There are two different ways to make money. The first one is by investing your time in a stable industry, like content creation or web development. This will take time because there are already a lot of competitors in these industries.
The second way, and the fastest, is by investing your time in a trend industry like cryptocurrencies or NFT and being one of the early adopters of these technologies.
What is an NFT?
NFT stands for Non-fungible Token. It’s a digital contract (smart contract) that specifies your ownership of any art you make. And when this contract is stored (minted) in a blockchain, it can not be changed.
This will protect artists’ ownership of their arts. Unlike traditional ways where anyone can easily copy your art and claim that, he owns it.
And the good thing about NFT is you don’t have to be an artist or a crypto expert to make money from NFT. Therefore, I list down 6 different ways you can make money with NFT.
Note: each method has a unique skill required. I highly recommend choosing the one that fits your expertise.
1. Design your own NFTs
The common way to make money with NFTs is to create your own NFT. And then sell it in any marketplace.
Creating NFT does not mean making artwork. NFT could be music, book, poet, or domain name, to name a few. Though, Art is the most common NFT type.
Making NFT art is not exclusive to talented artists. We all know how to draw, and you don’t have to make the Mona Lisa NFT in order to make a profit. You can easily design pixel art like CryptoPunks and make thousand of dollars.
After you make your NFT, It’s time to list it for sale. OpenSea is the most popular marketplace to sell your NFT. And the process for listing your NFT is straightforward.
If you have great designing skills, you can design arts for people who want to make NFT but can’t design it by themselves. These days, many people ask how to make an NFT, you can DM them and offer your help.
2. Generate NFT avatars
You may have seen many Collections that have around 10,000 NFTs. Those collections are called NFT avatars collections. each avatar collection has a base image, and all 10,000 images contain the common properties of that base image.
For a designer to make NFT avatars, he must first design different layers with multiple traits for each layer:
- Design square, circle, and triangle face images for the face’s layer.
- Design soft, curly, and coiled hair images for the hair’s layer.
- Design black, white, and sand skin images for the skin’s layer.
After that, the designer will need somebody to combine unique traits together to create 10,000 images. That somebody could be you.
There are many people on Fiverr offering to do this work. Here is one, for example, asking $875 to generate 10,000 NFTs.
Of course, these people don’t do that manually. Instead, they use software to generate 10,000 images in a matter of minutes.
NFT-Generator is a great software that you can buy onetime for $250, and start offering your service for $500 per 10,000 NFTs.
3. Market other people NFTs
Whether you are in NFT or another industry, marketing is the most difficult part you will face. And we have seen many artists make beautiful art, but they struggle with marketing.
Marketing NFT needs a lot of experiments and practice. However, when you learn the process, you can repeat it with any new NFT project.
In the beginning, you can target solo NFT artists. Just search on Instagram and Twitter for everyone who uses NFT hashtag and has less than 100 followers. Then you can DM him if he wants assistant in marketing his NFT.
After you land a client, you can start promoting his Collection on every social media by cold messaging every person who is related to the Crypto world.
You can also start building your brand on social media as a marketing agency. Gain followers by sharing useful content about NFT. Later on, you can promote your client’s art on them.
4. Deploy NFT to a blockchain
When an artist finishes designing NFTs, he will probably need a blockchain developer to deploy those NFTs to a blockchain.
I said probably because some artists have just one or two NFTs and they can deploy them easily in a marketplace like OpenSea. But if they have a 10,000 NFTs collection, they definitely need a developer to automate the process.
Many blockchains support NFT. Although I suggest you go with Ethereum, many other blockchains have started to gain popularity. To name a few:
5. NFTs airdrop
Many new NFT projects do NFT airdrop to increase their community. That means they randomly giveaway some NFTs for free.
Of course, this method depends on luck. But there are hundreds of NFT projects that show up every week, and if you follow all of them, the chances to win the airdrop will be very high.
Twitter and Discord are the best social media for NFT projects. You can search on them about #NFT and you will find a lot of accounts and communities. Just search for the ones that have not done their giveaway yet and follow them.
6. Mint NFTs
If you missed the airdrop, you can look for some NFT projects to mint. Minting is the process of creating a crypto collectible or digital asset on the Ethereum blockchain from a digital file.
Projects with more than 1000 NFTs often offer minting NFTs on their website. You can search for a project that has great potential and community.
A project will determine the price for minting an NFT, called floor price. After you mint NFTs, you can list them for sale in any marketplace for a price higher than the floor price.
Minting NFTs is profitable. But you should search for the right projects to mint. Some of them are just scams.
If you want to design your own NFTs, NFT-Generator is a great software to build your 10,000 NFT collection. It comes with settings and analytic tools for NFTs scarcity, along with many other features.