Should you staking an NFT?

Hence, users can reduce the worry of fraud. If you’re holding onto an NFT that qualifies for staking, and don’t have plans to sell the NFT anytime soon, staking can be a great opportunity to put your idle asset to work and earn some rewards.

What is nftx & how does it work?

NFTX is a liquidity platform that enables NFT investors to purchase, sell, stake, and swap NFTs under one roof. Its primary appeal is a blend of traditional NFT staking that exposes you to blue chip NFTs, such as CryptoPunks and Cool Cats, through fractional ownership. In other words, you can become an NFT investor without actually holding an NFT.

What rewards can NFT Holder get for staking a collection?

The type of reward NFT holders can get for staking their collection depends on the platform used and the type of NFT staked. The majority of platforms that allow users to stake NFTs offer daily or weekly rewards.

What is the difference between NFT and crypto staking?

While in crypto staking, the amount of yield you generate in absolute terms depends on the size of your stake and its duration (32 ETH staked will generate more ETH per year than 16 ETH staked), with NFT staking, your APY (Annual Percentage Yield) is calculated a bit differently.