a doubt, if you are already familiar with digital design, creating unique pieces such as NFTs – photos, video or music clips – will not be a problem. Otherwise, to make money with NFTs it is good to invest in these assets, buy and sell them.
You can invest in NFTs by creating them but also by buying and selling them. The process is pretty much the same as creating your own NFT. In short, just like stocks, you want to invest in NFT assets. In this regard, there are also ETF funds on NFTs.
Is making money with NFT easy?
As with investing in cryptocurrencies, making money with NFTs requires study and dedication. In this guide you can read all the secrets to do it.
