The NFTs craze is centered around the classic buying-low-and-selling-high-profit model.
This frenzy is not surprising; flipping NFTs has created several overnight millionaires. A picture of a grey cartoon rock recently sold for $1.3m, surging a crazy 23,400% in 19 days. Apparently, nothing is too absurd in the NFT world.
While buying and selling NFTs is the most common way to make money off NFTs, it’s not by any means the only means. Here are some NFT projects that can earn your money in the most unheard-of ways.
1 Decentral Games Ice poker
Ice Poker (by Decentral Games) is a play-to-earn poker game on the Decentraland Metaverse. Players with ICE wearable NFTs compete and complete daily challenges to earn $token rewards. And if you’re asking, wearable NFTs are really cool virtual outfits – Shirts, pants, jackets, sunglasses, Yeezy sneakers, and other accessories that you deck out your virtual self (You wouldn’t want a homeless crackhead for an avatar) in the Metaverse.
ICE poker uses ICE as the in-game currency and DG as the project’s governance token.
Here is the exciting part. NFTs, including wearables, can be expensive, which is good news for those that hold them. If you lack both the time and inclination to play, You can rent out (delegate) your wearables to players who can’t afford them for a cut of their winnings.
The earning is split, usually 40% to the NFT owner and 60% to the broke (but time-rich) player. The NFT owners can monitor players’ performance on the Decentral website and can retrieve their wearable if the player’s performance is below par. Owners do not have to worry about being short-changed. Blockchain technology and smart contracts ensure the sharing is done automatically and trustlessly, which helps avoid fisticuffs.
2 Genesis Critterz
Genesis Critterz NFT is an On-chain NFT (NFTs recorded on the blockchain) project that adds a fresh play-2-earn twist to the decade-old Minecraft video game.
The Critterz NFT collection consists of 4,096 NFTs, classified into six types – Frog, Cat, Doge, Mouse, Alien, and Ape. Each NFT is represented by a 64 x 64-pixel art depicting a 3D model of the Minecraft character. There’s also a 20 x 40-pixel art that shows just the character’s front view.
Ownership of Critterz NFT allows you to stake them for exclusive access to Minecraft. There, you earn $BLOCK tokens in-game for playing, and you can use them to claim plots of land in Minecraft, which you can resell in the secondary market.
But if you rather watch a rerun of Ozark than play Minecraft, you can still earn $BLOCK passively by renting your Critterz to dedicated players who will share their generated BLOCK with you. Cool.
3 Wolf Game
Wolf Game is a play-to-earn NFT blockchain gaming project designed with simple and engaging gameplay with a risk element. It’s built on the Ethereum blockchain and combined the best of NFTs and DeFi to yield passive income for players. The native token for Wolf Game is WOOL, an ERC-20 token.
The game uses two NFT elements, the Sheep and the Wolf. To begin, players use WOOL tokens to mint the NFTs. Here’s a fun fact. Players have no idea if the NFT they’ll get is a sheep or wolf with a 90% chance of minting the former.
For the sheep, earnings are as simple as staking you NFT to a barn to earn 10,000 $WOOL tokens daily. Sheep owners pay WOOL taxes (30% of all WOOL proceeds flowing to the barn) to their nemesis, the rapacious wolves, to protect their flock.
In addition, wolves steal (an otherwise unfortunate character flaw), so wolf NFT owners can get lucky and have their wolf filch a sheep NFT.
Wolf game is still in its early days, but with the potential for passive income and the publicity from NFT influencers, it could well become one of the top NFTs blockchain gaming platforms.
StackOS is a decentralized cloud computing protocol that has launched an innovative NFT node program. Nodes, in blockchain technology, are computer systems that lend their computing power and resources to support a blockchain network.
Setting up a typical node requires substantial capital and a bit of technical know-how. However, with StackOS, all you need is $200 and a computer with internet. The StackOS protocol enables you to mint a node NFT to create a slot on which a node can be run by a cluster operator (one that runs a group of nodes that powers the decentralized cloud).
So what do you gain by being part of a decentralized network using StackOS?
For starters, after minting an NFT node with $200, StackOS requires you to pay a monthly maintenance fee of $100 (either in stablecoins or its native token, $STACK) for each node NFT held. In return, you’ll earn:
✅50% of NFT trading fees in ETH or MATIC
✅An APY of 580% which consists of 80% monthly $STACK bonus on the $100 monthly maintenance fee subject to drip over a year and $100 in $STACK, which you can claim immediately.
✅10% of every future Node NFT minting fees
Using NFTs as nodes is a relatively new concept, but as passive income goes, it promises fantastic returns with the least hassles.
5 Hive Investment
Hive investments is a Polygon-based NFT and DaaS (DeFi- as-a-Service) protocol designed to optimize returns on treasury investments for investors and expand the Hive ecosystem while maintaining reliability, transparency, sustainability, and trust.
Hive NFT holders earn daily $HNY tokens (the native currency of the hive ecosystem) and can access their initial invested capital from the start. They can also sell their NFT at any time on the native NFT marketplace, Hexagon.
The hive project seeks to increase the value of the $HNY token by adding utility by developing a robust ecosystem with the hexagon marketplace as a foundation.
Bees are not left out. 1.5% of all mint proceeds are channeled to conserving nature’s hives and other global charitable concerns.
With creators and investors making staggering figures off NFTs, these digital collectibles are all the talk these days. NFTs are not going away anytime soon, soooo(not the finanancial advice!)… However, while you may not beat Beeple’s record $69 million NFT sale, you can explore these not so ordinary passive income opportunities.
Disclaimer: These are the writer’s opinions for entertainment and educational purposes and should not be considered investment advice. Readers should do their own research.