March 28, 2023

What NFTs will make me money?

Fraser Bell

Welcome to our introduction to NFTs and how they can make you money!

If you're new to the space and interested in learning about the potential of NFTs, you've come to the right place. In this blog, we'll explore how NFTs can generate revenue and provide some tips for beginners looking to get started. If you’re a content creator curious about NFTs, check out MintStars and feel free to contact us!

How does an NFT make money?

You can either make money from NFTs by creating your own collection which you sell to NFT buyers or by buying and selling existing NFTs for a profit.

As a creator, people might buy your NFTs because:

  • They like the artwork your NFT represents
  • To be part of a community of other fans and buyers
  • To show support for you or your brand
  • To unlock exclusive benefits offered to buyers
  • In the hope that they can resell the NFT for more money at a later date.

Huge brands like Adidas, Porsche, and the NFL have all launched a number of NFT collections for this reason. Individual celebrities like Paris Hilton, Snoop Dogg, Tony Hawk, and Travis Scott have also sold NFTs. These have attracted eye catching prices - Emily Ratajkowski sold a single image of herself as an NFT for $175,000 in 2021. In many cases, buying the brand or celebrity's NFT gives access to exclusive merchandise, events, online forums and content. In the NFT world, these benefits are typically referred to as “utility.”

Investing in this type of NFT can be seen as speculating on the future popularity of the NFT, the celebrity or the brand, as well as the desirability of the benefits being offered to NFT buyers.

NFTs can also represent ownership of physical assets, such as real estate, high-value sneakers or artwork. In this case, the NFT is simply the digital certificate of ownership for the real-life asset, with the record stored on the blockchain. When an NFT represents this type of asset, buying or selling the NFT to try and make money is a way of speculating on the value of the physical asset.

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