How to Make Money with NFT: Top Strategies Revealed

Understanding how to make money with NFT is not easy, but there are a number of strategies and tricks that can come in handy.

Non-Fungible Tokens, or NFTs, have been making headlines lately, with some selling for millions of dollars.

So how can you make money with NFTs? Let’s explore some of the top strategies and tips for monetizing your digital assets through NFTs.

How to make money with NFT
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What are NFTs?

What exactly are NFTs, and why are they so valuable? NFTs are unique digital assets that are stored on a blockchain, which is a decentralized, distributed ledger that allows for secure, transparent transactions. Unlike cryptocurrencies such as Bitcoin, which are fungible (meaning one unit of Bitcoin is interchangeable with any other unit of Bitcoin), each NFT is one-of-a-kind and cannot be replicated or divided.

NFTs can be used to represent a wide variety of digital assets, including artwork, music, videos, and even tweets. By creating or owning an NFT, you can claim ownership of that particular digital asset, and potentially profit from its sale or licensing.

Their uniqueness is one of the reasons why NFTs are expensive.

Now that we understand what an NFT is, let’s find out a few ways on how to make money with an NFT.

CryptoPunk #5822
© Larva Labs

Creating and Selling Your Own NFTs

One of the most straightforward ways to make money with NFTs is by creating and selling your own digital assets as NFTs. This could include artwork, music, videos, or any other type of digital content that you own or have created.

Here are some steps you can take to get started.

How to Create and Mint Your Own NFTs

  • Choose a platform: There are several NFT marketplaces and platforms where you can create and sell your own NFTs, including OpenSea, Nifty Gateway, and Rarible. Do your research and choose a platform that aligns with your goals and budget.
  • Create your digital asset: This could be a piece of artwork, a music track, or any other type of digital content that you want to sell as an NFT. Make sure that you have the legal rights to the content, and that it meets the platform’s requirements.
  • Mint your NFT: If you don’t know what “minting” an NFT means, it is the process of creating a unique digital token that represents your digital asset. You’ll need to follow the specific instructions for your chosen platform to mint your NFT. This will typically involve setting a price, creating a description, and uploading your digital asset.

Top Platforms for Selling Your NFTs and Maximizing Your Profits

Once you’ve minted your NFT, you’ll need to list it for sale on an NFT marketplace or platform. Here are some of the top options:

  • OpenSea: This is the largest NFT marketplace, with over 4 million NFTs sold and over 700,000 users. OpenSea allows you to create and sell any type of NFT, and charges a 2.5% fee on sales.
  • Nifty Gateway: This platform specializes in limited-edition drops of digital art, and has featured artists such as Beeple, Grimes, and Trevor Jones. Nifty Gateway charges a 5% fee on sales.
  • Rarible: This platform allows anyone to create and sell NFTs, and also offers a “social mining” feature that rewards users for creating and engaging with NFTs on the platform. Rarible charges a 2.5% fee on sales.

When selling your NFT, make sure to set a price that reflects the value of your digital asset and the market demand. You may want to consider offering limited-edition drops, collaborating with other artists or creators, or promoting your NFT on social media or through other marketing channels.

why are NFT so expensive

Investing in NFTs for Long-Term Gains

Another way to make money with NFTs is by investing in them for long-term gains. Just like with any investment, there are risks and rewards associated with investing in NFTs, so it’s important to do your research and understand the market before making any decisions.

How to Research and Evaluate NFT Investments

  • Look for rarity and uniqueness: The more rare and unique an NFT is, the more valuable it is likely to be. Look for NFTs that have a limited supply, are one-of-a-kind, or have historical or cultural significance.
  • Consider the artist or creator: Just like with traditional art, the reputation and popularity of the artist or creator can impact the value of an NFT. Look for NFTs created by well-known artists or creators with a strong following.
  • Examine the market demand: Look at the current and historical prices of similar NFTs to gauge the market demand for your potential investment. Consider factors such as current events, trends, and cultural relevance that may impact the demand for your NFT.

Top NFT Investment Strategies and Best Practices

Below are some tips that you should follow if you are going to follow this strategy on how to make money with an NFT:

  • Diversify your portfolio: Just like with any investment portfolio, it’s important to diversify your holdings to minimize risk. Consider investing in a range of NFTs that represent different types of digital assets, artists, and platforms.
  • Hold for the long-term: NFTs can be volatile in the short-term, but have the potential for long-term gains. Consider holding onto your NFTs for a few years or more, rather than selling them immediately after purchase.
  • Stay informed and up-to-date: The NFT market is constantly evolving, so it’s important to stay informed about trends, news, and regulations that may impact the value of your investments.

