When thinking about the best investment markets available today, many people think about the NFT space. It is growing faster than ever, and the options for making a profit with this technology are almost endless.
Like with any other investment, there are many risks when dealing with NFT sales and digital assets in general. You must understand the differences between all kinds of strategies and investments to avoid any mistakes during the process, whether when trading NFTs or creating them.
If you are a novice considering investing in this market, this beginner’s guide is for you. We will show the main ways to make money with NFTs and the correct way to do it. Be sure to follow each step carefully to avoid problems like scammers or hackers trying to steal your digital asset.
What Is NFT
To invest in this universe, you must first understand basic nft and what it is. Non-Fungible Tokens (NFTs) are digital assets stored in blockchain technology that are unique and can not be replaced by anything else.
This is the main difference between NFT tokens and traditional crypto tokens, like Bitcoin and Ethereum. Thanks to its uniqueness, the artist can freely choose how much to charge for the piece.
Although many people instantly relate non-fungible tokens to art and NFT collections, there are endless uses for this kind of technology. They can go from games to IDs or tickets for a show.
Why Is NFT a Good Investment
There are many reasons why the non-fungible token market is one of the best investments to quickly earn money nowadays. The first is thanks to the infinite possibilities you can do in this universe.
You can go from NFT trading and selling NFTs to make a profit to other fields like NFT gaming or creating NFTs to sell to other investors. There are many different types of investments you can make and each one will have a particular NFT value, risk, and return. To reduce investment risk and increase return, you should know how to determine the value of a specific NFT.
Because of this, you need to understand each type and the main difference between them. This way, you can choose which suits you best and meets your expectations.
How to Make Money With NFTs as a Beginner
Now that you know what an NFT is and why the NFT market is one of the most promising investments, it is time to start understanding the different types of actions you can take. Each one has a different risk and will need a different amount as investment.
After analyzing, you must choose the one that fits your wallet and will generate the desired profits. Here are the main ways you can make money with NFTs:
Trading NFTs
The most common type of action you can do in this market is trading digital assets. Many investors buy pieces for an NFT collection to trade them in the future with other collectors. Trading NFT art is also very simple and can be easily done. From a cheap digital asset to hyped pieces from famous collections, everything can be traded in the NFT marketplace.
Remember that some NFTs can be acquired for free, and to do this, you must follow NFT pages from artists and enthusiasts so you don’t miss these opportunities. Acquiring these items is one of the best ways to make NFT sales with low investment, especially if you borrow NFT cards.
Joining an expensive NFT auction is also a great place to trade NFTs with high value. Make sure to look for trustworthy sources.
Read more about Trading NFT.
NFT Staking
Another great way to make money in this universe is to stake NFTs. Staking non-fungible tokens means locking these assets in a DeFi platform. By doing this, the NFT owner generates a passive income and still maintains ownership through the asset, which guarantees that you will earn passive lifelong royalties.
One example is by staking NFTs Yields coins. Doing this generates a passive income to the token holders that can be reinvested into other yield-generating assets.
The main objective when doing this is to generate a passive income in the form of rewards and benefits in most cases. It is important to remember that for this kind of investment, you must first buy native NFTs to gain staking token incentives.
If you want to facilitate NFT staking, choosing the correct platform for this practice is highly recommended. One of the most common platforms for staking is NFTX.
Read more about What Is NFT Staking.
Flipping NFTs
If you are trying to make money with NFTs, this might be an excellent technique for you. Flipping is a common practice in all kinds of collectible items, and in the NFT sector, it is no different.
In this type of investment, the collector will buy a collection piece for a price and then try to sell it for a higher one, generating immediate profit. Although the process looks simple, the investor must look into many details before deciding which piece of the NFT collection to buy. The practice is even more common when a new NFT card collection is released.
All the data regarding the artist and the collection can impact the price and profit generated. Information like liquidity, the rarity of the traits, and holding time are indispensable to guarantee a good investment.
Trying to flip NFTs is one of the best ways to invest in this world, and the price needed will depend on how much you are willing to invest. Don’t forget to carefully choose which asset or NFT collection to invest in. Each one will generate a different impact. The NFT market is highly volatile, and the prices are constantly changing.
Read more about Fliping NFT.
NFT Creation
If you like arts and illustration, this is the best way to mix work and fun. There is an enormous number of new artists joining this market every day, being one of the best ways to profitably invest in NFTs.
Creating your own NFT collection is a great way to make money, especially if you know how to promote your project. Once your collection gets hyped and desired, you can sell your own NFTs for an enormous price and faster than with tradings. Moreover, you will always receive money from each sale regarding your NFT projects thanks to NFT royalties.
