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How to Make Passive Income from NFTs: A Beginner's Guide

How to Make Passive Income from NFTs: A Beginner’s Guide

What Are NFTs? NFTs, or non-fungible tokens, are unique digital assets that are based on blockchain technology. They can include anything from music, videos, and memes to artworks. Unlike fungible tokens, NFTs cannot be exchanged for another and retain their full ownership. Their uniqueness has attracted many people looking to make passive income from them. There are several ways you can make passive income from NFTs, such as renting them out, staking them, earning royalties, or lending them. However, since NFTs are highly volatile, it is essential to understand the risks involved in each method before getting involved. How to Rent Out NFTs for Passive Income One way to generate passive income from NFTs is by renting them out. To do this, you must list your asset on an NFT marketplace and set the negotiation terms, such as the lease rate and rent duration, as permitted on your smart contract or the platform you are on. Some smart contracts may also require a borrower to provide collateral before entering an agreement. NFTs with multiple use cases have more long-term profit potential than those applicable for just one purpose. Staking NFTs for Rewards: How It Works Another way to earn passive income is by staking NFTs, which requires locking your non-fungible token into an NFT staking platform to gain certain rewards. The reward for the staked NFT depends on the length of the staking period, the platform’s daily or weekly rate, and the number of NFTs staked. To begin staking, you will need a wallet to receive the reward and connect it to the platform you intend to use. Earn NFT Royalties as an Artist or Content Creator If you are an artist or content creator, you may want to know more about NFT royalties, which are the fees or percentages given to content creators each time their works are resold on NFT marketplaces. To earn NFT royalties, you need to get your work minted and register your digital asset on a blockchain network. You can set the percentage you want as interest at every secondary sale. Once your work is resold, the particular fees you’ve stipulated will be allotted to you as royalties. NFT Lending: Put Your Assets to Work Finally, you can also earn passive income by lending NFTs. Some platforms enable NFT owners to submit their assets to get loans from lenders who receive interest as rewards during the loaning period. The lending process puts you in a position where you give loans to other users, and the borrowers must present their NFTs as collateral to access the loans. The value of the NFT used as collateral will also be assessed by checking its prior performance and other factors.While there are many ways to earn passive income from NFTs, it is essential to be aware of the risks involved. NFTs are highly volatile, and their prices can fluctuate rapidly. Therefore, there is no guarantee that the NFT you are involved in will maintain its value over time. Before getting involved, it is crucial to understand the risks involved in each method and do your research.

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¿Cómo crear Tokens no fungibles (NFTs)? - Guía para principiantes

How to Create Non-Fungible Tokens (NFTs) – A Beginner’s Guide

What Are NFTs? Non-fungible tokens (NFTs) have recently become the talk of the town, with their unique identification codes and metadata setting them apart from other digital assets. But what are NFTs, and how do you create one? This guide will answer those questions. How to Create an NFT NFTs are cryptographic assets on a blockchain that cannot be exchanged for each other since they are unique. In contrast, cryptocurrencies are fungible, meaning that each unit has the same value and can be traded for another unit. NFTs often take the form of digital artwork, such as pictures, animated videos, or music, and are usually sold on NFT marketplaces that require cryptocurrency for payment. How to choose Digital Artwork The first step in creating an NFT is to determine what kind of digital art you want to create. It could be an image, an audio production, or even a short video clip. It’s essential to ensure that you own the rights to the media you are using to avoid legal issues. How to choose a Blockchain The next step is to choose a blockchain to store your NFT. Ethereum is the most popular blockchain for NFTs, and it hosts thousands of NFT collections. Solana is a growing competitor to Ethereum, offering faster transaction speeds and lower transaction fees. Flow is another blockchain designed for NFTs and decentralized gaming apps and is popular for sports-focused NFT creation. How to set up an NFT Wallet Once you’ve chosen a blockchain, you’ll need to set up an NFT wallet to store your NFT. MetaMask, Coinbase Wallet, and Ledger Nano X are popular wallet apps that support multiple blockchains. How to select an NFT Platform The next step is to select an NFT platform that offers a full-service marketplace to list and sell your NFT. OpenSea is the most popular platform, with over $20 billion in trading volume since its launch in 2017 and more than two million NFT collections listed. Solanart is a popular platform for Solana-based NFTs, with a slick user interface and an easy application process for minting. Crypto exchanges such as Binance also support NFT creation. How to create NFTs: Final step Once you have chosen a platform, creating an NFT is a straightforward process. For example, on OpenSea, you select your digital wallet and the “Create” option, upload your media file, add NFT features, properties, and blockchain, and then mint the NFT. In conclusion, creating an NFT requires following a few simple steps, such as choosing the digital artwork, blockchain, wallet, and platform. With this guide, you can create a unique NFT that can be sold just like a painting at an art gallery. En conclusión, la creación de un NFT requiere seguir unos pocos pasos simples, como elegir el arte digital, blockchain, billetera y plataforma. Con esta guía, puedes crear un NFT único que se puede vender como una pintura en una galería de arte.

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Kraken se asocia con Williams Racing

Kraken Partners with Williams Racing

Kraken Becomes First Official Crypto and Web3 Partner for Williams Racing San Francisco-based cryptocurrency exchange Kraken has announced its first global partnership deal with Williams Racing, becoming the British Formula 1 (F1) team’s first official crypto and Web3 partner. As part of the deal, Kraken’s branding will feature on the rear wing of Williams cars, driver’s suits, and caps for the remainder of the F1 World Championship Season, starting with the Australian Grand Prix. What This Partnership Means for Crypto and F1 Fans Kraken will also collaborate with Williams to design limited-edition caps for select races and provide pop-up experiences and F1 Fan Zone initiatives throughout the season. Moreover, Kraken users with NFT artwork will have the chance to feature their artwork on the rear of Williams’ race cars during selected Grand Prix events. Leading third-party NFT projects like Bored Ape Yacht Club and World of Women will be featured, among others listed on Kraken’s marketplace. Other Crypto Brands with Active Deals with F1 Teams Although some cryptocurrency sponsorships have collapsed, Kraken joins other crypto brands with active deals with F1 teams. McLaren has partnered with Tezos and OKX, Alpine has a deal with Binance, Haas with OpenSea, and Red Bull Racing’s $150M deal with Bybit, signed in February 2022. Crypto.com also holds naming rights to F1’s Miami Grand Prix. In conclusion, the partnership between Kraken and Williams Racing offers fans cutting-edge crypto and Web3 experiences while providing Kraken the opportunity to reach new institutional clients and businesses through Williams Racing’s network and events. En conclusión, la asociación entre Kraken y Williams Racing ofrece a los aficionados experiencias de cripto y Web3 de vanguardia, al mismo tiempo que brinda a Kraken la oportunidad de llegar a nuevos clientes institucionales y empresas a través de la red y los eventos de Williams Racing.

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Which are the largest NFT marketplaces?

Once we know the basic differences to decide the ideal type of NFT Marketplace for each buyer, it is best to know some of the best positioned platforms. This is the top 2021 of the NFTs marketplaces.

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Coinbase prepares its own NFT Marketplace

Coinbase is preparing its own NFT’s trading platform

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