One of the most common uses of these is by staking, which is the process of securing a non-playable token in a blockchain. This type of token is often used to exchange for a reward. The goal of this process is to increase the deficit and prevent the token from being sold.

Since NFTs are not tied to a specific activity, they can be used to earn passive income. If there is no benefit to the NFT holder, then no one would bet on it. When a person sends their NFT to the project team for staking, they receive a reward in return. One of the most common methods of securing NFT on a blockchain is through the use of a proof-of-stake network. This type of network is used to confirm transactions.

Since the goal of the process is to reward the stakers, the gas fee is the reward they receive. There are various rewards that are offered by NFT staking programs, and they can vary depending on the project. One of the most important factors that you should consider when it comes to choosing a good NFT staking program is the amount of money that the program offers.

Some of these offer high returns initially, but as the market price of the token goes up, the value of the reward drops. If you bought NFT A for three times as much as NFT B, then it will take you a longer time to recoup your costs.

Wolf Game

In November 2021, DappRadar talked about a game called the Wolf Game that allows users to earn money by staking their sheep or wolves. In the game, users can earn WOOL by taking the risk that their NFTs might get stolen. This type of gamified finance is very interesting.

Mutant Cats

The project, which is called Mutant Cats, gives owners a fractional ownership of a DAO's storage assets. Each cat in the collection generates around 10 FISH per day. It was launched in October 2021. The goal of the project is to provide people with access to the project's assets without having to pay high prices. The team behind another project called the Mutant Gorillas also created this collection. In 60 days, every gorilla in the project will produce one SERUM token, which can be used to heal the cats.

NFT Worlds

NFT Worlds In March, NFT Worlds introduced staking, which allows people to earn rewards and participate in the project's long-term sustainable economy. The company plans to release more than two billion WRLD tokens within five years. Each piece of land in the NFT Worlds ecosystem has a rarity rating, and those who take land with the highest rarity rating are rewarded with more tokens.

In addition to being able to earn rewards, people who stake land can also lease it to other users. This new source of passive income helps strengthen the bonds between NFT Worlds' owners and the platform.

Axie Infinity

A new project called Axie Infinity has five types of land that are available in the game: Since January 2019, Axie Infinity users have been buying land-based NFTs. The platform has started rewarding those who take land with its various rewards.

  • Savannah;
  • Forest;
  • Arctic;
  • Mystic;
  • Genesis.

The cheapest ones are currently trading at 1,275 ETH ($2,000). Axie Infinity users first started buying land-based NFTs in January 2019, so the need for them has been brewing for a long time. The platform offers users the following land NFT staking rewards.

SkuxxVerse

One of the most popular projects that people can use for land staking is the project called The SkuxxVerse. This project allows people to earn rewards and participate in the project's long-term sustainable economy. Through the purchase of the NFT Pass, users can gain access to a special virtual world that's created by The SkuxxVerse. They'll also receive a free NFT, which can be used to represent a home in the metaverse. Over a million WRLDs have been distributed to its owners so far, and the company has just launched its own virtual world.

CyberKongz

One of the most popular projects that allows people to earn income from their NFTs is the CyberKongz. Through this project, its owners can earn 10 BANANA every day for a guaranteed 10 years. They can also burn their tokens to give their avatars unique characteristics. During the peak of the BANANA price in October 2021, the owners of CyberKongz were able to earn around $1,000 a day. Despite the lack of return, the owners of BANANA can still benefit from the project's exclusive groups.

Future of NFT-staking

Due to the decline in the value of cryptocurrencies and the lack of interest in NFTs, the current outlook for the future of NFT rates is not positive. Some of the projects that performed well during the bull run in 2021 are still offering low returns.

Despite the current economic situation, the future of NFT-staking is still promising. In the next couple of years, various projects will start developing new and better ways to use their NFTs. This will allow them to establish stable profits. One of the main factors that will determine the success of these projects is their goal to create something that's not built on hype.