The crypto community is ecstatic with NFTs of non-fungible tokens, which are the latest and most popular trend in the crypto world, generating a lot of enthusiasm among creators and businesses alike. From companies to celebrities, everyone is keen to launch their NFTs. But like all cryptocurrencies, some NFTs might be worth a fortune while others might not have any worth. To understand how to make money with NFTs, you need to look at how people are making money with NFTs when cryptocurrencies are showing trends upward.
How to make money with NFT by selling digitized artworks?
The most valuable NFT created until now is selling digitized artworks and is the most profitable way to make money with NFT. Even items like music and real estate are good choices for creating NFTs to earn handsomely by selling virtual items. March 11, 2021, was a historic day that changed the world of art forever when Christie’s, the most renowned auction house globally, sold the first fully digital artwork for an astronomical $69 million.
The artwork by digital artist Mike Winkelmann, popularly known as Beeple, created a collage of artwork titled ‘Everyday: The first 5000 Days’. The college consisted of a collage of 5000 digitized tokens that Beeple created over many years.
When buying NFTs, the owner does not get the original artwork but only its digital version and a link to a digital certificate confirming the ownership.
NFT Video game
The adaption of blockchain technology for video games indicates the future of the blockchain seeing wide applications in NFTs. So far, none of the blockchain-based video games could make an impression on the NFT prospects, but there’s tremendous potential for applying NFTs to video games to make an NFT. Gamers are already spending vast amounts on virtual items. The gaming market is worth billions of dollars, and video game companies can explore the opportunity of selling in-game items as NFTs. It’s only a matter of time before the gaming companies capitalize on the potential of NFTs to add a significant revenue stream and accelerate growth. As NFT video game developers are highly ambitious, they can contribute immensely to the evolution of the NFT technology to take it forward.
Selling NFTs
As more and more artists, designers, illustrators, and musicians earn good money by selling NFTs, you might like to know how to sell NFTs. Artists or creators must first convert their creation into an NFT netter known as minting and then choose an NFT platform and a payment wallet. The payment wallet is for digital currency transactions for receiving money and making payments, and the NFT platform is for minting NFTs and selling it. Creators must list their NFT for sale to make the product available to buyers. The rest of the selling process involves some promotional and marketing techniques to attract customers who could buy the products.
Not only should creators know how to make money with NFT, but it’s essential for collectors, too, who can make money like the creators.
