Since we are in the bear market, long-term hodlers and those who want to earn passive income through crypto are looking for ways to increase their profitability. Airdrops, staking, and yield farming are great ways to earn through crypto but do you know? You can stake your NFTs as well.
You can stake your NFTs on staking platforms to earn income and additional returns on your investment.
How to Stake NFTs
Staking platforms allow you to stake your NFTs no matter form they are. You can stake images, videos, art, and what kind of NFTs you have.
You will attach your NFTs to staking platforms to get rewards. Rest assured you will remain the original owner of the non-fungible token.
To stake NFTs and earn the passive income, you need a compatible crypto wallet for your respective NFTs and connect that wallet to your choice of staking platform. What and how much reward you get depends on the NFT and the staking protocol you use.
Additionally, you can stake and lock your asset in a DAO NFT staking pool to not only get rewards but also get governance rights on the blockchain. Some popular NFT staking opportunities are offered by Axie Infinity, Splinterlands, and everyone’s favorite, The Sandbox. Other known NFT Staking platforms include Mobox and Binance NFT PowerStation.