How to Make Money with NFTs as a Beginner: Proven Steps

How to Make Money with NFTs as a Beginner: A Simple Guide

Non-fungible tokens, or NFTs, are special digital products that may be bought, sold, and collected online. Imagine them as digital trade cards, art, or special video game objects that you own. NFTs have helped many individuals make money, and even if you’ve no knowledge about it, there are easy and enjoyable ways to get started.

If you want to earn money in crypto without money, Read our article; Earn Free Crypto: Beginner’s Guide to Making Money in Crypto.

In this guide, we’ll show you easy ways to make money with NFTs. We’ll explain how you can create your own NFTs, buy and sell them, earn rewards through games, and even make money by holding on to special NFTs. You don’t need a lot of experience—just some interest in digital art, games, or collectibles, and a bit of curiosity to learn.

Let’s jump in and explore how NFTs could be your next big adventure online!

Quick Answer: Ways to Make Money with NFTs as a Beginner

1. Create and Sell Your Own NFTs
2. Buy and Sell (Flip) NFTs
3. Stake NFTs for Passive Income
4. Earn through NFT-Based Gaming Rewards

Each method offers unique opportunities for beginners, and we’ll dive into the details to help you pick the right path based on your interests, budget, and goals.

What Are NFTs? A Simple Overview

NFTs are unique digital assets stored on a blockchain, making them verifiable and, often, valuable. Each NFT represents something unique—like a digital piece of art, a game item, or even virtual real estate—and cannot be duplicated.

Unlike traditional cryptocurrencies like Bitcoin, which are interchangeable, each NFT has its value and characteristics.

How to Make Money with NFTs: A Step-by-Step Guide

So, you’re curious about making money with NFTs, but you’re not sure where to start? Don’t worry—you’re not alone! NFTs can sound intimidating at first, but they’ve opened up countless opportunities for people all over the world. Whether you’re a creative person, a savvy investor, or just someone looking to dip your toes into this exciting space, there are proven ways to earn money from NFTs.

Let’s break it down into a step-by-step guide packed with facts and practical tips.

Create and Sell Your Own NFTs

NFTs are revolutionizing how creators monetize their work. Artists like Beeple have sold their digital art as NFTs, earning a whopping $69 million in one auction don’t need to be a famous artist to start—many beginners have successfully sold their NFTs by targeting niche audiences.

Here’s How to Get Started:

• Choose Your Platform: Platforms like OpenSea, Rarible, and Mintable have user-friendly interfaces and minimal fees, making them perfect for beginners.
• Cre Content: Research shows that buyers look for exclusivity and connection. For example, creators like Gary Vaynerchuk added value to their NFTs by offering perks like event access.
• Set Your Prtfully: Pricing low initially can build your audience. For instance, NFT collections like Bored Ape Yacht Club started affordably before skyrocketing in value as their popularity grew.

Pro Tip: Promote your social media. A study by Statista highlights Twitter as the top platform for NFT discussions, followed by Discord.

Buy and Sell (Flip) NFTs

NFT flipping is akin to traditional trading: buy low, sell high. According to NonFungible.com, the NFT resale market hit $2 billion in sales in the first quarter of 2021, showing the lucrative potential of flipping.

Here’s How to Flip Successfully:

Market Trends: Platforms like CryptoSlam provide data on trending NFT collections and average sale prices, helping you identify promising investments.

Join NFT Communities: Engaging in Discord Twitter Spaces dedicated to NFT projects can give you insider insights on when to buy or sell.

Time Your Sales: Flipping requires patience and timinmple, CryptoPunks initially sold for a few hundred dollars but later fetched millions.

Friendly Reminder: Not all projects will succeed. A study by Chaound that the majority of NFT profits come from just 10% of traders, so do your homework before investing.

Curious about NFT profits? This table shows hypothetical buy and sell prices for top NFT collections, including Bored Ape Yacht Club, CryptoPunks, and Doodles. With key data on marketplace fees and profit margins, you can quickly see the potential returns on investment in these popular NFTs.

Quick Tip: Be careful not to fall for every hype train. It’s easy to get swept up in the excitement, but always do a little research before diving in.

How to Calculate Profit:

1. Profit (ETH) = (Sell Price – Buy Price) – Marketplace Fee
2. Profit Margin (%) = (Profit / Buy Price) * 100

Note: Fees are calculated on the sell price, and the marketplace fee rate is assumed to be 2.5%.

Stake NFTs for Passive Income

Staking NFTs is like earning interest on a savings account, but instead of cash, you earn cryptocurrency rewards. This method is gaining traction as NFTs integrate with DeFi (Decentralized Finance).

How Staking Works:

1. Choose Compatible NFTs: Some NFTs qualify for staking rewards based on the platform. For instance, R-Planet lets users stake specific NFTs for rewards 【source: R-Planet website】.
2. Earn Cryptocurrency Rewards: These are usually paid in the platform’s native tokens. For example, R-Planet rewards users with Aether tokens, which can be exchanged or reinvested.

Did You Know? DappRadar reports that the popularity of NFT staking platforms has grown alongside the rise of DeFi, offering new ways to earn passively.

Make Money Playing NFT-Based Games

Play-to-earn (P2E) games are a hot trend, especially in countries like the Philippines, where some players of Axie Infinity earned more than the average national salary in 2021.

Steps to Start Earning Through Games:

1. Pick a Game: Popular P2E games include Axie Infinity, Gods Unchained, and The Sandbox. Each game offers unique ways to earn, such as battling or trading in-game assets.
2. Invest Wisely: Some games require upfront investments. Scholarships—where NFT owners lend assets to players—can help beginners start without spending much.
3. Sell In-Game Assets: Virtual items often gain value as games grow. For example, a virtual land plot in The Sandbox sold for over $4 million 【source: The Sandbox News】.

