NFTs or Non-fungible tokens are gaining prominence in the digital world. Investors, art enthusiasts, and celebrities are relying on NFTs to generate a considerable amount of money.
These digital assets are now believed to be linked to the metaverse and are considered a valuable investment tool. In this article, we will particularly focus on NFTs that generate passive income.
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Decentraland
One of the most popular NFTs that generate passive income. It is a metaverse platform whose prominence is due to the selling of virtual reality plots. Even it is expected that the native currency of Decentraland, Mana, is also gaining the value its worth.
The most expensive virtual reality plot of Decentraland was valued at approximately 3.5 Million USD.
Mana is used for several activities:
- Purchase new land
- Customize avatars
- Incentivize the growth of infrastructure
- Buying the wearables
- Different marketplace transactions
As of the latest records of 18th April 2022, the price value of Mana is USD 2.08 and the market cap is USD 3.8 Billion.
The Sandbox
The Sandbox is one of the best NFTs that generate passive income.
The different ways of earning rewards or money using the Sandbox platform are:
- Rent or reward for the usage of land
- Rent earned for lending out spaces for business, advertising or entertainment purposes
Further SAND, the cryptocurrency or token of Sandbox, is used for several other purposes. The key ones are:
- Selling creations in the marketplace like games, artwork or other creative content
- Renting of land
- Completing certain tasks
- Assist in the governance of the platform by claiming a stake in the Sand tokens
As of the latest records of 18th April 2022, the price value of Sand is USD 2.75 and the market cap is USD 3.1 Billion.
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GALA Games
The GALA games is one of the valuable NFTs that generate passive income. The income is earned via GALA, the native token or cryptocurrency of GALA games.
The different ways to earn money or rewards with the help of GALA are:
- Creating different types of games via the NFTs helps in gaining complete control over the digital or virtual assets
- Trading of assets
- Purchasing upgrades
- Purchasing in-game assets
- Governance of the platform
Gala Games has more than 1.3 million users and is considered the world’s largest decentralized network for gamers. One of the features of Gala games that has lured many users to consider it among the best NFTs that generate passive income is the Founder’s nodes.
As of the latest records of 18th April 2022, the price value of GALA is USD 0.19 and the market cap is USD 1.3 Billion.
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Axie Infinity
Axie Infinity is one of the prominent NFTs that generate passive income. The concept by which it operates is to play and earn games.
Axis are little creatures who battle with each other and the users continue to churn on their luck by breeding the rare types of Axies. The creatures are priced at almost 1 million dollars worth. AXS, the native token or cryptocurrency of Axies is used for rewards or passive income.
The best way to earn passive income is to claim a stake for AXS and then earn rewards for locking up the tokens. The rewards are in the form of an interest earned for staking the coins for a certain period of time.
As of the latest records of 18th April 2022, the price value of AXS is USD 44.38 and the market cap is USD 2.7 Billion.
Theta Network
Theta network is one of the rapidly growing NFTs that generate passive income.
The growth has been mainly attributed to online content creators and developers. Online content creators prefer to attain greater control over their videos. They want to understand how their creations are being consumed and monetized. The developers use the Theta network to create decentralized applications for various kinds of purposes like royalty distribution, crowdfunding, etc.
The native token or cryptocurrency for the network is THETA. Users can claim a stake on Theta to earn TFUEL as a reward. They do so to become Guardian nodes or Validators. Theta is used for promoting governance and TFUEL is used for transactions.
As of the latest records of 18th April 2022, the price value of THETA is USD 3.04 and the market cap is USD 3.04 Billion.
Enjin
Enjin is a gaming company that is considered to be one of the greatest NFTs that generate passive income. It has over 18.7 million registered gamers and 250,000 gaming communities and is the largest online community platform.
The native token or cryptocurrency of Enjin is ENJ. The different ways one can earn ENJ are:
- Through playing games
- Buying and selling digital goods
- Participating in different activities that can be promoted through the ENJ blockchain platform
- Staking ENJ coins to earn interest on the balance supported in a wallet
As of the latest records of 18th April 2022, the price value of ENJ is USD 1.46 and the market cap is USD 1.2 Billion.
Polygon
Among the metaverse blockchain platforms, Polygon is one of the best NFTs that generate passive income.
MATIC is the native token for Polygon but it is not a gaming token like other coins or cryptocurrencies. Through MATIC, the network has been gaining momentum and is being widely used in blockchain gaming projects. The token is used for claiming stakes, fees, and governance too.
Polygon is currently transformed into among the list of highest mediums for earning passive income. It runs along with the Ethereum blockchain leveraging its sidechain or layer two scaling solution.
As of the latest records of 18th April 2022, the price value of MATIC is USD 1.42 and the market cap is USD 11 Billion.