How to Make Money with NFTs in 2023

NFT is the talk of the town. From big brands and small businesses to celebrities and individuals, everyone is excited and ready to enter the race. In 2021 alone, the NFT market will exceed the $12 billion mark, from $162.4 million at the beginning of the year.

Although some are making a lot of money from NFT, there are still many people who plan to use it. If you are one of those people, the beginner's guide to Appy Pie is just what you need to learn how to make money fast with NFT.

Follow these 7 ways to make money with NFT:

1. Create and sell NFTs

A direct and effective way to make money from NFTs is to create and sell them. Yes, you can create and sell anything digital like art, images, videos, memes, resources, etc. as NFT. If you have long creatives, you can monetize all your creatives by selling them as NFTs.

You can create and sell your own NFT collection using platforms like Appy Pie and earn money from your digital assets. You can list your NFT on other markets like OpenSea, Rarible, etc. for a small fee and increase your income.

So bring out your creations, create amazing NFTs or convert your existing digital creations into NFTs using Appy Pie's NFT generator, and sell them for the price you want.

2. NFT Trading

NFT trading is a safe and easy way to make money easily and efficiently. You can buy a collection of NFTs and make a profit by selling them at a higher price.

However, trading NFTs is not an easy task. The trick is to sell them at the right time, which depends on various factors such as what the NFT is, the reason for buying it and if there is any interest in the item. You can do a quick internet search on different markets to find these things. Before you proceed with NFT trading, you should keep in mind that not all NFTs are created equal. Some are worth millions, while others are worth nothing. Therefore, as a seller, you need to focus on each prospect to get more money from resale in the future.

3. NFT loans

One of the best ways to make money with NFTs is to rent them. NFT lending can be a good source of non-cash income for NFT creators and collectors. The interesting thing is that you can use NFT for a long time, without creating new ones. You can borrow your NFT on the game, or any other platform, that allows users to borrow NFT cards. You can also use platforms like reNFT to rent or lend NFTs to others. No need to worry, all NFTs you rent are controlled by smart contracts, but the owner of the NFT has the opportunity to set the loan period he likes and the NFT loan rate.

4. NFT game

NFT-based video games are also one of the most popular ways to make money from NFT. There are games that allow you to buy toys like NFTs and trade them, helping you earn money. However, their numbers are limited now.

With the hype of NFT, there is no doubt that you will see more games in the near future that will allow NFT trading. Another reason why gaming NFTs will grow in the future is that they are more sophisticated, compared to simple digital shopping cards, or even other interactive NFTs such as works of art.

5. NFT fees

Setting up royalties on your NFTs is a great way to ensure you're getting consistent income. With NFT royalties, you can earn money every time your NFT changes hands in the secondary market, which means that you will receive regular income after selling your plan to collectors.

For example, if you set up a 10% royalty on your NFT, you will receive 10% of the sale price every time your digital asset is sold to a new owner. What's more, since this process is all automated, you don't have to force your administration or manually track payments. So set royalties and earn money every time someone buys your NFT.

6. Collection of rights

Convert physical collections to NFTs, sell them, and start making money in no time. Yes, you can store your physical collection as a digital asset on the blockchain and get the same price or a higher price.

Currently, playing cards are the most popular type of collectible NFT. However, brands are slowly joining the NFT bandwagon and their collective capabilities have the potential to make the most of it.

One such brand is the NBA, which recently launched its NFT card collection on the market. Looking at the demand, now is a good time to convert your physical collection into NFTs and put them up for sale.

7. NFT Stakes

NFT staking is another proven way to monetize NFTs. NFT staking means placing or "locking" digital assets into De-Fi smart contracts to generate returns. Simply put, staking is the process of storing digital assets in the form of 'stakes' and assigning them to those who want to keep them, while giving you a reward for your NFT.

You can use different platforms like Kira Network, Splinterleads, Only1 and NFTX to get your NFTs and get free money from them.

The future of NFT is still unknown, but one thing is for sure, it is not just another crypto trend that is passing quickly. NFT is here to stay and has the potential to succeed. To be honest, NFT is still undervalued because of its scope in the field of art and games, however, it is expected to grow by leaps and bounds as more people and homes work decides to enter the game. Now that you know how to make money with NFT and its future, it's time to get started. Use Appy Pie's codeless NFT generator to create your digital art and convert it to codeless NFT. Appy Pie has all the necessary tools to help you create, configure and launch NFTs in minutes. So create awesome NFT graphics using Appy Pie Design's unique app based on NFT artist and start making money.