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The Truth: Can You Make Money With NFTs?

 Recently Reviewed   on 8 September 2022
Feature image for the blog post "Can You Make Money With NFTs?"

Are you asking yourself: Can you make money with NFTs?

Well, don’t look further because we’ve got all the answers to your questions right here.

In this guide, you’ll not only realize that you can indeed make money with NFTs, but you’ll also learn about how people are making money from NFTs in various ways.

Some of the ways an NFT can make you money will seem trivial but others will most likely blow your mind.

Anyway, let’s not waste time and dive right into the various way to make money from NFTs in 2022.

Key Points (tl;dr)

You can definitely make money from NFTs. Some require work and skill, others do not. Here are 8 ways you can make money with NFTs.

  • Create Art to Sell as NFTS
  • Build a Community Project With NFTS
  • Earn Royalties on NFTS
  • Invest and Trade NFTS
  • License Out the Ip of Your NFT
  • Stake Your NFTS for Yield
  • Provide Liquidity to Earn Yield
  • Rent Out Your NFTS
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Can You Make Money with NFTs?

Infographic answering the question "Can you make money from NFTs?".
Infographic answering the question “Can you make money from NFTs?”.

It’s normal for people to be skeptical of something that’s entirely new and somewhat foreign to them.

Your friend comes up to you and tells you about how he or she has been making a killing with this new thing called “NFTs”.

Chances are you don’t know that NFT stands for “non-fungible token” and you definitely don’t understand what that even means.

However, what if we told you that NFTs are a revolutionary new concept that will not only change the way we define and verify ownership?

What if NFTs unlocked completely new ways of earning income using digital assets which previously only sat idle in some wallet?

Once you understand exactly how NFTs work, you’ll also begin to understand why making money with NFTs isn’t just some pipedream or Ponzi scheme.

You can make money off your NFTs without even creating or selling them.

In these next few paraphs, we’ll tell you all about these new ways of making money with digital assets.

8 Ways to Make Money With NFTs

We currently know of 8 tried and tested ways of making money with NFTs. Some of them require active work, while others fall into the category of passive income stream. However, note that not all of them are free of risk. Always do your own research.

Infographic answering the question "Can you make money with NFTs?" by providing 8 concrete examples.
Infographic answering the question “Can you make money with NFTs?” by providing 8 concrete examples.

NFTs have paved the way for the creation of many new innovative business models.

So before we even get into the nitty-gritty details, in case you’re asking yourself “Can you make money with NFTs?”, the answer is a resounding “Yes!”.

Being able to tokenize assets in a digital form not only reduces the friction of moving these assets from one owner to the next.

It also allows us to use these assets as collateral or to break them up into even more pieces which are more affordable for many people.

In a day and age where the interest you earn on your money is edging closer and closer to 0%, finding new ways to monetize assets is crucial in building your own wealth.

We’ve put together a quick overview of 8 different ways you can make money from NFTs.

  1. Earn Royalties on NFTs
    Creators of an NFT can set a royalty. That means every time the token is sold to another person, the original creator gets percentage-based royalty of the sale.
  1. License Out the Intellectual Property of Your NFT
    If your NFT comes with commercial usage rights, you can license out those rights to anyone who thinks they can create another valuable product based on intellectual property. Imagine the character on your NFT becomes the next Micky Mouse.

Frequently Asked Questions (FAQ)

Before we wrap up, let’s quickly address a few frequently asked questions that many people have in relation to the question: Can you make money with NFTs?

  • Can NFTs make you money?

    If you’re a fairly successful digital artist, then NFTs will have a revolutionary impact on how you can monetize your work and cut out many of the middlemen who dominate the art industry. Also, those who know how to build the future infrastructure of the NFT industry will be able to seize opportunities that most people cannot even think of right now.

  • What is the best way to make money with NFTs?

    The best way to make money in any growing tech-based industry is to simply focus on building products and services that people need and love to use. Being early to revolutionary movements such as NFTs is a critical advantage in today’s fast-paced economy.

Conclusion

Yes, despite the skepticism of many doubters, you can indeed make money with NFTs.

Anyone who bothers to search Google for “can you make money with NFTs” should see this article come up and be convinced in no time.

And as you’ve learned from this guide, there’s quite a variety of things you can do that don’t just involve buying and selling tokens.

So go ahead and get started. Pick the right model for you and start making money off these new digital assets that we all call NFTs!

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