What Is NFT Staking and How Does It Work? | Binance Academy

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True or false - you can stake NFTs to earn passive income. Answer is in here ⬇️

This article is for educational purposes only. Binance has no relationship to these projects, and there is no endorsement for these projects. The information provided through Binance does not constitute advice or recommendation of investment or trading. Binance does not take responsibility for any of your investment decisions. Please seek professional advice before taking financial risks.NFT staking is a new way to earn passive income in the crypto world.

At the individual level, NFT staking can benefit investors, as the overall supply tends to be lower. But in a broader context, NFT staking brings new use cases to NFTs that go beyond the idea of collecting digital art., most people think of them as digital representations of art pieces and collectibles that could potentially grow in value over time. Some NFT projects share part of the revenues they get with the community of NFT holders.

rewards and other privileges. This allows NFT holders to earn a passive income while still maintaining ownership of their NFTs.concepts, they work in a similar way. By locking up NFTs on a platform, you can receive rewards depending on the annual percentage yield , the staking duration, and the number of NFTs staked.and speculate.

 

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