Non-fungible tokens and other digital arts have become a way for digital artists to make huge money.
It does not matter if you are an amateur or have five years of experience. What matters is that whatever experience you have with digital arts, you have a fair chance of making money with it online.
How is this possible, and what are the channels for monetizing digital NFTs and arts? Continue reading this article as we explain how.
This is one of the major ways people make money from selling digital art. Royalties are the amount of money the original creator of the NFT gets whenever it is resold in a secondary market. This happens after the original owner of the NFT might have sold it off in a primary market. Whenever the new owner of the NFT sells it again, they receive some percentage of the sale.
This is one of the endless methods of earning money from selling digital art, as the number of percentage earnings is endless. The original owner of the NFT can attach a percentage sale they like before making the first sale of the NFT. This is very good as one can create art using digital art software and make money endlessly.
Gamification has become an area that owners of digital arts are now focusing on. There are many games whose ecosystem uses NFTs, and NFT owners can hugely earn from this.
For instance, for a game like Axie Infinity, players who own digital art can buy and sell NFTs to make profits. From another perspective, NFTs are often used as rewards in this gaming platform. So players can earn these NFTs as rewards and swell them off to make a profit.
This business is lucrative for gamers, who can easily do what they like and earn money. Apart from playing games, other fitness apps offer NFTs as rewards to those who complete their daily objectives. You may consider installing these apps and making money from them if you walk a lot.
Using Dynamic NFTs
Those who create NFTs using digital art software know that some NFTs change occasionally. These types of NFTs are known as dynamic NFTs, which can be used or make vast amounts of money. In most cases, an AI NFT generator is used to create these NFTs, and they have many features that make them expensive to own.
When an NFT creator might have used an AI NFT generator to create a dynamic NFT, they can auction these NFTs and wait for the highest bidder. Since the NFT changes from time to time, many NFT creators run them as a subscription service and change the owners of the NFT with time.
Fractional ownership of non-fungible tokens is another way NFT creators can earn money from their NFTs. There are people out there who are desperate to lay their hands on an NFT. An NFT creator can utilize the desperation of these people and offer them a stake of ownership in a collection of NFTs. For instance, assuming there are 100 NFTs in an NFT collection, an NFT creator can sell each of those NFTs to buyers. This allows them to have collective ownership of the NFT collection.