NFT Staking Platforms Development To Generate Passive Income
December 27, 2022
Non-Fungible tokens are currently the most popular trend in the crypto world.
Although NFTs are just digital art and collectibles whose value appreciates with time to most people out there. But, that’s not completely true.
These digital assets have a lot more value than meets the eye. As the crypto world grows, NFTs use cases are expanding too. These are now an excellent passive income source apart from providing ownership of digital collectibles.
Want to know how?
NFT use cases are expanding and providing new earning opportunities for creators and investors. The latest use case of NFT is “staking,” with which the NFT owners can earn rewards by locking up their digital assets on the staking platform. NFT collectors and investors are making money by locking up their assets on the staking platform. For this very reason, there is a huge demand for NFT staking platforms alongside the NFT marketplace.
If you are too looking to jump into the NFT staking bandwagon and launch your staking platform. Then, we have the right tech expertise and NFT token development team to turn your idea into reality. We help you launch an NFT staking platform with unique features in line with the current market trend.
NFT staking platforms are slowly gaining traction among investors these days. And now is the right time to enter the digital world with a staking platform with best-in-class features. Get in touch with ourIT consulting experts and discuss your NFT staking platform needs TODAY before it’s too late!!
Before diving deep into the topic, let’s start from the basics.
In NFT staking, the owner of the non-fungible tokens locks up their digital assets on a platform for a certain period. While doing so, they can earn passive income in the form of cryptocurrency as completion of the lock-in period. Depending upon different NFT staking platforms, users can stake their digital assets for an indefinite or limited duration.
NFT staking is now a popular passive income generation idea, and there are dedicated platforms like Splinterlands, NFTX, and BAND NFTs for staking NFTs.
How does NFT Staking Work?
Blockchain like Ethereum works on the Proof of Stake (PoS) mechanism in which participants lock in their cryptocurrency or NFT tokens. Based on how many tokens they have staked, the participants will get a chance to validate new transactions and earn rewards in cryptocurrency.
NFT staking feature is available on multiple blockchains and all a user has to do is stake their digital assets for a defined lockup period. After completion of the lockup period, users earn more coins. This method is similar to earning interest on the money stored in the traditional banking system.
The NFT owner has to find an NFT staking platform and lock up their digital assets for a specific period. Users can generate passive income from their assets rather than holding them in a cryptocurrency wallet.
Various Advantages With NFT Staking Platform
When users stake their unique NFT assets with an NFT Staking Platform, they will earn attractive rewards based on the lock-in period.
Airdrop is an attractive feature that keeps users motivated and can be claimed in the NFT Staking Platform.
Users can generate a passive income and earn incentives from the unique NFT they own as long as they keep it staked with any NFT staking platform.
NFT Staking Platform shares the details about the annual percentage yield (APY) and other valuable information to enhance users' trust in the platform. This, in turn, will add up to the trustability factor of the platform.
Attractive Features Of Our NFT Staking Platform
We integrate third-party APIs, payment gateways, and wallets to improve the platform's efficiency and speed up the entire process.
Staking Rewards Calculator
With our integrated staking reward calculator, users can calculate rewards on the level of inflation, lock-in period, and unique NFT staked on the platform.
To ensure that your NFT staking platform stands apart, we add attractive features such as attractive icons, UI/UX design, an easy navigation interface, and more to gain more attention in the NFT community.
Our NFT staking platform gives the complete idea about how much they will receive in reward. With the payment history tracking option, it’s easy for them to track the incoming revenue and rewards from staking their NFTs.
NFT Security And Protection
To ensure that users enjoy a safe and secure NFT staking experience, we follow well-established protocols and firewall procedures that help withstand any security breaches. Security is one of the most important factors in choosing an NFT staking platform.
Our NFT Staking Platform Development Services On Various Blockchain Networks
Ethereum Based NFT Staking Platform
Ethereum blockchain technology is well known for building smart contracts, dApps, crypto wallets, and other blockchain-based solutions. Our development team assists you in leveraging its unique capabilities to offer investors higher (APY) yield, secure staking, transparent systems, and enhanced platform credibility among investors.
Binance Smart Chain (BSC) Based NFT Staking Platform
Binance smart chain is the most preferred option for someone looking to launch a platform with unchanging gas prices and affordable transaction fees. BSC-based NFT staking platforms are user-friendly and are widely adopted for staking to speed up the network and enhance protection.
