How to make Money with NFT

Do you know that you can make money with NFT? The recent global rise of Non-fungible tokens (NFT) has changed the way people make a fortune from the digital world. When you understand how to create an NFT, list, and sell them on different platforms, you will be on your way towards making a huge passive income.



Most people have become overnight millionaires because of the creative digital artwork that they sold as NFT. So how can you make money with NFT? In this article, you will learn how to make money with NFT.

What is NFT?

An NFT simply means Non-Fungible Token in full. It is a specific unit of data that deploys technology to enable digital content such as images, videos, and songs to be registered and validated on any cryptocurrency blockchains.



The primary blockchain technology mostly used for NFT operations is Ethereum. With this cryptocurrency blockchain technology, artists can easily make money by selling their digital content. Once the digital content is sold, the buyer automatically becomes the owner of the content.

What does NFT Stand for?

NFT stands for Non-Funigble Token. This simply means that a digital asset can belong to a particular person. No matter who comes in contact with this digital piece, the original owner will always receive credit for it.

Is NFT Legit?

Non-Fungible Token is a 100 percent legit source of income in this era. However, anyone can create and own NFT. This implies that the NFT technology can be accessible to all. Hence, genuine and fake investors can venture into the NFT trade without restrictions. As a result of this, many fraudsters are seriously taking advantage of the technology to defraud people.



Sometimes, some groups of influencers are highly paid to promote fake NFTs. So, if you are not careful, you may end up becoming a victim of an NFT scam. How can you avoid NFT scams?



To be on the safer side, you should always complete any transaction in verified crypto-based platforms. Scammers will always attempt to lure you to fake websites with too good to be true offers. You should be smart enough to spot any scam before it actually gets to your pocket.

Is an NFT a Cryptocurrency?

Non Fungible Tokens are completely different from cryptocurrencies. An NFT is a digital asset that can be bought and sold using any type of cryptocurrency. When NFT first emerged, Ethereum was the only cryptocurrency that was used as an exchange for these digital assets.



However, other cryptocurrencies are slowly accepting the technology and allowing its holders to use their coins to purchase an NFT. Since NFTs can be exchanged at a coin equivalence, it is a sample to be unique and totally different from cryptocurrency.

How to invest in NFT?

Investing in NFT is a step that will take you into the future. Since the idea of NFT is new on global trends, you may consider investing now to take advantage of this life-changing opportunity.



How can you invest in NFT? Follow these procedures to learn how to invest in NFT.

Do your Research on NFT

The first bold step you should take is to conduct research. Before investing in NFT, you should note what type of digital asset you should consider first. Since NFTs can exist in the form of images, videos, or songs, you should do your findings to make up your mind before making a purchase.



Websites like NFTcatcher.io, or Rarity.tools are designed specifically to guide NFT investors towards the right investment paths. These platforms often display a list of upcoming Solana and Ethereum NFTs which will dominate the NFT market in the future.



From the provided information, you will discover every detail about the upcoming NFTs including sales date, number of NFTs to be sold, and cryptocurrency used to complete the transaction. You will be guided towards the right path with this information.



As an NFT investor, you should verify the team behind the upcoming NFT. You should also determine the exact type of NFT before putting your money at work. Sometimes, the NFT may come as on-chain.



In other circumstances, it comes as off-chain. Note that off-chain prefers to utilize centralized services which may misplace the image when the server is interrupted. Hence, you should know everything about the NFT before taking the next step.



You should get closer to the team, join their telegram group and learn everything about their upcoming project if you want to become a successful NFT investor.

Choose an Exchange To Complete your Crypto Purchase

You cannot purchase NFT directly with your cash. Hence, you need to buy the cryptocurrency that will enable you to buy the NFTs without much stress. The commonly used cryptocurrency often used to buy NFTs is Ethereum.



But other cryptocurrencies have made it possible for NFT investors to purchase their desirable NFTs without stress. But you need to select a suitable exchange or brokerage to execute your transactions without error.



Who is a brokerage? A cryptocurrency brokerage is a company or an individual that stands as the middleman to investors. The brokerage also provides a platform for buying and selling cryptocurrencies.



Hence, crypto buyers and sellers often use a particular exchange to trade their coins for a given price. Note that many brokerages out there will convince you to invest in NFTs through their platforms.



For safety and quality transactions, select only reliable and trusted brokerage or exchange. Gemini, Coinbase (NASDAQ: COIN), Binance.US, or Robinhood (NASDAQ: HOOD) are some of the most reliable and trusted brokerages to deploy while investing in NFTs. Each of these brokerages has suitable terms and conditions.



As an NFT investor, you are meant to read these conditions to ensure that they are favorable to your investment plans and decisions. Note that these platforms will charge you a certain fee before allowing you to buy an NFT.



To be specific, Coinbase charges about $0.99 when the trade is $10 or less. Keep in mind that these charges can increase depending on your transaction at any given time.



