9 Ways To Turn The Upcoming NFTs Into Cash
Non-fungible tokens (NFTs) hold the promise of unique digital ownership, and they’re not just for artists and collectors. Discover nine innovative ways to make money with NFTs, from crafting your own to strategic investments. Minting, renting, staking, and investing are just a few methods to turn upcoming NFTs into cash. Let’s find out the details!
Upcoming NFTs and How to Cash Them?
NFTs represent digital content that may even be attached to a physical asset. The ownership details, its selling, trading, and any other event related to the NFTs are recorded on its particular chosen blockchain.
- “Rich People Yacht Club” NFT collection – Sep 03, 2023
- Baby Monster – Aug 19, 2023
- Catskull – Aug 19, 2023
- The Wierdos – Aug 20, 2023
- Boop Pop – Aug 21, 2023
- Crypto farm – Aug 22, 2023
- Luviano Journeys – Aug 23, 2023
- Turf NFT – Aug 24, 2023
- BubbleFlow – Aug 25, 2023
- Frank and Pank – Aug 30, 2023
- SZN One – Aug 31, 2023…
Taken from nftcalender.io.
How to Cash NFTs?
1. Minting and Selling
Minting your upcoming NFTs and selling them is similar to minting your cryptocurrency. The process comes at a small cost (Between less than $1 to $1000). Pioneering NFT marketplaces provide the platform for these gems to shine, connecting you with potential buyers. However, remember that the cost varies depending on the network congestion, the platform, the listing fee, and other possible transaction costs.
Pro tip: Promoting your creation on social media is key to making it in demand. Let’s not forget that there are tons of millions of nearly identical NFTs on marketplaces so yours has to stand out.
The first step to minting your own NFT is to create a digital file of your art in an image editing software like Illustrator or Photoshop. Once the file is ready, upload it to an NFT marketplace like OpenSea, Foundation, or SuperRare.
Make sure you have a digital wallet with some cryptocurrency as an initial investment. Connect the Wallet to your chosen NFT marketplace and choose how you want your NFT to be sold and name a price. Once your NFT is sold, you will receive crypto from the buyer on your digital wallet while the buyer’s wallet will receive your NFT.
2. Trading
Steer your way through NFT trading much like stock exchanges. Hunt for undervalued upcoming NFTs with the potential to rise in popularity, then sell them at a profit once their value soars. Mastery lies in identifying trends that elevate certain NFT collections above the rest.
Remember that you can buy an NFT with another NFT or a crypto coin so make sure your chosen exchange supports this transaction. NFT trading is safe as long as you do thorough research on it. Deep knowledge of cryptocurrency exchanges is an added bonus here.
3. Renting
Some NFTs find their purpose in games and niche platforms. Rent out your NFTs to gamers or enthusiasts in exchange for a fee. These smart contract-backed arrangements ensure seamless transactions, with the NFTs automatically returning to the owner after use. Beware of bugs though.
These rental agreements on the blockchain are governed by software programs called smart contracts. Rented NFTs won’t come back automatically if you have been infected with a software bug in the contract.
4. Playing and Earning with P2E NFT Games
Enter the realm of play-to-earn (P2E) games, where playing translates into earning crypto. Engage in games with built-in cryptocurrency mechanics, collecting NFTs as rewards. These in-game treasures could become valuable collectibles to trade, but tread carefully, as the landscape can be volatile.
These are unpopular generally compared to other multiplayer online games because it may take a long time for the game’s NFTs to gain value. Plus, these NFTs can be potentially worthless if the developer stops supporting the game.
5. Royalties
Embed royalties codes into your NFT’s smart contract, ensuring a cut every time it changes hands. NFTs being traded frequently are ideal candidates for this strategy, offering you a slice of every future sale. Most marketplaces cap the royalty at 10{4ff670bb91f5a71bed27471ead6462c9b16f5bdce5956c8330f96255c052ee42}.
6. Licensing
Turn physical collectibles into upcoming NFTs by minting their NFT versions. Trading cards and unique items become tradable in the digital realm, but competition lurks; your NFT’s worth relies on convincing buyers yours is the genuine article. Because there may be other NFT versions of the same article in other marketplaces or blockchains.
7. Staking
Extend the concept of crypto staking to NFTs. Stake your NFTs on selected platforms to reap rewards. Though still new, this strategy provides a potential stream of native tokens based on the staking platform’s success. The rewards you get will be the platforms’ native tokens whose value depends on their popularity and utility. So remember that the real staking rewards from NFTs can vary widely even if the stated annual percent yield (APY) is high.
8. Betting
Invest indirectly in upcoming NFTs by backing companies entwined with their success. Purchasing shares in such firms might yield gains if NFTs soar in popularity. Yet, remember that company management can sway outcomes as much as market trends.
Coinbase is one of the currently active companies whose shares can be bought on the stock exchange. Here you will be investing in the popularity of NFTs (of course) but also in the company’s competence.
9. Flipping
Flip NFTs like a strategic art collector, buying low and selling high. This art of patience mirrors trading, demanding a discerning eye to anticipate price fluctuations. NFT values can be unpredictable, often reliant on platform popularity.
That’s It!
Trade, mine, rent, stake, whatever you decide to do on the upcoming NFTs, don’t forget to the imminent risks and the need for extensive research. Delving into the NFT universe offers a wealth of opportunities for income generation. Crafting, trading, renting, playing, licensing, staking, investing, and flipping are pathways to profit. Explore and experiment, but always tread cautiously, recognizing that while NFTs hold potential riches, they also embody an element of unpredictability.
FAQs
- How to find upcoming NFT projects?
One of the best ways to find upcoming NFTs projects is to use hashtags and follow people on Twitter. Another option is to join discord communities.
- What is the best NFT project for 2023?
Here’s a list of the best upcoming NFTs in 2023:
- Fight Out
- Moonbirds
- Women Unite
- Wen Sandwich
- Crypto Baristas
- Pudgy Penguins
- ApeMax (APEMAX)
- Mutant Ape Yacht Club (MAYC)
- What will the NFT market be in 2025?
$2.7 billion, that’s the worth of NFT marketplaces by 2025, according to a recent report by BitcoinCasinos.com.