Polygon Based NFT Staking Platform Development
Polygon is the best option for building an NFT staking platform that operates on POS protocol. Low transaction fees, fast transactions, and quick adoption are some of the key advantages of launching an NFT staking platform on polygon blockchain.
Solona Based NFT Staking Website Development
With over 50,000 TPS without sharding, the Solana blockchain is well-known for its high performance. Our well-experienced Solana blockchain experts will help you launch a secure, scalable, verifiable, and transparent NFT staking platform based on the Solana blockchain.
Cardano Based NFT Staking Platform Development
Cardano is a third-generation public blockchain with benefits such as quick transactions, reasonable gas fees, eco-friendliness, passive earnings, etc. Our team will assist you in launching an NFT staking platform on the Cardano blockchain that is safe, transparent, steadfast, and decentralized.
NFT Staking Rewards
The NFT staking reward will vary by NFT and the duration for which digital assets are put on hold with a platform.
Most platforms allow users to view their annual percentage yield (APY) to give them an idea of how much return they get on NFT staking sites. However, the APY is different for each platform, and most of them won’t display it but instead expect token rewards, which is kind of the same. NFT staking rewards are mostly in the platform's native utility token. Users can exchange these tokens on exchange with other cryptocurrencies or fiat money.
In addition to lucrative returns, users get additional voting, governance, and other DAO benefits. Most staking opportunities are available on P2E gaming platforms such as Axie Infinity, The Sandbox, Polychain Monsters, Splinterlands, etc. We will cover them in detail in the next section.
Non-fungible tokens and associated technologies are still in nascent stages. For this very reason, most NFTs are bought as long-term investments. With the growing hype around these digital assets, investors are looking for new opportunities and exploring options to earn rewards on NFT platforms. NFT staking is getting popular among investors worldwide due to the potential of this futuristic revenue-generating method. With the upgradation of Eth to Ethereum 2.0, mining is getting replaced with staking using the PoS mechanism.
NFT staking is becoming a popular revenue generation method with proven results, and the prime reason is you don’t have to sell or transfer NFT ownership rights. On top of this, it is pretty simple, just lock up your assets in a staking pool, and you are good to go.
However, before choosing NFT staking as an investment opportunity, here are a few things that you need to keep in mind.
Annual Percentage Yield (APY)
Annual percentage yield (APY) shows the expected returns an NFT owner can get by staking their digital assets for a specific time duration. It is worth noting that some NFT staking platforms might show higher returns on your investments that appear too good to be true and seem tempting. But due to the market's volatility, these interest rates won’t hold up for long, and you will see drastic fluctuations. On the other hand, some NFT staking platforms provide additional rewards for staking multiple NFTs or NFTs with high rarity scores. If you plan to stake multiple NFTs on a single platform, then it is best to go for an NFT staking project with better interest rates.
NFT Collection Selling Price
Although NFT staking seems like a profitable investment idea, there is no point in holding a depreciating asset. Firstly check your NFT collection price, and if your collection has recently seen a price fluctuation, it is better to sell than stake. Staking might seem like a stable investment idea, but you should weigh all the factors and choose what’s best for you.
Check Crypto Market
Most novice NFT traders don’t bother to check the crypto market before cashing out their digital assets and make a loss even after selling at a higher price. Here’s an example for easier understanding. Suppose you buy an NFT for 10 BTC when its value is $30,000 and sell it for 10.1 BTC when its value is $25,000. Even though you are selling your digital assets at a higher BTC value, you will make a loss. Thus, NFT owners need to check crypto market conditions before selling their digital assets.
Total NFTs Staked
Still not sure whether NFT staking is a good idea or not. Then, you can look at the total NFT staked in the project before making your decision. The project's higher number of NFT stakes is a good indicator that NFT owners will hold for the long run. Higher number of NFTs owners reduces the chances of mass selling, especially when there is a fixed lockup period.
Top NFT Staking Projects for 2022
As our team curated the list of top NFT staking platforms, we found that the majority of the opportunities are available in P2E crypto games. Before you plan to invest money in NFT staking platform development, let’s learn about the best NFT staking projects.
