What are the best ways for beginners to make money with NFTs in 2024?

3 answers

• Jan 05, 2022 · 3 years ago
  One of the best ways for beginners to make money with NFTs in 2024 is by creating and selling their own digital artwork. With the rise of NFT marketplaces, artists have the opportunity to showcase and sell their unique creations to a global audience. By leveraging social media platforms and building a strong online presence, artists can attract potential buyers and increase the value of their NFTs. Additionally, participating in NFT drops and auctions can also be a lucrative strategy for beginners. It's important to research and understand the market trends, as well as the reputation of the platforms before investing.
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• Jan 05, 2022 · 3 years ago
  If you're not an artist, you can still make money with NFTs by investing in established artists or popular collections. By carefully selecting NFTs with strong potential for appreciation, you can profit from the increasing demand and scarcity of these digital assets. However, it's crucial to do thorough research and due diligence before investing. Look for artists with a track record of success, consider the uniqueness and rarity of the NFTs, and analyze the market trends. Remember, investing in NFTs carries risks, so it's important to only invest what you can afford to lose.
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• Jan 05, 2022 · 3 years ago
  At BYDFi, we believe that one of the best ways for beginners to make money with NFTs in 2024 is by participating in decentralized finance (DeFi) platforms that offer NFT lending and borrowing services. These platforms allow users to leverage their NFTs as collateral to borrow funds or earn interest. By utilizing this strategy, beginners can generate passive income while still holding onto their valuable NFTs. However, it's important to carefully assess the risks associated with DeFi platforms and choose reputable ones with a strong track record of security and reliability.
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