Be original and make digital works that reflect what you really like to draw. Original projects are the most sought-after and generally have their price increased quickly.
Combining it with good social media marketing and community engagement is the recipe for success. This investment can also adapt to how much money you can spend.
If you are thinking of minting NFTs as fast as possible and for the most significant number of people, you can pay the gas fee and use the Ethereum blockchain. On the other hand, if you don’t have money to spend, you can use Polygon for the minting process and have that price deducted from the sales income.
read more about Creating NFT.
NFT Gaming
Another fun way of earning money with NFTs is by playing NFT-based video games. Investors can easily acquire digital assets and other rewards by simply playing games.
There are tons of projects out there from the most various game genres. If you want to begin in this universe but don’t want to invest only in NFT collections, this is the way for you.
Most blockchain based games include free rewards and in-game NFTs for the players, and these rewards can be sold in specific marketplaces for other users. By doing this, you can make a profit without spending a single penny on the game.
The more you play, the more rewards you will get. These digital assets tend to take longer to sell when compared to digital art, but it is one of the easiest ways to make money with NFTs without taking any risks and some of these assets can be worth millions of dollars with the passing of time.
Be sure to look at the NFT games available online and see the rewards you can get. It is also recommended that you do research on the profit you can make with each title to see if it will be worth spending your time on.
Here are some examples of popular games:
Read more about How NFT Games Work
NFT Marketing
If you don’t want to buy NFTs, but work with the creators and collectors, you can also make money by handling NFT marketing for these people. Looking for the best strategy and helping creators to promote their projects for interested buyers is a great source of income.
By joining communities on Discord or any other platform, you will see many creators and NFT companies looking for someone to help with this task. If you like digital marketing and want to be in the NFT space, this might be the perfect opportunity to generate regular income.
Although this kind of service is mostly requested by creators and artists, it is also common to see investors looking for a marketing professional to help them sell NFTs. From the links to the NFT marketplaces to the posts regarding the pieces, a good marketing strategy can be a game changer, and people are willing to pay a lot for these services.
Read more about How To Promote NFT.
Extra Tips for Beginners
Along with the main strategies you can do to make money as a beginner, there are some tips that will directly impact your development in this market. Following them will help you not only to get more experience but also to get known by the NFT community.
Recognition is one of the most important things when it comes to NFTs. Here are some tips to help with this task:
Join NFT Communities
One of the best things you can do when investing in this world is to join communities about the topic. There you will find many collectors and artists willing to help you and teach you the basics of making more profit and being successful.
Moreover, it will make you known by the community, making it easier for you to get jobs like NFT marketing.
These communities are safe spaces, and the members are always sharing experiences that can be perfect for finding out which type of investment you want to focus on. Here are some examples of communities you can join and exchange experiences with other members:
Try Different Strategies
When looking for a way to make money as a beginner, you can find tons of different options, and you don’t need to stick with only one for the rest of your life. Trying out different investments and ways to make money is a great way to better understand this universe.
You will acquire more knowledge and experience every time you try something new. This will help you grow, and it will be way easier when you find what you really want to do.
Moreover, more experience means more connections. You will be known by a bigger part of the NFT community, which also helps a lot.
Think Twice Before Spending Money
As we mentioned before, the NFT universe is really volatile, and so are its prices. You need to analyze every aspect of something before investing in it.
This is important, especially when dealing with actions like NFt trading and flipping. Take a look at all the information you have regarding a project before buying pieces of it.
Of course, you will probably lose some money along the way, which is almost inevitable when experimenting with new things. But the most important part is guaranteeing that these mistakes will serve as lessons.
The only way to be successful with NFTs is to make the right decisions. Thinking before acting is a vital part of this process.
Conclusion on Making Money With NFTs as a Beginner
The NFT market surpassed some of the most popular ones when it comes to investment, and it is a great place not only for experts but also for beginners trying to make money. There are tons of options and strategies you can do to achieve what you want.
Each activity needs a different initial investment and time to be perfected. You must choose the one that better fits your expectations.
Remember that everything will contribute to your knowledge and experience regardless of what you do. You don’t need to know everything to make money with NFTs, but you must always keep improving your techniques.
Don’t forget to join communities and talk to other members to exchange ideas and experiences. This is the perfect way to better understand how everything works.
Now that you know everything you need to make money with NFTs as a beginner, it is time to start choosing what to do first. Whether choosing to be an artist or an NFT flipper, think twice before doing any action. This way, you will be able to make huge profits with high profile NFT sales and succeed.
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