How to Make Money with NFTs – 8 Best Methods for 2024
Non-fungible tokens (NFTs) operate in a fast-growing marketplace. According to industry estimates, more than $25 billion worth of NFT sales were generated in 2021 – up from $95 million in the previous year.
Those wondering how to make money with NFTs will find this beginner’s guide of great value, where we discuss a range of notable investment methods and strategies.
The Top 8 Methods to Make Money with NFTs
Wondering how to profit from NFT tokens?
We found that the eight best ways to make money on NFTs tokens are listed below:
- Investing in Promising New NFTs Early – Buy Newly Launched NFTs for Maximum Upside Potential
- Invest in a Fund – Buy NFTs to Benefit from a Successful High-Frequency Trading Fund
- Play-to-Earn Games – Earn In-Game NFTs by Playing P2E Gaming Titles
- NFT Rewards – Buy NFTs That Offer Regular Rewards
- NFT Flipping – Buy and Sell NFTs via a Short-Term Strategy
- HODL NFTs – Invest in an NFT and Hold Long-Term
- NFT Staking – Generate Passive Income on NFT Investments
- NFT Minting – Mint a Personalized NFT and List it on a Marketplace
Be sure to read our analysis of the above methods when learning how to make money on NFTs tokens.
A Closer Look at the Best Ways to Profit with NFTs
There are many ways to gain exposure to the high-growth NFT market. Each investment method differs from the next, so investors will need to consider their own financial goals and risk appetite.
When assessing how to make money with NFTs, consider one of the eight methods discussed below.
1. Investing in Promising New NFTs Early – Buy Newly Launched NFTs for Maximum Upside Potential
One of the most effective methods to consider when evaluating how to make money with NFTs is to invest in a newly launched project. This means buying into the NFT project while it is still in its infancy. In doing so, this typically offers the most viable entry price.
For example, the team behind the Bored Ape Yacht Club – which is one of the most successful NFT collections of all time, initiated its launch in April 2021. During which, 10,000 NFTs were made available to the public for the ETH equivalent of under $200.
This NFT collection quickly became mainstream, with a wave of celebrities making a purchase and then subsequently changing their Twitter profile picture to reflect their chosen ape. Since the launch, many Bored Ape Yacht Club NFTs have sold for over a million dollars.
The highest value sale to date amounts to 819 ETH, or $3.4 million at the time. This represents growth of over 1.6 million percent when compared to the original launch price of under $200. Although new investors have since missed the boat on the Bored Ape Yacht Club, plenty of other NFT collections are in the market.
For example, Tamadoge recently launched its crypto presale campaign, where it sold more than $19 million worth of TAMA tokens. Although TAMA is a conventional crypto asset rather than a non-fungible token, the Tamadoge ecosystem is centered on NFTs.
For example, the Tamadoge game requires players to mint an NFT on the Ethereum blockchain to get started, which represents a virtual pet. Each pet is unique from the next and can be used to win crypto rewards through immersive battle experiences.
Within the Tamadoge metaverse, players can also win in-game NFTs that have the potential to improve their virtual pets. Additionally, Tamadoge is also launching its own NFT collection that will consist of 21,000 tokens, across three categories.
This includes NFTs that are considered ultra-rare, rare, or common. Early investors will get the best price possible. Alternatively, those looking to buy Tamadoge crypto tokens can complete the process in under five minutes via OKX, which supports debit/credit card payments.
Another option to consider when searching for the best new NFT project is Battle Infinity. This metaverse NFT project is building an ecosystem that will support everything from multiplayer games and decentralized token swaps to staking.
When playing the Battle Infinity fantasy sports game, for example, players can buy a new NFT pass, which offers access to the tournament. The NFT pass can also be traded on the Battle Infinity marketplace, with its value determined by demand and supply.
Those wondering how to buy Battle Infinity tokens can head over to LBank or PancakeSwap.
2. Invest in a Fund – Buy NFTs to Benefit from a Successful High-Frequency Trading Fund
There are lots of lucrative ways to make money in the NFT market, with most expecting you to just hold the asset to see it appreciate in value. The issue is that you can’t always be certain that your NFT will appreciate. P2E games are also quite lucrative, but the downside is that it requires an investment in time.
One genuinely pioneering is buying an NFT that gives you the benefits of earning from a High-Frequency Trading Fund – which is exactly what The Uncharted is. This is a collection of 21,000 NFTs where the sales revenue is allocated towards the XETA Capital Fund (XCF) High-Frequency Trading fund.
The fund itself is underpinned by complex and secure HFT algorithms, which are usually only accessible by high-net-worth individuals with millions of dollars in liquidity. With this NFT system, The Uncharted opens up a whole new world of investing through NFTs.
Specifically, there is a 36-month term of investment, compounding, and distribution of profits. NFT holders receive a quarterly windfall of profits via an airdrop, but after the 3 years, the fund is evenly split between NFT holders and The Uncharted LTD.
The Uncharted has collaborated with Xeta, a sister company that has raised $3.2 million. The fund itself has a strong track record that is estimated to bring 400% annually.
