• There is lively trading in NFTs on online marketplaces
• NFTs can also be rented out
• Money can also be made with license fees
What are NFTs?
NFTs, short for Non-Fungible Tokens, are digital title deeds of certain goods. Well-known are the pictures of the Bored Ape Yacht Club: A collection of monkeys drawn in comic style, all of which show a bored facial expression, but differ in terms of headgear, clothing or glasses. Using blockchain technology, ownership of an NFT can be clearly proven, so that the image of each monkey is always associated with an owner. In this way it is also possible to trade with NFTs, because with the purchase the buyer acquires proof that he is the owner of the asset secured by the NFT.
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Rent NFT
But it is not only possible to earn money with the purchase and sale of NFTs, it is also possible to rent out an NFT so that you can generate regular income. Renting an NFT can be interesting for players who need a unique item for a temporary period of time – NFTs are currently in demand for games such as “Galaxy Fight Club” or “oncyber & friends”. On platforms such as reNFT.io or UNITBOX DAO, the landlord can set the required rent and the rental period and publish an offer for interested parties. It is also possible for the landlord to request a rental deposit.
A method similar to renting is so-called staking: Here the NFT does not change hands, but you cannot use your NFTs for a certain period of time, because similar to staking cryptocurrencies, you enter into a predetermined holding period in which you can NFT cannot sell. In return, you receive rewards from the platform you entered into the staking contract with. Platforms that offer NFT staking include nftx.io or the operator of the NFT card game Splinterlands.
Transaction License Fees
Money can also be made with NFTs through license fees. According to CoinDesk.com, thanks to blockchain technology, the creator of the NFT can be compensated for every sale of the NFT. In this way, the original author can participate in the value development of his NFT, because proportional license fees can also be determined, so that a certain percentage of the sales proceeds always accrues to the author. According to CoinDesk.com, this does not involve any additional work: the license fees are automatically transferred to the owner of the license rights via a so-called smart contract, an automatically processed digital contract.
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