In this article, we will tell you in detail how to make money on NFT and not to lose, because there are a lot of pitfalls in this topic. The main thing is to think outside the box.
The trading volume on the leading NFT marketplaces grew 43,000% year-on-year to reach $13 billion, as reported by The Block.
How to turn a $600 collection into $20 million
NFT has become the linking topic for the whole world: famous people, from Melania Trump to Snoop Dogg, showed how to invest in NFT’s and even run their own collections.
Collectors who realized how to choose the best NFTs to invest in – have earned massive ROIs. For instance, Twitter user Pranksy has bought NFT artworks worth $600 initially, and in a short period the value of his NFT investments reached $9 million.
NFT aroused the interest not only among celebrities and digital artists – they became interested even in international companies: the legendary auction house Sotheby’s reported a 100 million dollar income from NFT assets and even decided to create its own trading platform NFT, known as Sotheby’s Metaverse.
How to choose the best NFT marketplace?
You’ve probably heard of OpenSea, the first NFT trading platform and NFT marketplace that dominates the industry in terms of trading volume. And still, OpenSea might not be the best NFT platform for a beginner. And here are the reasons why:
- OpenSea supports only Ethereum, Polygon, Klaytn, and (to a lesser extent) Solana. It does not support BSC (Binance Smart Chain), on which the largest NFT-based game projects operate.
- Most of the trending collections on the OpenSea NFT market are too expensive for most novice players, with minimum prices starting at $1000.
- Most collections run on Ethereum, which means you have to pay commission (gas) to create an NFT – could be up to $50 or even more.
A very attractive alternative to OpenSea is Liquidifty, one of the best NFT marketplaces where you can sell NFTs for gaming and metaverse assets. The platform features assets from dozens of exciting games.
In addition to game collections, Liquidifty has a separate "Art" section and even a virtual LQT exhibition section with artworks of promising digital artists selected by the platform’s team. If you’re an artist and are wondering how to sell NFT artwork with the best terms, you should definitely check Liquidifty.