NFTX is a popular NFT staking platform that allows users to create their ERC20 tokens backed by NFT collectibles. Users can create a vault on the Ethereum blockchain and create a liquidity pool for any Eth-based NFTs. With this, they are eligible to buy certain NFT within the pool with an NFT-backed token (vToken) and even stake them to earn more rewards. One additional advantage with vTokens is that they have a floor price on NFTX and thus allow investors to price their NFTs.
ShipAge is a community-driven Polygon backed staking platform with a limited collection of 10,000 NFTs. It is one of the newly launched P2E projects that lets users buy NFTs without any gas fees. Each ShipAge NFT has unique traits and can be bought by connecting your digital wallet with the official website. The platform allows users to stake their NFTs and earn rewards in the form of $SAN (platforms utility token)
The next popular NFT staking platform on our list is MOBOX built on the Binance Smart Chain. It is a P2E gaming platform that allows users to earn non-fungible tokens called MOMOs. MOBOX native cryptocurrency is MBOX. Users get MBOX as rewards for staking their NFTs with the platform. Platform NFT token, MOMOs are also available in the secondary marketplace and can be staked daily to earn rewards.
Splinterlands is another blockchain-based card game. In this, players collect cards with varied abilities and use them to participate in battles, liquidity pools, and DAO pools. SPS (also known as Splintershards) is the game’s native token and set up as a DAO on the Binance Smart Chain (BSC).
Doge Capital is a collection of 5,000 NFTs built on the Solana Blockchain technology. The project allows users to generate passive income by staking their digital assets and earning rewards in DAWG tokens. DAWG is a native utility token of Doge Capital. These native tokens are easily available on decentralized exchanges such as Dexlab and Raydium. They plan to launch their P2E games, where users will be rewarded with NFTs and DAWG tokens.
BAND NFT project is created to start a new era for the music industry and give content creators complete control over the distribution process. The project allows users to buy music NFTs and stake them to earn royalties. The stronger the NFT stream, the higher the chances for the NFT investors to earn rewards from the music digital assets.
BabyApes is another project that allows users to stake their non-fungible tokens and earn rewards. The NFT staking project is built on the Solana blockchain, and each minted NFT has its own set of attributes and rarity. Body, headwear, ears, mouth, eyes, and background are some of the basic attributes of BabyApe NFTs. Users will be rewarded for staking in the form of $OOGI.
Polychain Monsters is a blockchain-based non-fungible token project. The platform rewards users for staking in the form of PMON, its native cryptocurrency. Depending upon the rarity and characteristic of the animated collectible NFTs on the platform. The NFTs on the platform are known as Polymon, which users can stake to earn rewards every week.
WhenStaking is another project that is designed specifically for staking non-fungible tokens. The NFT staking platform has created a list of seven NFT collections that users can stake and earn rewards in the form of VOID tokens (the native cryptocurrency of the platform). WhenStaking follows a 1-50 level system and offers better rewards as users climb the ladder. On top of that, users can exchange these tokens with other cryptocurrencies such as Wax or Alcor.
Binance NFT marketplace has already set up its name as a popular platform to buy, sell, and mint NFTs. In addition to this, the platform allows users to stake their NFT, and depending upon how long NFT is put on charge; you will be rewarded. Users will be rewarded hourly, and the rewards will get transferred to your Binance spot wallet.
Why Invest In The Development of NFT Staking Platform?
NFT staking is still a nascent idea. Thus it makes perfect sense to be an early adopter of the trend and launch your own NFT staking platform. Most investors look at NFT as a long-term investment, and for this very reason, these digital assets stay in their wallets for a longer duration. Holding these digital assets for a longer period is a profitable investment idea. But on the other hand, you can use these assets to generate passive income without selling or transferring ownership of NFTs.
We at RisingMax, can help you launch your own NFT staking platform where users can earn money from their unused digital asset collection. Jumping the bandwagon with NFT staking platform development is a futuristic opportunity for budding entrepreneurs. With us as their NFT staking platform development partner, you can tap into the huge earning potential developing now.
NFT staking is still a new concept with huge potential. Earlier, NFTs were only viewed as a long-term investment, but investors are staking their unused digital assets to generate passive income with this platform. NFT investors and collectors worldwide take advantage of these NFT staking projects mentioned above to earn rewards from the NFT collection.
If you are eager to launch your own NFT staking platform and take advantage of this slowly developing profitable business trend. Then we at RisingMax are ready to assist you and handle all your needs related to platform development.