How do you make money with NFTs?

[danherbias07]

I'm playing NFT games. That's how I make free money before without investing.
AlienWorlds project which was play to earn had some good days before. You can mine like 20-30 TLM per day valued at $0.5 each. But the dump happened and investors snuck out, making the value lesser and now the mining capability got low. Good old days.

Right now I just invested some money in MyDefiPet project (Axie like game) hoping the value could soar one day. Fingers crossed.
Bought DPET coins at $0.4 and now at $0.8 each.

[Abiky]

I think that this article will give you a complete explanation about the example of how people were making their money in the crypto currency

https://www.cnbc.com/2021/05/14/people-in-philippines-earn-cryptocurrency-playing-nft-video-game-axie-infinity.html

People earning, selling and buying NFT. If the platform has a solid product and NFT can be trader just like weapon, char, land and various things and you can earn money from this.

It's a wild and crazy world we're living these days. Who would've thought creating a "meaningless piece of art" (no offense intended) would sell into millions of dollars (USD) in an instant? As much as I'd love to make money with digital arts or paintings, I'm not quite familiar with graphics design. In-game items and other digital collectibles would be a much more suitable option for me. I think games with NFTs is where the money's at. What's stopping this from happening is the Blockchain's limited transaction throughput. If blockchains were infinitely scalable, then creating and selling an NFT would be a no-brainer. At least, the idea is there. Making it a success is another story. Just my opinion

[Silberman]

Honestly, I wanted to make my own NFT, but I haven't had time to put the concept into it yet. why don't you start by making NFT with your skill or hobby? I think it's easier to be creative in making NFT.

if your NFT is unique, it will earn you money later on.

This is not as simple as you may believe, you can make your own NFT if you want but who is going to pay for it? The craze for NFTs has died down very quickly as it is something that could not have any future as you gain nothing by buying the NFT, most NFTs did not gave you any kind of real ownership over what was being sold, this is similar to the case of an invisible sculpture being sold, which is not invisible it is nonexistent and yet people paid a lot of money for it.

[dataispower]

The NFT is a very big field in the Blockchain space, it goes beyond artists alone, they have NFT tokens you can trade and make good profits. I think if you ask me several times how I'm profiting from NTF, I can only say trading their traditional tokens. Like Bake, CHZ, Traias and many of them that have good reputable use cases. However, most NFTs are ERC-71 Tokens so ERC fees don't have much impact on their usability.

[devil2man]

actually the fees on the eth blockchain in my opinion remain high so creating and moving / selling nft does not produce much profit, but an alternative there it is you can use the nft on the wax blockchain where the fees for creating and transferring cards are really low you can have a look here https://wax.atomichub.io/market

[hatshepsut93]

You make some art, mint an NFT of it and hope it will sell. But most of NFT's aren't actually being bought. Those who can reliably make money off it are celebrities or owners of some existing popular content, like meme pictures or viral videos. Also, there's a theory that a lot of NFT trades are actually money laundering, so you shouldn't feel like you're missing out on easy money.

Some people would say that you can buy an NFT and sell it higher, but IMO that's a stupid idea - there's no way to objectively calculate how much an NFT could cost, this market is driven by hype, and you can easily end up bagholding a useless token.

[poodle63]

Just create your own unique NFT, there are many NFT minters available that doesn't require technical knowledge about the
standard NFT token protocol and if you have free time you can create some random art and put it in the marketplace,
who knows someone might be interested, and tbh, i'm interested in making some kind of picture for blog posts, etc.
 just taking a photo from the surrounding environment and gonna post it in internet, i'm sure that's the best way to make money in NFT for today.

[Woodie]

I've seen people making millions of dollars selling NFTs on popular blockchain platforms. Things that were thought to be worthless are now worth a ton of cash. While all of this sounds great, it's not easy to create a unique NFT that would gain demand on the market.

All I can say is art is strange to say the list,  you have to see things from an artist 🎨 eye otherwise you won't appreciate things the say way these guys do.

High gas fees on the ETH blockchain, makes it unprofitable to sell NFTs on it.

Fees are nolonger an issue, fees are now low and competitive to use for everyone.

Binance Smart Chain would be a better choice, but mainstream adoption on the platform is still low these days (when compared against Ethereum).

It's strange how things happen, if nft were to be on the BSc chain... chances are that NFTs would never have been popular either, but it happened on the eth blockchain.

[mobtc]

When NFT first came out, I still didn’t understand this concept. What I knew was that some people used their artworks to auction millions of dollars on NFT.
For us ordinary people, we don’t know how art is. How about participating in NFT?

[Ghondronk]

NFT is not one of the tokens which we see usually in the world of crypto. These are unique tokens which may include a digital signature, video, image, etc. In most of the cases, there can only be one of those and will never generate anything similar to that. So once it is bought at the auction, if it is a rare piece, then the value starts to get increased day-by-day.

[Tessnik]

The NFT market is a new technology in the blockchain that requires technical knowledge and high energy consumption, but again the NFT allows for the rewards of artwork and gainfully employing many artists to get paid for content creation.

[forexandcryptoauditor]

I had the same question a couple of weeks ago. After doing some research, found that it no game for the people who are not artists. I tried doing something as newbie with opensea.io. my first collection is still waiting for approval:)

[fvb]

As they say, how many people, so many opinions. I heard about it but did not attach any importance. Created memes and gifs, but that's just for understanding. Now, after reading all the opinions, it became interesting and I will study.

