How to Make Money With Non-Fungible Tokens
Body 327 Words
The term “NFT” or “Non-Fungible Tokens” refers to digital assets which are unique and cannot be duplicated. It is a new kind of digital asset that has been introduced by the blockchain technology. This digital asset can be traded, sold, bought and shared with other people. The main feature of this digital asset is that it can’t be duplicated.
In simple words, the value of an NFT depends on its uniqueness. If you want to buy an NFT then you need to pay for its uniqueness. If you want another person to sell you his NFT then you will need to pay him a certain amount for the uniqueness of the NFT.
It’s easy to understand the concept of NFTs because we have used this concept in our day to day life. We can use the same concept when buying and selling things like cars, houses, etc. In this article, I am going to explain you how you can use the NFT concept to make money online.
How to make money with NFTs?
You can use the NFT concept for making money online. There are many ways to earn money using this concept. Let me give you some examples.
You can create your own NFT and sell it.
You can create your own NFT by using a tool called ERC721. Once you create your NFT, you can sell it to other people. People who buy your NFT will get a certain amount of crypto coins as a payment.
You can buy NFTs from other people.
You can buy NFTs from people who already have created them. You can either buy them directly from them or you can buy them from an exchange platform.
You can trade NFTs.
If you want to earn money by trading NFTs then you can use an exchange platform. There are many such platforms available in the market. You can buy and sell NFTs using these platforms. You can also create your own NFTs and sell them on these platforms.
How to buy an NFT on eToro
five simple steps