The team’s mission is to bridge the gap between traditional finance and decentralized finance. The use of NFTs is a unique way to reach that goal, just to hold the asset and The Uncharted NFT collection is one of the most finance-focused ways of earning via NFTs. The collection is expected to launch in Q1 2023.
3. Play-to-Earn Games – Earn In-Game NFTs by Playing P2E Gaming Titles
Play-to-earn (P2E) games are another top trending crypto trend that operates in conjunction with NFTs. As the name suggests, P2E games offer players the opportunity to win real-world rewards. This is simply for spending time playing and progressing through the game.
When playing NFT games to make money, platforms typically offer rewards in two ways. First, players can earn the native crypto token that backs the project. For example, when playing Battle Infinity games, players will earn IBAT. When playing Tamadoge, players will earn TAMA.
Second, the best P2E games in this space also enable players to earn NFTs. Each NFT will typically represent an in-game asset, such as a weapon or vehicle. Either way – and unlike traditional gaming titles, players will own the in-game asset.
The reason for this is that the respective NFT will be hosted on the blockchain network. Not only does this mean that the blockchain verifies and proves ownership, but the NFT can also be transferred to another person. As such, the NFT can be traded.
This option is perhaps best suited to those wondering how to make money on NFTs without actually investing any capital. After all, players will invest their time into the game as opposed to needing to risk their own money.
4. NFT Rewards – Buy NFTs That Offer Regular Rewards
The next method to consider when learning how to make money with NFTs is to choose a crypto project that offers rewards such as NFT giveaways. More specifically, projects like Lucky Block offer real-world rewards simply for buying and holding one of its NFTs.
Each NFT collection on the Lucky Block platform is associated with a competition. For example, the 1MHOUSE NFT collection – of which there are 10,000, offers entry into a competition that enables one lucky participant to win a $1 million property.
Other examples include NFT competitions where players can win $1 million worth of Bitcoin or a brand new Lamborghini. Each and every NFT collection offers lifetime rewards for as long as it remains in the investor’s crypto wallet.
Rewards come in the form of the LBLOCK token, which fuels the Lucky Block ecosystem. Crucially, this method offers a way to make money with NFTs passively. Moreover, if the value of the non-fungible token increases, the investor can look to trade it on an NFT marketplace.
Lucky Block also offers an NFT collection that provides access to its exclusive Platinum Rollers Club. This in itself comes with a variety of perks, such as lifetime access to its NFT competition draw. By winning a draw, the NFT holder will earn a share of the prize pot.
In addition to its NFTs, investors can gain exposure to the future growth of Lucky Block by buying LBLOCK tokens. V1 of the token – which operates on the Binance Smart Chain, is listed on PancakeSwap. V2 – which is an ERC-20 token, is listed on LBank, Gate.io, and MEXC.
5. NFT Flipping – Buy and Sell NFTs via a Short-Term Strategy
Another strategy to explore when assessing how to make money with NFTs is flipping. The main concept here is that the investor will buy an NFT from an online marketplace and then look to sell it to another person, at a profit.
This is a short-term strategy that will only work if the investor is able to source an NFT that is deemed undervalued. The first step will require the investor to explore popular NFT marketplaces, such as Launchpad.XYZ and Open Sea.
A good way to find suitable NFTs is to use the filter buttons offered by the marketplace. Perhaps consider sorting each collection by its popularity and trading volume. Then, the investor can compare the floor price of the NFT collection with another marketplace.
If the NFT is available on the chosen marketplace at a lower floor value, this could represent a great flipping opportunity. Of course, there is no guarantee that the investor will be able to successfully flip their NFT for a profit.
After all, gains can only be made when a suitable buyer is found. This is why it is wise to diversify across multiple low-cost collections when learning how to buy and sell NFTs for profit. The Lucky Block Platinum Rollers Club NFT, for example, trades at just 1.65 BNB – or about $470.
6. HODL NFTs – Invest in an NFT and Hold Long-Term
Those wondering how to make money with NFTs as a beginner might consider ‘HODLing’. In cryptocurrency terms, this simply means investing in a cheap NFT project and holding onto it long-term. The idea here is that adopting a long-term strategy will enable the investor to avoid shorter-term market swings.
A long-term strategy will also give the respective NFT collection time to blossom in the market. After all, the NFT space is now highly competitive, so it can take many months or even years for a project to gain widespread attention.
There will always be exceptions to this rule – such as the previously discussed Bored Ape Yacht Club collection. However, most NFT collections require time for broader demand to catch up with supply.
Nonetheless, taking into account the current crypto bear market, never before has there been a better time to invest in NFTs for long-term gains. In fact, many NFT collections are now carrying a floor price that is more than 50% below its former peak.
By snapping up some high-quality NFTs at a hugely discounted price, this offers the chance to target an attractive upside once the next crypto bull market comes to fruition. One of the best places to find undervalued NFTs for long-term HODLing is Launchpad.XYZ.
7. NFT Staking – Generate Passive Income on NFT Investments
Staking offers a popular way for crypto investors to generate passive income on their tokens. This is a great alternative to simply leaving the tokens idle in a private wallet. Staking has since expanded to the NFT space, which offers another way to make money from this industry.
