In recent years, NFTs (Non-Fungible Tokens) have captured the spotlight with stories of digital art selling for millions and overnight millionaires emerging from the world of blockchain. But beyond the hype and headlines, what’s the real truth about making money with NFTs?
Is it a golden opportunity, or just a bubble waiting to burst? Let’s break it down.
What Are NFTs, Really?
NFTs are digital assets stored on a blockchain, representing ownership of a unique item — often digital art, music, videos, collectibles, or even virtual real estate. Unlike cryptocurrencies like Bitcoin or Ethereum, NFTs are non-fungible, meaning each one is unique and cannot be exchanged on a one-to-one basis.
Think of NFTs as digital certificates of authenticity.
How Do People Make Money with NFTs?
There are several ways people try to profit from NFTs:
1. Creating and Selling NFTs
Artists, musicians, and content creators can mint NFTs and sell them on platforms like OpenSea, Rarible, and Foundation. If you’re a creator with an audience or something truly unique to offer, this can be profitable.
Key Challenges:
High competition
Gas (transaction) fees on Ethereum-based platforms
Marketing is essential
2. Flipping NFTs
Just like trading stocks, some buy NFTs low and sell high. This works well when:
You buy early in a project with potential
Hype builds and demand grows
Scarcity or rarity drives value