[ubercool]

There are many games where you can earn NFTs by playing regularly and you can sell them when the game gets famous or when it's coin gets listed on an exchange. Rplanet is getting popular these days with its staking feature and sales.

[Abiky]

You make some art, mint an NFT of it and hope it will sell. But most of NFT's aren't actually being bought. Those who can reliably make money off it are celebrities or owners of some existing popular content, like meme pictures or viral videos. Also, there's a theory that a lot of NFT trades are actually money laundering, so you shouldn't feel like you're missing out on easy money.

Some people would say that you can buy an NFT and sell it higher, but IMO that's a stupid idea - there's no way to objectively calculate how much an NFT could cost, this market is driven by hype, and you can easily end up bagholding a useless token.

Making with money with NFTs sure is tricky. As you've said before, not everything will sell on the market. It's all based on luck more than anything else. My best bet would be to buy and sell in-game items and certain digital collectibles. But even so, the risks of loss would be a lot higher than investing into cryptocurrencies directly. I'd give the industry more time until it matures enough in the mainstream world. NFTs are still fairly new and unknown to many people around the world. With due time, the market will decide which NFTs stay and which will go down the drain. Who knows how far NFTs will go as governments devise new regulations that could either stimulate or stifle its growth? Just my opinion

[cheezcarls]

If you are good in art, animation, designing, music or so, you can simply convert them into NFT and sell in the market. However, I certainly believe that collectible-type NFTs with no special use cases are going to have little or no value at all in the next few years.

If you want to make money with NFTs, better start off with blockchain gaming. Axie Infinity is one good example where each Axie is an NFT and you can earn money in the form of SLP (Small Love Potions) for your time either in adventure or PVP. However, it is expensive now to buy an Axie team that is averaging between $1000 to $2000.

There are other blockchain NFT games you can play such as Blankos Block Party, My DeFi Pet, etc. The possibilities here are limitless with NFTs that are having real or special use cases rather than just being a collectible.

[btcashback]

Looks, now NFT market it is only 2 huge directions.
1. Art
2. Game

Let's check the art. Man, do you really think that cryptopunks is an art  ?

Lets' check the games. It is much more interesting story. Let's see deeper. Man, what the real value of the sword outside of game?

So the NFT technology at the moment it is nuclear station that using with ultra low energy conversion efficiency.

It is not exist the strong market based strategy to make profit on the NFT. It is a 100% mix of licky & hype.

The chance to earn on the NFT now is exist. It is exist for famous desiners like Beplee )).

We develop the strong solution based on programmable NFT that is include the value of the real world that available to measure.

So if you are interesting to manage the cash flows in the form of NFT & develop yourself & decrease a risk to zero since the U.S. SEC point of view than meet the BookOcean please. It is U.S. SEC friendly & antifragile NFT project for eBook & Audiobook market with US$36 billion in size.

[nikita2020]

I made few transactions on erc20 network today. Price was much lower that earlier. Not low enough, agree.

Yes, now the transaction fee on the ERC20 network is very low, so there is no need to worry about it and complain about it again,
because it is clear that the fees are very cheap nowadays.

For any platform with NFT, you need liquidity to create a need for NFT and they have been actively developing. This requires advertising and promotion. For example so https://twitter.com/100XCoin_/status/1406019367352082432

[SaShiRaJaVu]

~
Making with money with NFTs sure is tricky. As you've said before, not everything will sell on the market. It's all based on luck more than anything else. My best bet would be to buy and sell in-game items and certain digital collectibles. But even so, the risks of loss would be a lot higher than investing into cryptocurrencies directly. I'd give the industry more time until it matures enough in the mainstream world. NFTs are still fairly new and unknown to many people around the world. With due time, the market will decide which NFTs stay and which will go down the drain. Who knows how far NFTs will go as governments devise new regulations that could either stimulate or stifle its growth? Just my opinion

So basically it is based upon luck and there are hundreds of projects popping up to take advantage of the NFT hype and i seriously have no idea which project to look and it looks like the old ICO market where every project claims to be the best market for NFT, the only advantage i see is that the artist can sell their artwork without the help of a huge promoting company.

[RealMalatesta]

Making with money with NFTs sure is tricky. As you've said before, not everything will sell on the market. It's all based on luck more than anything else. My best bet would be to buy and sell in-game items and certain digital collectibles. But even so, the risks of loss would be a lot higher than investing into cryptocurrencies directly. I'd give the industry more time until it matures enough in the mainstream world. NFTs are still fairly new and unknown to many people around the world. With due time, the market will decide which NFTs stay and which will go down the drain. Who knows how far NFTs will go as governments devise new regulations that could either stimulate or stifle its growth? Just my opinion

These days people can do things with NFT and that is the trick here, sure it is still not guaranteed income and you could still lose money, but it is still different. Back in the day people bought NFT and sold NFT and that was it, you had to always find new people to come in and buy from the old investors and you can do that for a while but not forever, no NFT project could find new people constantly.

With this new thing, I have seen NFT card games, like the pokemon card games we used to play as a kid, and with it you do not need new people, people who you have in community will keep buying cards and play with it all the time, and that is the trick here, just keep the same people excited about playing and that NFT will make some money to some people. It is still not a sure thing and most of them fails but it is at least something that is different and better.