3 Ways to Make Money with Non-Fungible Tokens (NFTs)

Non-fungible Tokens are without a doubt the most popular trend in the crypto community right now. Everyone is talking about launching their own NFTs, from celebrities to well-known companies. However, not all NFTs are created equal: while some are extremely valuable, others are practically worthless. Let's look at some of the most lucrative ways for individuals and businesses to profit during the current NFT gold rush.

1. Works of Digital Art

Individual NFT artifacts are the most profitable non-fungible tokens ever created in terms of net profit.

The history of blockchain technology and the history of art changed forever on March 11th. An NFT work of art was sold for $69 million at Christie's, one of the most prestigious auction houses in the world. Christie's auctions off digital artwork for the first time ever.

Digital artist Mike Winkelman, better known as Beeple, created a piece titled "Everyday: The First 5000 Days''. NFT 5000 Tokens is a collage of images that Beepple has created every day over a period of years.

While some are concerned that selling a link to a photo for millions of dollars could be a front for money laundering, others believe that NFTs are a true revolution in the art world.

The record-breaking price of Beeple's NFTs may soon be exceeded. After all, Beeple was a completely unknown artist until recently. If a work of NFT art by someone like Banksy were to be auctioned off, the price would almost certainly be much higher at $69 million.

2. Collectibles with a Licence

The most natural and obvious application of non-fungible tokenization technology appears to be tokenizing collectibles. Brands that previously only sold physical collectibles such as trading cards can now sell the same thing digitally. The cost of a digital trading card can be much higher than the price of its physical counterpart due to the proven rarity of NFTs.

The sports card has proven to be the most popular type of licensed NFT collectible ever. The first NFT sports card project allowed people to trade licensed soccer player cards, but the NBA recently launched its own collection of NFT cards. Other sports organizations are also likely to follow suit, and collectors will be able to purchase NFT cards for baseball and hockey as well.

NFTs can be used for a variety of things, not just sports cards. Non-Fungible Tokens can be made out of any physical collectible. Physical trading cards can be easily damaged, but NFTs can be safely stored on the blockchain and will never lose their quality.

3. Video Games on NFT

Video games based on NFT technology may be the future of White label NFT marketplace technology. So far, no game using non-fungible tokens has become widely popular, but the potential for NFTs to be used in video games is enormous.

Gamers are known to spend a lot of money on virtual items. All of these markets, whether it's World of Warcraft gold, Call of Duty loot boxes, or Counter-Strike skins, are already worth billions. If a major video game company decides to sell in-game items as NFTs, it will have a huge impact on both gaming and the blockchain ecosystem.

It is also worth noting that NFT video game developers are among the most forward-thinking non-fungible token makers and that NFT in-game items could help advance non-fungible technology.

In-game NFTs are far more advanced than simple digital trading cards, or there are even more interactive NFTs such as virtual works of art. Irreplaceable tokens in video games can be extremely complex, fully interactive, and evolve over time, for example, by upgrading or leveling up with the player's character.

Non-Fungible Future

Non-fungible tokens are more than just another fad in the cryptocurrency world. NFT technology has a wide range of applications, and its full potential is only now being realized.

The NFT gold rush is just getting started as more individuals and businesses decide to join the non-fungible token ecosystem. The fact that the most popular NFTs are still simple images shows that the market is still undervalued; The real explosion in NFT popularity may not happen until complex non-fungible tokens that fully take advantage of the new technology become more popular. Contact the best NFT token development company that can help you create NFTs for artworks, digital collectibles, gaming, etc.