How to make money with NFTs? We explain how to purchase NFTs and tips for making money that even beginners can understand!

In recent years, NFTs (Non-Fungible Tokens) have been attracting attention. NFTs are becoming increasingly popular, especially among creators and investors, as a new way to own and trade various digital assets such as digital art, music, and game items.

This article explains how to make money using NFTs for beginners. We will introduce a wide range of information, from basic knowledge about NFTs to specific ways to make money and tips for success, so please read to the end.

What are NFTs?

NFT is an abbreviation for "Non-Fungible Token" and refers to a unique digital asset created using blockchain.

Common crypto assets (virtual currencies) such as Bitcoin (BTC) and Ethereum (ETH) are interchangeable and have the same value, so they are considered "fungible," but NFTs are called "non-fungible" because each has a different identity and value. NFTs are used in a variety of fields, including art, music, game items, and real estate.

The current state and future prospects of the NFT market

The NFT market is expanding rapidly, reaching a multi-billion dollar scale in 2021. Major NFT platforms include OpenSea, Blur, and Magic Eden, which trade art and gaming items. Demand for NFTs is particularly high in art, games, and the metaverse, and is expected to continue to grow.

Create and sell NFT art

Anyone can easily issue NFTs, so you can make money by creating and selling your own NFT artworks. Try listing your own work on platforms such as OpenSea or Blur. NFT art can be a new source of income for creators, and you may even receive royalties when traded.

Earn money with blockchain games (Play-to-Earn) 

In blockchain games, players can trade items and characters they have acquired in the game as NFTs. In games such as Axie Infinity and The Sandbox, players can earn revenue by buying and selling NFT items they have acquired by actually playing the game.

Some games require an initial investment, while others can be started for free, so it is important to choose the game that is right for you.

Trade NFTs

There is also a strategy to make a profit by buying NFTs cheaply and selling them at a high price. Market analysis and trend identification are important, and joining an Arrow List (AL) and aiming for priority purchases is also effective. NFTs of particularly popular projects and artists may be able to make a large profit through buying and selling.

Earn money through staking and lending 

You can earn rewards by staking NFTs. This is a new revenue model that combines DeFi (decentralized finance) and NFTs. In addition, there are an increasing number of lending services that lend NFTs and earn interest. This makes it possible to earn revenue while holding NFTs.

Making money with NFT metaverse and digital real estate

In metaverses such as The Sandbox and Decentraland, you can own NFT-ized land and make a profit by renting or selling it. This land, which can also be called "digital real estate," has the potential to become an important asset in the digital space in the future, and early entry could provide a huge return.

Earn money with NFT airdrops and campaigns 

You can get NFTs for free through airdrops from new projects, and then buy and sell them to make a profit. You can also aim for airdrops by participating in communities on social media. This makes it possible to get NFTs without having to invest any money.

What you need before buying and trading NFTs 

In order to purchase and trade NFTs, you will need MetaMask or Trust Wallet, etc. You will also need to have the cryptocurrency necessary to purchase and trade NFTs.

How to register and buy on the NFT Marketplace

To buy and trade NFTs on an NFT marketplace, you will need to create an account on a platform such as OpenSea or Blur.

First, connect your wallet to an NFT marketplace such as OpenSea or Blur and select the NFT you want to buy. Then, click the buy button and pay with the required cryptocurrency to get your NFT.

How to safely manage your NFTs

To safely manage your NFTs, you need to be careful of scams such as phishing. There has also been an increase in cases of wallets being hijacked and NFTs being stolen.

To protect yourself from such damage, consider using a hardware wallet as a security measure. It is also important to understand how to identify trustworthy projects and minimize risks.

Spot the trends

The NFT market is constantly changing, so it is important to research popular NFT projects and the latest market trends. Use social media (X, Discord, Telegram, etc.) to gather information.

Join the community and stay informed

The key to success is to join the community of famous NFT projects and aim for the allotment list. Through information exchange and networking within the community, you can find better investment opportunities.

Managing the risks of NFT investments

The NFT market, like cryptocurrencies, is highly volatile, so it is important to invest with surplus funds. Consider a strategy of short-term resale and long-term holding and find an investment style that suits you.

There are many ways to make money with NFTs, including art sales, resale, games, the metaverse, and airdrops. Recently, it has become easier for even beginners to buy and trade NFTs, but prior research and risk management are important.

By taking a long-term view of the NFT market, it is possible to aim for continuous profits. If you are even slightly interested in NFTs, give it a try in a style that suits you.

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