In 2022 so far, spending on non-fungible tokens (NFTs) continues to skyrocket, with over $37 billion already sent to NFT marketplaces. Activity in the NFT space is stabilizing and spending is expected to reach record levels by the end of the year.
There are many people who are making a lot of money with NFTs, and there are still many others who want to get in on the action but don't know how to start yet. If you are one of them, this article will help you learn the most profitable ways to make money with NFTs quickly as a beginner.
If this is the first time you've heard of NFTs, check out our previous article on what NFTs are and if they're here to stay to get an idea of the concept.
How to make money with NFTs for beginners?
1. Invest in NFT Presales or Public sales
Due to speculation and rarity, NFTs have the potential to increase in value, but it is best to get into promising NFT projects early enough before their value increases. As a result, the resale value can be much greater than the initial purchase.
Most of the top NFTs (like the Cryptopunks) to buy currently on various NFT marketplaces could initially be bought very cheaply between $1 and $34, but when the hype around NFTs increased in 2021, they became incredibly valuable due to their leading edge in the NFT space.
2. Flipping NFTs
Generally speaking, flipping is buying low and selling high, aiming for higher returns. The best way to flip NFTs is to buy all available NFTs when they are cheap (NFT projects with a limited quantity of items are more likely to bring you profits). If you buy all the NFTs available when they are cheap, you can resell them for a lot of money. To learn more, see how to flip NFTs for profit.
3. Minting your own NFTs
Yes, you can also make money with NFTs by minting them yourself. Minting an NFT, in simple terms, refers to the process of publishing your digital asset (such as digital art, photography, game items, videos or music) on the blockchain to make it purchasable. Minting NFTs is a relatively simple process, with leading NFT marketplaces like OpenSea or AirNFTs making the process even easier for beginners to monetize their work. To succeed, your digital asset must be unique and original.
4. Play to Earn (P2E) NFT Games
Playing NFT games to make money has become a popular approach, with many interesting platforms such as Splinterlands or Axie Infinity offering a way to generate regular income for experienced players.
Many of the best NFT games now use play to earn features, allowing skilled game players to generate revenue. These rewards are usually in the form of platform-native tokens, which means they can be spent on in-game items or exchanged for FIAT currency on decentralized exchanges (DEX).
How to invest in NFTs
If you are looking to invest in new NFT projects for flipping or if you simply want to buy and sell NFTs, a safe and reliable NFT marketplace can make your job easier.
AirNFTs makes it easy for everyone to get started with NFTs. You can monetize your creative works for less than a dollar on Smart Chain, Fantom as well as Polygon. In addition, minting is extremely easy, and you can choose from a wide range of categories including NFT art, video NFT, NFT music, etc. Moreover, as a non-custodial NFT marketplace, the platform leaves you in full control of your NFTs.
Closing thoughts on the best ways how to make money with NFTs for beginners
NFTs continue to be a major trend that everyone seems to be raving about right now, and there are more NFT use cases yet to be fully explored. There is no doubt that there will be more ways to make money with NFTs in the future. You don't want to miss out.