In general, if you know how to find NFT projects early, you will have a better chance of earning a lot by investing less.

The Merge by Pak
© Pak

NFTs in the Digital Art World

One of the most popular uses for NFTs is in the digital art world. NFTs allow artists to claim ownership and profit from their digital artwork in ways that were previously impossible.

Here’s how you can get involved.

The Role of NFTs in Digital Art Collecting and Trading

  • Discover new artists and artwork: NFT marketplaces such as SuperRare, Foundation, and KnownOrigin allow you to browse and purchase digital art from a range of artists around the world.
  • Attend NFT art auctions and exhibitions: Just like with traditional art, NFTs can be sold at auction houses and displayed in galleries. Keep an eye out for NFT art events in your area or online.
  • Support emerging artists: NFTs provide a new avenue for emerging artists to gain exposure and monetize their work. Consider supporting new or lesser-known artists by purchasing their NFTs.

Top NFT Art Sales and Auctions, and How to Get Involved

Many NFTs sold for enormous prices, often exceeding those of tangible works of art. Among the most expensive NFTs ever we find:

  • Beeple’s “The First 5000 Days”: This NFT artwork sold for a staggering $69 million at Christie’s auction house, making it the third most expensive artwork by a living artist ever sold.
  • Trevor Jones’ “The Bitcoin Angel”: This NFT artwork sold for over $3.4 million at a Christie’s auction, setting a new record for the artist.
  • Kevin McCoy’s “Quantum”: This was the first NFT ever created, and sold for $1 at an auction in 2014. It has since been sold several times for increasing amounts.
© Beeple

NFTs in Gaming and Virtual Real Estate

NFTs are also making waves in the gaming industry, where they can be used to represent virtual items such as weapons, skins, and even entire virtual real estate.

Anyone who invested early in the best crypto games managed to make a lot of money.

Here’s how to get involved.

NFTs and Gaming Industry

  • Participate in blockchain-based games: Games such as Axie Infinity and The Sandbox are using NFTs to allow players to own and trade virtual assets within the game.
  • Invest in virtual real estate: NFTs can also be used to represent virtual real estate, which can be bought and sold within certain blockchain-based games or platforms. For example, Decentraland allows users to buy and sell virtual land using NFTs.

Investing in Virtual Real Estate with NFTs: Opportunities and Risks

Below are some tips that you should follow if you are going to follow this strategy on how to make money with an NFT:

  • Consider the platform and community: When investing in virtual real estate, it’s important to choose a platform or game that has a strong and active community, as well as a track record of success.
  • Look for unique and desirable locations: Just like with physical real estate, the location and attributes of virtual real estate can impact its value. Look for virtual land that is unique, desirable, or strategically located within the game or platform.
  • Be aware of regulatory risks: The legal status of virtual real estate and NFTs is still evolving, so it’s important to be aware of any potential regulatory or legal risks associated with your investment.
Bored Ape Yatch Club Yuga Labs
© Yuga Labs

Legal and Ethical Considerations with NFTs

As with any emerging technology or industry, there are legal and ethical considerations to keep in mind when working with NFTs.

If you want to understand how to make money with an NFT, here are some key issues to be aware of.

NFT Copyright and Ownership: What Creators and Buyers Need to Know

  • Understand the legal implications of selling or buying NFTs: Just like with physical artwork or other property, NFTs are subject to copyright and ownership laws. Make sure that you have the legal rights to any digital assets that you create or purchase as NFTs.
  • Consider licensing agreements: As a creator or seller of NFTs, you may want to consider creating licensing agreements that outline the terms and conditions of the sale and use of your digital assets.
  • Be aware of potential fraud: As with any online marketplace or transaction, there is a risk of fraud or misrepresentation when buying or selling NFTs. Do your due diligence and research before making any purchases.

Ethical Issues Surrounding NFTs and Their Impact on the Environment

  • Consider the environmental impact: The process of minting and selling NFTs can have a significant environmental impact due to the energy required to power the blockchain. Some platforms, such as Tezos and Flow, are working to reduce this impact by using more sustainable methods.
  • Be aware of cultural and social impact: As with any new technology or industry, NFTs can have cultural and social impacts that should be considered. For example, some have raised concerns about the potential for NFTs to exacerbate wealth inequality or cultural appropriation.


How to make money with NFT: conclusion

NFTs are still a relatively new technology, but their potential for transforming the digital landscape and creating new opportunities for creators and investors is undeniable.

By creating and selling your own NFTs, investing in NFTs for long-term gains, exploring the digital art and gaming world, and being aware of legal and ethical considerations, you can unlock the potential of NFTs and potentially profit from this exciting new technology.

If you find the right strategy on how to make money with an NFT, your life could definitely change.