NFT Staking - The Best Source for Passive Income
NFT Staking has become the newest trend of generating passive income using blockchain technology. Do you know what NFT staking is? Read the blog to find out about it and the best NFT for Staking.
There's so much about Non Fungible Tokens(NFTs) on the internet. You must have heard or come across articles related to the future of NFTs, the best NFT projects, etc. One more term belongs to the same family: NFT Staking.
As the wave of digital art hit the internet, new methods of earning developed, and people started creating and selling digital projects for millions of dollars.
NFT Staking also became a popular way of generating passive income and drew people's attention from all across the world.
What is NFT Staking?
Assuming that you know NFT, the term NFT Staking defines the act of reserving/locking non-fungible tokens on a certain platform or exchange to get staking rewards or other benefits without sharing the ownership.
In simpler terms, it is like holding your NFTs on a protocol or platform that rewards the holder for staking their NFTs in terms of cryptocurrency or any other form without disturbing the ownership status of the NFTs.
Utility of NFTs
The early introduction of NFTs came surrounded by a buzz about their potential to revolutionize art collecting.
NFTs started gaining momentum after a few such non-fungible tokens containing art made it to the news. Among the few was Beeple's NFT Artwork - "Everyday: the First 5000 Days", which was sold for a whopping $69 million in March 2021 and created history.
Other than art, NFTs found their way to Play to Earn games, where players are rewarded with the ownership of unique in-game assets as NFTs.
How did NFT Staking take off?
Since NFTs are unique, and no one can alter their traits, the non-fungible tokens became ideal for HODL strategies.
Staking allowed people to monetize their NFT collection, and Hodlers started looking at their non-fungible tokens in different p[latforms to claim different kinds of staking rewards.
But who gives the rewards?
When a person stakes their NFT(s), it involves 'locking' the unique tokens in a digital wallet to support the network's operations and security in exchange for rewards. Staking platforms use a Proof of Stake technique for this purpose.
The Best NFT for Staking - Trimurti NFT
You might have already started looking for the Best NFT for Staking in 2022. Since there are so many NFT projects launching every day, it is hard to find which NFTs are going to appreciate in value over time.
Based on the fundamentals of the project, Trimurti NFTs are highly expected to offer huge rewards to the hodlers.
If you are searching NFT for Staking, the Trimurti NFT is worth considering for its systematically designed passive income module.
You can stake these NFTs on Zionverse to start claiming your rewards. Join our discord channel for the latest updates to know more about Zionverse and Trimurti NFTs.