The idea here is that by purchasing an NFT that offers staking rewards, the investor can target growth in two ways. First, the investor will generate regular income via crypto tokens – which are typically native to the project.
Second, the investor will, at some point, aim to sell their NFT if and when its price increases in the open market. As a result, NFT staking offers the best of both worlds. In terms of notable projects, we previously discussed Lucky Block, which offers a wide variety of NFT collections.
Although the project doesn’t offer NFT staking per se, it does offer lifetime token rewards for as long as the non-fungible token is held in a compatible wallet. Another option to consider is Quint – a newly launched project that offers ‘super staking’.
By staking its native token, investors will be entered into a competition that offers real-world rewards – such as a luxury yacht or a Bored Ape Yacht Club NFT. Both winners and losers will also earn staking rewards – which are returned after the respective competition.
8. NFT Minting – Mint a Personalized NFT and List it on a Marketplace
Another option to consider when assessing how to make money with NFTs without risking too much capital is to engage in ‘minting’. In a nutshell, this refers to the process of creating an entirely new NFT from scratch.
Moreover, the process is actually straightforward when going through an NFT marketplace. The first step is to associate the NFT with a virtual item – such as a piece of digital art. The art will then be unique to the NFT that will be minted.
The only cost associated with NFT minting is that of the blockchain transaction fee. During the bull market, Ethereum – which hosts the vast majority of NFTs, often charged more than $10 in transaction fees. Consider that a collection of just 100 NFT would therefore cost over $1,000 to mint.
However, Ethereum has since made its long-awaited transition to proof-of-stake, which means that NFT minting fees are a lot more cost-effective. Once an NFT has been minted, its owner can then determine the next step to take.
Some might consider listing the NFT on a marketplace like Launchpad.XYZ, in the hope that another investor wishes to buy it. Alternatively, the NFT owner might choose to HODL their non-fungible token until the bull market returns – where increased demand is likely.
Best Platforms for Making Money with NFTs
This guide has discussed eight core methods that enable investors to make money with NFTs. Investors will, however, also need to choose a suitable NFT platform to enter and exit the market.
We found that Launchpad.XYZ is a great option in this regard – read on to find out more about this platform.
Launchpad.XYZ – Best NFT Marketplace
Launchpad.XYZ is a user-friendly NFT marketplace that hosts a growing number of collections. This includes the Lucky Block NFT series, which offers access to lucrative competitions and crypto rewards. The Lucky Block Platinum Rollers NFT collection is also available.
Launchpad.XYZ offers a wide range of other NFT types. This includes everything from digital art and animation to music and games. In other words, there is an NFT collection to suit most investment strategies.
Beginners will also appreciate the simple yet intuitive layout of the Launchpad.XYZ marketplace, which was designed with first-time investors in mind. There is also a handy filter system on this marketplace that makes finding a suitable NFT a seamless process.
This includes metrics surrounding the price range, category, and whether the NFT is an instant or auction-style listing. As a decentralized platform, there is no requirement to open an account to buy NFTs on the Launchpad.XYZ website.
Instead, investors simply need to connect their crypto wallet to the platform. Once a purchase has been made, the underlying smart contract will transfer the NFT to the connected wallet.
Conclusion
There are plenty of options to consider when searching for the best NFT to make money. Investment methods include NFT flipping, HODLing, and even playing P2E games.
Overall, however, we found that the best way to make money on an NFT is to invest in a collection that is newly launched.
This is because the investor will have access to the best price possible and thus – a first-mover advantage.
Tamadoge – a metaverse and P2E game, is about to launch its much-anticipated NFT collection – which will consist of just 21,100 tokens – including 100 that are deemed ‘ultra-rare’.
FAQs
Can you make money with NFTs?
Yes, it is possible to make money with NFTs – but certainly not guaranteed. This is why it is important to conduct plenty of research before investing in an NFT collection. Additionally, a notable strategy is to buy an NFT when the collection is first launched – with the view of benefiting from a preferential cost price. When compiling a shortlist of the best NFT to make money, be sure to diversify across multiple projects.
Can NFTs make you rich?
In a similar nature to cryptocurrencies, some investors have had tremendous success by purchasing and subsequently selling NFTs. A Bored Ape Yacht Club NFT, for example, was available to buy for under $200 when the collection was first launched. This NFT collection has since seen individual sales of several million dollars. With that said, finding the best NFT to make money is no easy feat considering how many collections are active in the market.
How can I profit off NFTs?
There are a variety of different ways to make money with NFT tokens, eight of which have been discussed in this guide. This includes NFT flipping, play-to-earn games, staking, competitions, and HODLing. However, perhaps the best strategy is to buy into a new NFT collection as soon as it is launched. One such option in this regard is the Tamadoge NFT series, which is due to launch in the coming days.
How to flip NFTs for profit?
Flipping refers to the process of buying an NFT and then listing it on an open marketplace at a higher valuation. The only way to profit from flipping is to identify NFTs that have the potential to sell for a more favorable price.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
