There’s no denying the fact that NFTs are on the rise. We’re witnessing new records in terms of trade volume and prices of individual pieces as well. For instance, just last month the overall market size of NFTs expanded to about $7 billion. Yes, that’s billion with a B!
At the same time, it’s hard for people to understand the exact workings of these new digital assets. Making actual money off of them, then, is a farfetched imagination for most people. Or at least that’s what they think.
We’re here to tell you that making money with NFTs doesn’t have to feel like a gamble. Like any other business, there are things you can do to improve your odds of success.
So in this article, we’re going to outline some of the most exciting ways you could profit from the NFT craze without losing your mind. Don’t worry. You don’t need to be a “techno king” to make a profit or even generational wealth with these novel assets.
1. Find Emerging NFT Collections
Buying, or at least trying to buy the most popular items is a mistake people make in every sector of the economy.
They look at what’s most likely to succeed and invest in that. But since everybody knows that Apple and Facebook will continue to succeed, their stock price reflects that reality. In other words, the market has already accounted for the growth potential of those assets by pricing them much higher than what what’s realistic for their current worth.
The whacky world of NFTs is the same. Everybody knows that the iconic Bored Ape collection will continue to be successful, and this is reflected in the insane prices.
What you need is to find emerging NFTs instead. These are collections with a small but dedicated community of loyal fans. Their followers are passionate about the art and utility potential of the project, not just pure speculation.
Your goal should be to discover such projects by being active in relevant social media groups and then investing the projects that seem like the best deal.
2. Rent NFTs
This is an exciting new option as there are many platforms today that let you rent NFTs instead of selling them.
So if you have a few NFTs sitting in your portfolio that you believe will increase in value over time, you should rent them out to people and make some passive income in the process. This way you’ll dramatically boost your profits by earning rental income while you wait for that price appreciating moonshot.
However, we cannot stress the importance of using a reputable platform for this. The right platform will automate everything for you, from renting out the NFT to ensuring the collection of rent from users and preventing the theft of your asset.
Our Shihtzu NFT Marketplace will support rentals by using blockchain and automating with smart contracts so there are zero risks for all parties. This is something that our team is working on behind the scenes. Be sure to follow us for updates.
3. Stake Your NFTs
Yes, it’s possible to stake NFTs and earn a handsome return on the investment over time. This is yet another passive source of income for NFT enthusiasts as you don’t have to rely on price increases alone to make a profit. Just holding the token and staking can generate phenomenal yields.
However, you have to make sure that you’re using a trusted platform like the Shihtzu NFT marketplace so everything is crystal clear and there are no fine prints that could result in a loss.
4. Get a Loan by Putting Up Your NFTs as Collateral
A common scenario that all investors face from time to time is that they buy a promising NFT by splurging a big portion of their portfolio on it. But then the market slows down and people lose interest in that collection. Unfortunately, that means the liquidity of the investor gets locked unless they’re willing to sell at a huge loss.
So if you have an NFT in your portfolio that’s going sideways but you know that it will bounce back over time and make you a big profit in the long run, you should consider putting it up as collateral.
That’s right. You can now use your NFTs to secure a loan by putting them up as collateral. This way you can unlock a big portion of the liquidity and invest it in other assets while you wait for the price of your NFT to soar over the following weeks or months.
5. Mint and Launch Your Own NFTs
You don’t have to be an active NFT trader because today it’s very much possible for the average person to launch an NFT of their own.
Shihtzu Exchange is making NFTs accessible for people from all walks of life by introducing simple, easy, and effortless applications through its NFT marketplace. As a result, anyone can launch an NFT piece or a full collection without spending months figuring out intricate tech details.
Furthermore, Shihtzu Exchange offers a unified platform where the wallet, tokens, NFT minting and trading, and Metaverse applications are integrated together.
You don’t need to be the next Picasso to launch your NFT either. You can put your unique perspective on the internet culture to good use and create meme NFTs. These are some of the hottest assets as they reflect the truly raw, unfiltered ideas of the digital world.
After all, we’re living in an age of what many experts are calling the “meme economy”, as the new generations do not identify with mainstream outlets and prefer the authenticity of uncensored online cultures.
Another major benefit of using the Shihtzu NFT Marketplace instead of other options is that your creations will have a variety of built-in utility, as all NFTs are integrated across our entire ecosystem of blockchain applications. This will instantly uplift the appeal of your project and thus boost your odds of making big profits with your NFT collection.
To learn more about Shihtzu Exchange and start making some lifechanging money with NFTs, be sure to explore the following links: