Even though cryptocurrency has been around for a long time, it has only recently received widespread attention. NFT’s in our case is one area where Staking has seen massive attention. Your NFTs are a wonderful source of continuous revenue whether you’re holding them for future growth or selling them every week.
NFT projects and platforms now provide a variety of options to generate extra money from collectibles that would otherwise be idle in your wallet.
Also, it couldn’t be more easier to get started today, especially in 2022 where there are so many good NFT projects that allow for Staking rewards.
Today, in this article, we’ll look at the top 10 NFT Projects for Staking and generating Passive Income
CyberKongz is a set of randomly generated social avatars featuring weird and unusual ape characters. The collection was released in March 2021 with only 1000 tokens, and it rapidly sold out.
The project’s goals and roadmap was subsequently expanded to include the $BANANA token, which attracted a lots of following upon the project. Holders of an original, genesis CyberKongz NFT can earn 10 $BANANA per day for the next ten years!
That $BANANA Token can be collected and sold for a profit in various Crypto-currency exchanges in return for Fiat Currency or a different crypto coin. Although this is a small-scale project, it has the potential to be quite huge. At current market rates, that’s a daily yield of $40 per day or a yearly yield of $14,400 Dollars Per Year!
Now if you own around 10 Genesis CyberKongz, you can just 10X your daily earnings, meaning you’d earn $400 per day or $144,000 Dollars USD per year. Not bad for just doing nothing, and letting your Genesis Apes earn money for you!.
2. BAND Royalty
The NFT ecosystem is still relatively new, so there are a number of exciting applications yet to be developed. One such use is BAND Royalty, which is one of the most innovative applications of NFT technology to date.
It allows music enthusiasts and fans to acquire tokenized royalties for their favorite songs. Owners of tokens will share in future profits and the royalties they receive.
They began with 3000 BAND NFTs and they now have a long-term objective of 12,000 NFT’s. This maintains the community and earning potential for owners.
The collection royalty pool is also available to token owners. Staking your NFTs to this pool allows you to take home a bigger piece of the royalty income.
The staking periods range from 90 days to 5 years, with higher rewards for longer lock-up durations.
With the good news that the project has already collaborated with famous artists like Jay-Z, Justin Timberlake and Beyonce.
3. Axie Infinity
Axie Infinity is the most well-known play-to-earn NFT game inspired by Pokémon and other turn-based tactics games.
Players can battle, trade, power up, and breed their tokens in Axie Infinity.
The governance and staking token, Axie Infinity Shard (AXS), and in-game money Smooth Love Potion (SLP) are all rewarded to players who make an initial investment to play the game. However, players will need at least 3 Axies in order to play the game.
Getting on the leaderboard through simply playing the game and being able to improve on it is a potentially attractive way to progress through the game, as AXS provides a decent value of its own and the fact that you earn money as well.
AXS can also now be “staked” (https://axie.substack.com/p/stake) to earn AXS rewards, which means, you can choose to hold and stake your AXS Tokens for passive profits!.
4. The Sandbox
The Sandbox is a metaverse platform that allows users to interact online, own virtual real estate and property, and even profit from their own work.
The platform is built on the Ethereum blockchain and uses $SAND, a cryptocurrency that can be earned and staked to provide liquidity. This provides an annualized return with a very high APR for stakers.
NFTX, on the other hand, is something a little unusual: it enables users to create their own ERC-20 tokens with NFTs used to issue value.
Users can deposit their NFT into the vault, after which they may create their own ERC-20 collection of tokens with a value calculated from the NFT.
To generate passive income, investors can use “vTokens”. These “vTokens” may then be utilized in a variety of ways to produce recurring revenue. Staking is by far the most popular option in their platform.
Staking vTokens earns rewards passively and may also be pooled into Automated Market Makers to assist with creating more critical liquidity.
Splinterlands is a well-known NFT game in the cryptoverse. Similar to card games like Hearthstone and Magic The Gathering, Splinterlands has players compete with each other using collectible decks with various strengths and abilities.
Each card has set stats that, when used appropriately, can aid you in winning battles. These abilities include typical themes such as attack power, armor, and speed, which will be recognizable to prior card game players.
Players earn Dark Energy Crystals (DEC) by defeating enemies, and winning players as a prize. These tokens, when paired with $SPS, may be used to improve the odds of receiving bonuses via airdrops.
Aside from being entertaining to play, Splinterlands also allows players to gain money passively. In-game activity generates “Splintershards” ($SPS), which may be utilized to interact with the Binance Smart Chain.
The SPS token is used for ranked matches betting, yield farming in liquidity pools, and staking for governance voting on the DAO.
7. Famous Fox Federation
The Famous Fox Federation is a group of 7,777 fox-based avatars in several costumes who live on the Solana blockchain.
The initiative is one of the most well-established NFT projects on Solana and serves as an encouraging expansion of collections beyond Ethereum.
Holders are able to stake their Fox tokens and receive $FOXY coins by participating in the project. The website of the initiative allows users to claim these coins, which may be exchanged for future mints and other functions like “Dens,” which is a famous Fox real-estate property.
Foxes can also be deployed on expeditions, resulting in treasure chest tokens that are worth a lot of money.
8. Wolf Game
Wolf Game is a play-to-earn NFT game with deceptively simple mechanics that opens up to deeper strategy and gameplay, similar to Axie Infinity.
The game theory foundation for the project is a social science subject that examines the interaction of competitive, but rational individuals.
The game focuses on risky decision-making, with players having Wolf or Sheep NFTs on Ethereum. Minting requires $WOOL, and players don’t know what token they’ll get.
You can stake your token into the barn if you mint a Sheep. This will provide you with $WOOL passively. In terms of “taxes,” owning a Wolf also earns $WOOL passively. This ERC-20 cryptocurrency has a good market value and provides a nice risk/reward ratio.
MOBOX is a metaverse in the making that allows players to earn passive income by playing a play-to-earn NFT game.
The MOMOs, or NFTs, are both available for purchase, sale, and minting. Each has its own “hash power,” which determines the yield when staking your MOMO. $MBOX is the token received after staking your MOMO.
The simplicity of minting a MOMO and receiving money right away is further aided by the fact that it is automatically staked as soon as it is created, providing users money right away.
Your MOMO will have a beginning hash power, but more uncommon tokens may improve their standing and earn even more $MBOX. With $MBOX having an real -world USD value, this is a simple and passive approach to generate money with NFTS.
An exchange for NFTs, reNFT has enabled users to loan out their digital assets for fixed fees and durations, making it a brand new idea. reNFT is the first rental platform to launch in the market, yet it also opens the door to a slew of passive revenue opportunities.
The procedure is straightforward. Lenders place one or more NFTs, define their rental price, a collateral price is determined, and a maximum rental period is specified once they’ve connected a suitable wallet. The reNFT-escrow service then secures the NFTs. Renters may borrow NFTs for a specified duration.
This, and subsequent projects will undoubtedly be very popular in the NFT gaming industry, where players may not (or can’t) desire to invest money in token ownership. Players might eventually be able to lend strong items like as-game weapons to do hard chores, or borrow a metaverse cosmetic for a virtual event.
The potential of platforms like reNTF is still being determined, but they are built from the bottom up to offer passive income to investors.