The essence of finding an exchange is to enable you to convert your money into cryptocurrencies. You can buy as many coins as possible, depending on the price of the NFTs you intend to buy.

Choose a suitable Marketplace to buy your NFT





Once you are satisfied with an exchange platform to work with, proceed to find a favorable NFT market that will bring your vision to reality.



Keep in mind that the NFT marketplace is where you will either purchase or sell your NFTs. As an NFT investor, endeavor to find a suitable marketplace free from scams. The marketplace should also guarantee your safety while making your NFT transactions. Keep in mind that every NFT marketplace has its own unique crypto wallet.



The marketplace will determine how to sell any specific NFT to investors. The two methods commonly deployed by these marketplaces to sell NFTs include flat rate or auction. As an investor, you should conclude on the options that work best for you.



The most popular NFT marketplaces you should consider include OpenSea, Rarible, Larva Labs, Axie Marketplace, and NBA Top Shot Marketplace.

How to Make Money with NFTs

If you are already excited about NFTs, you will surely become more excited when you discover various ways to make money from them. Millions of people are already fascinated with the idea of NFTs.



Hence, more investors are considering investing in NFTs and purchasing more digital assets for future investments. So how can you make money with NFTs? You can make money with NFTs in the following ways.

Rent out your NFT

Most investors on this emerging technology are making a fortune by renting out their NFTs for a duration. However, you must own the NFT before renting it out. If your NFTs are engaging, people that don’t have enough cryptocurrency to purchase them may consider renting them out for a short period.



Renting your NFTs is similar to renting out any of your properties. People can pay a certain amount to use it and return it when the due date is over.

Designing your own NFTs and selling them to Investors

Anyone with creative skills can create digital assets. Hence, if you have the required skills to create unique NFTs, you may consider creating such an asset and sell them off to investors willing to pay a certain fee for it.



Whichever NFTs you want to create, you must ensure that your content is of a high standard. This act will enable you to attract high-paying investors and top influencers to promote your NFTs and help you grow in return.

NFT Royalties

NFT Royalties are regarded as the best ways to make more money with NFT. Selling your NFT Royalties simply means that your investors can own and receive a smaller percentage of the NFTs in the future.



Hence, they will always receive a small amount whenever a purchase is made.

Stake NFTs

NFTs staking is a unique way to generate passive income with NFTs. When people purchase your NFTs at a greater price, you will receive a payment for this purchase.

Purchase cheaper NFTs and resell them for a greater price

This strategy is like buying a cheaper product and reselling them for a greater profit. When potential NFTs are newly launched, the creator often lists them with less price to attract early investors.



If you are lucky enough to purchase at the initial stage, a time will come when you sell off the NFTs at a higher price.

NFT Development





You can participate in the NFT development scheme and generate a passive source of income in the future. Since NFTs run on blockchain technology, you can have a great interest in this technology and see how you can develop your own NFTs from it.



This earning option is most suitable for programmers who have a deep understanding of blockchain technologies.

How to buy NFTs?

Learning how to buy NFTs is a unique technique that requires maximum focus from the investor. You must carefully analyze all the risk factors to ensure you are on the right track. So how do you buy NFTs? When you consider purchasing NFTs, endeavor to follow these procedures?

Purchase a cryptocurrency

The first step you should consider is to buy a cryptocurrency. Most investors prefer to buy Ethereum as it stands to be more effective in buying NFTs. Keep in mind that most NFTs are created to be Ethereum-based tokens.



Hence, most NFTs marketplaces accept mostly Eth tokens as their official payment. To ensure you are in the same phase with NFTs marketplaces, buy mostly Ethereum coins for your NFTs investments.



If you are not into cryptocurrencies before, visit any popular exchange such as Coinbase, Binance, eToro, and more to exchange your cash with Ethereum coins.

Connect your MetaMask account to any Suitable NFT Marketplace

Once your Ethereum coins are ready, your next step should rely on selling your NFT in any suitable marketplace. Keep in mind that there are several NFT marketplaces to purchase your digital asset.



All these websites have policies that every NFT investor must abide by. MetaMask is a platform built as an Ethereum wallet. It is made available as a Mobile app and chrome extension. Create an account on this before signing up with an NFT marketplace.



Any NFT marketplace will request an Ethereum wallet to make the process less complicated. It is also advisable to connect your MetaMask to a Ledger hardware wallet. This will give your account maximum protection and protect it from any cyberattack.

Purchase your NFTs

Once your account setup procedure is completed, proceed to your NFT. Keep in mind that most NFT marketplaces often sell NFT using an auction format. Hence, you will have to submit a bid for any NFT of interest.



Keep in mind that there are primary and second NFT marketplaces. The primary marketplace makes it challenging for investors to calculate the demand for a digital asset. But a secondary marketplace makes it much easier for investors to compare the current prices based on the previous sales.



