What is NFT Staking? Best NFT Staking Platforms! – You must have learned a lot about NFTs recently, watched videos, and read the news. There is talk of NFT and NFT sales almost everywhere.
One of the newest concepts about NFTs is NFT staking. Many NFT producers and investors use staking to make money. In this content, you can learn more about NFT staking and the best NFT staking platforms!
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What is NFT Staking?
NFT staking is locking NFTs on a platform to earn rewards or earn passive income. Locking unique tokens allows you to earn rewards or passive income that the platform provides.
Although NFT staking is still a new concept, many NFT manufacturers or collectors resort to this method. In this way, you will continue to generate income while protecting your unique tokens. For example, when you stake a valuable NFT from a game, the annual interest rate can reach 80%.
On the other hand, I should point out that there are very few platforms that will allow you to stake NFTs that you produce yourself or purchase from an artist.
NFT staking is one of the most attractive ways to evaluate NFTs earned in-game. At the same time, since it is a new system, it is clear that it will undergo many changes and developments. Therefore, you may need to do good research before investing.
NFT staking is similar to cryptocurrency staking. Blockchain platforms running on the Proof-of-Stake protocol allow NFT staking. It is possible to earn a good passive income, especially with NFTs earned from games.
How NFT Staking Works
When you hold your NFT on a particular platform, you are usually rewarded with that platform’s native currency. With this feature, it differs from staking cryptocurrencies. It is often very profitable to use NFTs, which you expect to increase in value in the future, with this method.
You can easily complete all stages through NFT staking platforms. However, I should also remind you that there is an important disadvantage regarding NFT staking.
When you lock your NFT, you cannot use it until the time you specify in the contract. For example, you staked your NFT and it was valued after a while. However, you may miss this opportunity as the lockdown hasn’t come due.
Best NFT Staking Platforms in 2022, 2023
Each of the NFT staking platforms has a different reward, commission, and earnings rates. Therefore, you can make an advantageous choice by browsing at least a few platforms. Also, not every NFT is eligible for staking.
Therefore, choosing the right platform to lock your NFT can take time. Here are the best NFT staking platforms you can choose!
NFTX
In the selection of the best NFT staking platform, NFTX stands out with its easy-to-use and advanced security features. NFTX makes it possible for NFT holders to use ERC-20 tokens for staking.
At the same time, users have the advantage of generating their NFTs in a 1:1 ratio, issuing and trading ERC20 tokens. So when you stake an NFT in the vault, you can earn 1 vToken.
It is also possible to use the vTokens you earn to get a new NFT from the vault. Also, NFTX v2 was recently released. NFTX V2 promises users more convenience and freedom. However, it is not possible to use or stake new safes unless you are a liquidity provider in V2.
KIRA Network
The best NFT staking site to earn $KEX tokens is Kira. At the same time, Kira allows you to break up your NFTs into small chunks. In this way, each part is called an individual NFT.
On the other hand, the platform still manages to make a name for itself with its innovations. You may hear the name Kira more often in the coming period.
Another noteworthy part of the lease is that it offers a lockdown facility for cryptocurrencies and other digital assets. Also, $KEX holders can benefit from a low commission rate on the platform, etc. rewarded with benefits. Finally, Rent has a 1:1 ratio.
mobox
Based on Binance Smart Chain, Moboc has the play-win principle. When Mobox players stake their NFT, they get different rewards from the platform’s native cryptocurrency Mbox. Also in the metaverse, Mobox, Momoverse, and NFTs are referred to as Momo.
Each momo has a different hash rate and each one is unique. The number of Momo users collect is directly related to the prize they will win.
It is possible to say that it is one of the best because it is a community-oriented platform. On the other hand, if you are looking for a platform where you can have fun and earn while playing, it can be one of the best choices.
SplinterLands
Blockchain-based SplinterLands will be an important choice for those looking for the best NFT staking site. It is one of the most popular options especially if you are looking for a platform where you can earn while playing.
It is possible to increase the value of your cards by constantly improving them in the game. The more valuable your card is, the more you earn. As a result, you are rewarded with the platform’s local currency SPS.
Every single card you have in the game is NFT. Therefore, you need to stake your winning cards to share with other players and earn money. When you stake, you can earn the platform’s local currency. At the same time, $SPS tokens are distributed daily by the platform.
Axie Infinity
Axie Infinity, one of the most popular NFT games, has just announced its NFT staking feature. However, it is possible to say that it has seen a very high demand since the first day. I should also mention that it works on the play-win principle.
Moreover, even if you do not stake NFT, you can convert the tokens you earn in the game into cash every two weeks.
Axie Infinity looks like a Pokemon game. Players earn Axie Infinity Shards ($AXS) as they develop their characters and cards. You can also stake characters you’ve earned or increased in value. The platform sets itself apart from its competitors with an 80% APR. However, the annual interest income may decrease in the future.
zookeeper
In the decentralized financial market (DeFi), Yield Farming platform Zookeeper takes its place among the best NFT staking platforms. As the name suggests, you develop various animal characters in the game, making them valuable.
You can take advantage of annual interest by staking the cards you have developed or using the rewards offered by the platform. Generally, lockdowns of five or more months will earn you more.
Read Also: 10 Best Free Android NFT Games 2022 !
What are NFT Marketplaces and How to Trade?
One of the most important advantages of Zookeeper is that it allows dual yield farming for the liquidity pool. This way, you can win twice as many rewards. You can also earn WanSwap Liquidity Provider (WASP) or Zookeeper token ZOO when you stake NFT.
WhenStaking
dApp development studio Onessus has largely met expectations with WhenStaking. The long-awaited WhenStaking allows you to stake NFTs from different games on a single platform.
It also earns $VOID for each staking. Since it is a new platform, it only allows staking for NFTs earned from Onessus games. However, it is expected to be opened to every metadatabase very soon.
WhenStaking has 80% APR rates for staking. In addition, the income you will earn for long-term staking transactions increases.