You Can Earn Free Crypto Using NFT Coins As A Passive Income
In 2021, coins from NFT projects and platforms become a significant component of the cryptocurrency ecosystem. Indeed, as more NFT coins enter the market, it gets increasingly difficult to determine which are the greatest possibilities for passive income.
To be sure, there were a lot of NFT projects that promised coins or tokens but never delivered. While this is true, new play-to-earn NFT games and NFT initiatives with promising currency and staking payouts continue to emerge.
So let’s take a look at some of the best NFT coins available right now and how they may help you earn money while you sleep.
What Are NFT Coins and How Do They Work?
The first thing to remember is that NFT coins come in a variety of forms, each with its own set of features. Second, NFT coins can be quite volatile. As a result, while purchasing NFTs that offer coins, or acquiring NFT coins on exchanges or through liquidity pools, extreme caution is required.
Let’s take a look at some of the greatest or most promising NFT currencies available right now. For the coins listed by Coin Market Cap, USD and market cap values will be given.
Cardano (ADA) is the sixth largest cryptocurrency by market capitalization. It has a market valuation of $44,931,269,425 and a USD value of $1.35 at the time of writing.
CyberKongz NFT Collection Coins – BANANA
The original CyberKongz were the first NFTs to use currencies or tokens to implement passive revenue. To summarise, CyberKongz genesis holders will receive 10 BANANA tokens per day for the next ten years (from the time of mint). The token’s principal purpose is to be used to create Baby Kong NFTs.
BANANA has been one of the most successful NFT coins thus far. Genesis CyberKongz NFTs are among the most costly avatars on the market, owing to their high worth. A genesis CyberKongz NFT now costs 90 ETH, or roughly $344,000 USD. It costs 6.99 ETH (about $27,000) for Baby Kongz.
Token of the Bored Ape Yacht Club*
In October, the team behind the first NFT avatar project finally responded to the query “Wen token?” While they didn’t reveal much about the BAYC coin’s design, they did announce that it will be released in the first quarter of 2022.
Though it hasn’t been released yet, given the success of all of the BAYC collections, it’s difficult to believe that a future BAYC coin won’t follow suit.
Coins for the NFT Game
Axie Infinity – AXS and SLP (Axie Infinity – AXS and SLP)
Current USD Value: 95.48 | 0.02626 (AXS | SLP) Market Cap: $5,855,590,710 | $84,227,699
Axie Infinity is without a doubt the most well-known name in play-to-earn blockchain gaming. In reality, it was one of the first initiatives of its kind in space. It has Axies, which are NFT characters that look like Pokémon.
In addition, through purchasing, selling, breeding, and combating Axies, players can earn and trade the game’s native coin, AXS. AXS can also be purchased on a variety of exchanges. Not to note, in October 2021, Axie Infinity launched AXS staking.
While playing Axie Infinity isn’t exactly a relaxing experience, staking AXS is. To put it another way, staking allows users to lock up their AXS coin and earn a considerable amount of interest over the time they stake it.
Not only that, but Axie Infinity is linked to a second currency. The Smooth Love Potion, or SLP, is the name of this coin. SLP was first introduced as an in-game money that players could earn and spend to breed Axies. However, the game has expanded to the point that it now trades on exchanges. Swapping SLP for AXS to get staking rewards is also quite simple.
Wolf Game – $WOOL USD Value: 0.1998
In the NFT realm, Wolf Game has recently gained a lot of traction. Wolf Game, in particular, is praised for its straightforward gameplay and passive revenue scheme. In comparison to, say, Axie Infinity, earning the $WOOL token in the game is incredibly straightforward.
For example, buying a sheep NFT on the secondary market, staking it in the Wolf Game “barn,” and earning $WOOL is a simple example. Unlike Axie, which takes a lot of time and strategy to play, Wolf Game is as passive as it gets.
Wolf Game is still in its infancy. However, if the trend of NFT influencers talking about Wolf Game’s $WOOL is any indication, it might easily become a prominent NFT currency this year.
Decentraland NFT Platform Tokens – MANA Market Cap: $5,958,249,596; USD Value: 3.26
According to Opensea’s overall volume ranking, Decentraland is the all-time leading Metaverse. Given the massive increase in Metaverse land sales by the end of 2021, it’s no surprise that those platforms’ native coins are outperforming other cryptocurrencies.
MANA is Decentraland’s native coin, and it’s used to acquire virtual LAND and trade other assets in the Decentraland ecosystem. When LAND auction transactions occur, MANA is burned, reducing the amount of MANA accessible. This deflationary effect is significant, particularly as Decentraland’s user base expands.
SAND Market Capitalization: $5,193,543,757; USD Value: 5.65
Another popular metaverse platform is The Sandbox. It, like Decentraland, has its own native coin, SAND. Holders of SAND can use it to buy land plots and other items in The Sandbox. Staking the SAND token is one of the finest ways to make passive money in The Sandbox.
Furthermore, through The Sandbox Foundation, The Sandbox effectively returns 50% of SAND to its community.
ENJ Market Capitalization: $2,392,231,575; USD Value: 2.83
Enjin is a firm that helps blockchain game developers value the in-game objects they generate. The ENJ token is how Enjin accomplishes this. When game designers create an NFT item, they effectively lock up the ENJ coin. These goods can include in-game money, characters, and accessories, to name a few.
ENJ-enabled games allow players to earn, purchase, and trade items in such games. Finally, players can sell the things for the number of ENJ coins they contain. Another important factor to remember is that ENJ’s supply is limited. In other words, there will only ever be 1 billion ENJ. This supply limit can then help to boost the price of ENJ.
Gala Games – GALA
$3,066,380,325 in market capitalization; 0.4398 in USD value
Gala is a blockchain gaming platform that focuses on producing simple, engaging games where the players own the assets. GALA, the platform’s native token, is traded on exchanges and used as a prize in some of the platform’s games as well as for users who host nodes for Gala’s decentralised blockchain. In Gala Games, the GALA coin can also be used to trade assets.
Last year, GALA experienced some significant price gains as a result of its listings on Binance and Coinbase, as well as some price drops. The success of the platform and the games it produces is undeniably linked to the coin’s worth.
NFT Coins provide both a risk and a passive income opportunity.
Risk and opportunity go hand in hand in any investment, as they do in any other. More established passive income possibilities, such as staking AXS or SAND, have comparatively low risks. They may, however, have a greater entrance barrier and a lesser return than a less proven NFT currency.
In any case, there is a wide range of passive income prospects when it comes to NFT coins. The best option for you is determined by your needs. So do your homework and make an informed decision!
NFTBoosts.com makes no recommendations grounded on its investment/ fiscal opinions.
This article is just for educational purposes.
Make your own exploration before making any form of investment, as always.
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