Once you have a clear understanding of the market, you can make a successful investment in NFTs.

How to make NFT

Anyone can make NFT as the process involved in creating one is simple. Follow these procedures to make an NFT.

Select your content

NFT can exist as any digital asset including images, music, games, and many others. So you should carefully select the item you want to create and focus all your energy on bringing it to reality.

Select your blockchain

You have to find a suitable blockchain Technology that will enable you to bring your digital assets to life. Keep in mind that the blockchain technology that you choose will determine the success of your NFT.

Create your digital wallet

Once you have made up your mind on blockchain Technology, your next target should be on creating a digital wallet. The best NFT digital wallets include MetaMask, TrustWallet, MathWallet, Coinbase, and AlphaWallet. Choose any of these wallets and register with them.

Find your NFT Marketplace

After you must have completed the entire process, endeavor to find your NFT Marketplace. OpenSea is a great NFT Marketplace to start as a beginner. Professionals also earn a living from the Opensea Marketplace.

Connect your Digital Wallet to your marketplace

Once you must have selected an NFT Marketplace and digital wallet, proceed to connect the two together.

Upload your NFT File

After completing the registration process, you should conclude this process by uploading your file and placing it before investors. The NFT Marketplace which you choose will provide a step-by-step approach on how you should upload your NFT.

Set up your prices

Before your NFT is ready for minting, you should conclude on the prices to avoid complicating issues among investors. The pricing also depends on the platform and its terms and conditions.

How to Make NFT for free?

If you want to make a free NFT, you should get ready to deploy some creative approaches towards making your dreams a reality. When considering how to make NFT for free, you should consider following these procedures.

Create digital art

The first step is to prepare the digital assets to launch as an NFT. Once your digital assets are ready, proceed to create a digital wallet.

Create an account with MetaMask

MetaMask is one of the best Ethereum based digital wallets to create. Since MetaMask is a free browser and mobile app-based platform, you can create an account for free here.

Join OpenSea marketplace

Setting up your platform on OpenSea is completely free. However, the marketplace often charges 2.5% of seller fees which you will be required to later in the future.



You will likely pay this 2.5% commission when investors begin to purchase your NFT. But since your target is to create NFT for free, focus on minting an NFT collection on OpenSea. Proceed to create your first NFT collection and earn from this.

List your NFT for sale

After creating your NFT collection on OpenSea, the next step is to list your NFT for sale. Remember to set the price to guide your investors accordingly.

How to create an NFT art

NFT arts are digital assets that will determine your success in the NFT marketplaces. How can you create NFT art? You can create an NFT art following these procedures.

Choose a suitable NFT Marketplace

The first step you should consider is to select a favorable NFT Marketplace to work with. Most Professionals in the NFT market have revealed that OpenSea is the best NFT Marketplace to choose. Visit the platform and see how you can work your way through.

Create your digital wallet

When you are satisfied with the marketplace, find a suitable digital wallet to open. MetaMask is one of the best digital wallets to work with while creating NFT arts.

Set up your NFT collection

There are many NFT collections you should consider. You should know the category that your digital assets belong to. Note that you have to configure your collection with a unique name. This name should be engaging enough to attract NFT investors to your collection.

Design your Digital Art Token

Once your NFT collection is set up, you will begin by creating your digital art token. In this stage, you should click on the Add New Item icon. This action will take you to a page where you will upload your metadata.



The data which you are allowed to upload can be images, audio, or any other file. You can also decide to create a standalone token or the edition token. Your choice must be clearly defined if you hope to succeed on this platform.

List your artwork

The next step is to list your creative artwork to sell. When you are listing for the first time, the marketplace will demand a glass fee from you. However, you may not have to pay this fee while listing your artwork in the future.

Attract more attention to your NFT listing

After listing your artwork, you have to promote it across all social media platforms to attract investors. You can pay influencers with big NFT telegram channels to promote your artwork before thousands of investors.

How to Mint NFT (What is NFT Minting)

NFT minting is a process that determines how your digital art will become an essential part of Ethereum blockchain technology. This implies that NFTs exist as tokens and are created once they are minted. So how can you mint NFT?

Find the create button

Once you land on the NFT Marketplace, you have to find the create button. Once you hit this button, you will be taken to a page where you should upload your NFT.

Upload and Mint your NFT

Every marketplace has a unique format for minting NFT. Hence, as you upload your NFT in the marketplace, ensure that it is minting according to the rules of the platform.

Finalize the process

The last minting process is to click on create an icon. This action will enable your NFT to be created on the marketplace. At this point, you should keep in mind that no NFT investor will see your NFT to buy. Hence, you still have to list your NFT so that people can identify it and complete their purchases.

How to Buy and Sell NFTs

When it comes to buying and selling NFTs, you have to train yourself on how to master the process. If you want to succeed in the NFT marketplace, you must understand the process.
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