What is Staking NFT?

In the launch and strategies of NFT marketing A very useful resource is NFT Staking, which in basic terms consists of a method to obtain passive income without the need to sell NFT collections.

In more technical terms, a NFT Bet consists of blocking NFTs on a platform, which allows you to receive rewards based on APY, the duration of the Staking or the amount of NFTs wagered. In this way NFT holders can earn passive income on their collections.

Due to the nature of NFTs, in many cases based on speculation, NFT Staking represents for many investors a monetization opportunity and in terms of NFT Marketing, the ability to boost demand for certain NFTs.

The mechanism of NFT Staking is the same as the stacking of Bitcoin or ETH. Blocking NFTs allows users to receive rewards based on annual performance. The NFT bet can benefit investors who are experts in speculation, since there is a smaller supply that eventually tends to amplify, and generate new applications for use beyond collecting.

The NFT Staking scheme is specially developed to be applied in P2E games, which are gamified tokens that are designed to develop in phases and provide different benefits to users.

How does NFT staking work?

The blockchain protocol locks the funds in a betting platform and randomly chooses the validators that will be in charge of mining the transaction blocks, this consensus protocol is known as «Proof Of Stake» the more the participant commits, the higher his threshold to win.

The minting tokens is completed every time a new block is added to the chain, these new tokens are distributed as a reward for staking.

In the Skating for Cryptocurrency scheme, holders make their assets work for them in exchange for rewards or passive income. The PoS protocol secures and confirms user transactions. The case for Staking NFTs is operationally the same, as users can lock their NFTs on dedicated platforms and receive rewards based on Annual Percentage Yield.

Although Staking is an effective resource for NFT-Marketing, not all NFTs can be staked in this scheme. Each NFT project has different qualities and requirements.

Knowing if a Token is a candidate to integrate Staking into its NFT-Marketing strategy, is essential to define the tactical route necessary to make it grow. If you have questions regarding NFT Staking and would like advice on how to integrate it into yourGamifiable NFT Project, write to us.