How to make money with NFT
There are a lot of earnings on the internet, it’s time to talk about a popular one – NFT.
What is NFT?
The three letters can be deciphered as follows – a unique token. This is by far the most interesting form of contemporary art. The most important thing is that such images can bring its author income up to several million dollars. Would you like a small but illustrative example from Twitter’s history? We think we’ve managed to intrigue you, but here’s an NFT token with the first tweet made by social networking founder Dorsey and received €3 million for it.
That’s great. Copyright is talked about all the time and everywhere, and even a meme can be a subject of copyright protection. But let’s talk about how to sell a tweet in the first place? There’s really nothing complicated here, because it’s all about NFT. We’ve come very close to the topic of making money from unique images.
Why NFTs are needed and how to make money from them
This kind of art is young, but its predecessors digital goods, or rather the demand for them has been around for a long time. It’s worth remembering that some players in computer games, purchased skins, and the cost was a blockbuster. But at that time, it was too early to talk about tokens, and such money was given for the software code of the skin.
Goods with collector’s value are expensive. Let’s look back at the most expensive unique tokens:
- The First 5000 Days – 70 million euros.
- T206 Honus Wagner – 3.25 million euros.
- the Merge -91.8 million euros.
If you paint or create characters for games or you’re just an artist, you can sell all your works using the digital format – NFT. But you can use them not only for that angle, but also for work purposes. How? The digital format can be used to attest to your right to get unique data or access to a certain object.
It is possible to make money from NFTs without creating anything new. The value of a token will vary from time to time. But it is up to you to decide when to invest in the project, when the price is at the bottom of the market or to sell at the top. In that case, you will profit from the difference in price.
What you need to know about NFT
The main problem with using a token is fraud. Yes, and there is no way around it here either. Transparency with NFT does not guarantee that you actually own the property.
Keep in mind that tokens prescribe a variety of rights for the buyer. That is, if you buy such a token, you may not have the right to resell it or receive any income from it.
Some NFTs have a link to the server where the object resides. But it often happens that the server moves to another domain name or ceases to exist on the web. In this case the link will no longer be relevant.
To avoid problems, use a trusted site that protects your rights, but even they cannot provide a 100% guarantee.