Pro Tip: CoinGecko reports the P2E gaming market grew 2,000% in 2021, signaling it’s an excellent time to explore this space.

Final Motivation

Making money with NFTs is no longer reserved for tech-savvy pros or elite artists. Whether you want to create your own digital assets, flip collectibles, or earn passively through games and staking, there’s an opportunity for everyone.

With the NFT market projected to reach $211 billion by 2030 【source: Fortune Business Insights】, now is the perfect time to start. Start small, focus on what interests you most, and enjoy the journey. You might just create the next viral NFT or find yourself flipping digital art for life-changing profits!

Essential Tools and Resources for NFT Beginners

Entering the NFT world can feel like stepping into a vibrant, unfamiliar city—there’s excitement all around, but a little guidance goes a long way. To help you settle in and avoid the overwhelm, here’s a toolkit designed to get you up to speed with confidence.

Wallets: Your Digital Safe for NFTs

If you’re planning to buy, sell, or even just hold an NFT, a digital wallet is your must-have starting point. Think of it as your secure vault in the crypto world, keeping your assets safe and accessible. Here are two beginner-friendly options:

• MetaMask: A favorite among NFT enthusiasts, MetaMask is simple to set up, works directly from your browser, and connects to popular blockchains like Ethereum and Binance Smart Chain.
• Trust Wallet: Prefer handling things on your phone? Trust Wallet offers a secure mobile solution that supports a range of cryptocurrencies and NFTs—ideal for newcomers on the go.

Quick Tip: During setup, you’ll receive a recovery phrase. Write it down and store it somewhere safe! If lost, it can mean permanent loss of wallet access, so keep it secure.

Here’s an engaging Wallet Comparison Chart to help beginners easily compare popular NFT wallets.

Use This Chart If You Are

1. New to Wallets? Choose Trust Wallet for a simple mobile experience or MetaMask for an easy browser-based start.
2. Focused on Ethereum NFTs? Go with Rainbow for an Ethereum-only wallet with beginner-friendly visuals.
3. Already on Coinbase? Coinbase Wallet makes transferring funds and managing NFTs a breeze.

Tip: Keep your wallet’s recovery phrase safe! This is your backup to access your wallet if you switch devices or need to recover it

NFT Marketplaces: The Hub for All the Action

With your wallet in hand, it’s time to dive into NFT marketplaces—the bustling online spaces where people buy, sell, and showcase a world of digital assets. Here are some solid starting points:

OpenSea: Known as the leading marketplace, OpenSea offers a little of everything—from digital art to virtual real estate. It’s intuitive, making it easy for beginners to explore and get a feel for the NFT scene.

Rarible: For those looking for a community-driven marketplace, Rarible is a great choice. It’s the place to discover new creators and support emerging artists in the NFT space.

Mintable: Thinking of creating your own NFTs? Mintable’s beginner-friendly tools allow you to mint without any coding skills, and they even have a “gas-free” option for budget-conscious creators.

Newbie Tip: Spend a few minutes browsing OpenSea first. It’s an excellent way to explore the variety of NFTs out there and see what catches your eye.

Community Spaces: Your Support Network in the NFT World

NFTs are all about community, and connecting with other enthusiasts can make your journey far more enjoyable. These spaces offer tips, news, and advice from people who started just like you:

Discord Servers: Many NFT projects have dedicated Discord channels where creators and collectors gather to share updates, host Q&As, and provide guidance. Look for general channels like “NFT Universe” or “NFT Art Hub” for a friendly starting point.

Twitter NFT Community: Twitter is buzzing with NFT activity. By following artists, collectors, and using hashtags like #NFT and #NFTart, you can keep up with trends and discover inspiring projects.

Reddit NFT Groups: Subreddits like r/NFT and r/NFTsMarketplace are excellent for beginners. These forums are full of discussions, tips, and honest feedback from fellow NFT enthusiasts.

Social Tip: Don’t be shy about asking questions! The NFT community is often open and welcoming, so diving in can help you learn fast (and maybe even make some new friends).

Price Trackers and Analytics Tools: Spot Trends and Opportunities

To make informed decisions, it helps to have an eye on market trends. These tools give you insights into prices, trading volumes, and popular projects:

NFTGo: This tool provides a comprehensive view of market trends, from top collections to trading volumes, so you can stay on top of what’s trending.

DappRadar: DappRadar offers insights not only on NFTs but also on decentralized apps, giving you a broader view of what’s popular.

CryptoSlam: Track real-time NFT sales on CryptoSlam to see which collections are picking up momentum and why.

Tracking Tip: There’s no rush to dive into data. Start by casually browsing these tools to get a feel for the market—ease into it as you go.

Learning Resources: Your NFT Crash Course

NFTs come with a learning curve, so a few go-to resources can make your journey smoother. These tools let you learn at your own pace, building your confidence along the way:

NFT 101 on YouTube: You’ll find many beginner-friendly YouTube channels that break down essentials like wallets, marketplaces, and more. Sometimes a quick video can make everything click.

Crypto and NFT Blogs: Blogs like CoinDesk, Cryptonews, and The Defiant are full of simple explanations for complex topics, perfect for beginners.

NFT Podcasts: Prefer listening on the go? Podcasts like “The Nifty Show” and “The First Mint” cover NFT basics and share insights from experienced creators.

Learning Tip: Pace yourself! NFTs don’t need to be complicated. A little reading or a quick video daily can build your knowledge without feeling overwhelming.

FAQs: Common NFT Beginner Questions