Bankless: How to Make Money with NFTs in a Bear Market?
TechFlow Selected TechFlow Selected
Bankless: How to Make Money with NFTs in a Bear Market?
NFTs are not a one-size-fits-all solution to everyone's financial problems, but they do offer unique money-making opportunities that you simply can't find anywhere else right now.
Navigating Web3 tides with focused insightsWritten by: William M. Peaster
Translated by: TechFlow intern
1. Create Your Own NFTs
Many top players experimented with creating NFTs years ago. Although they didn't have all the answers back then, driven by curiosity, they began creating anyway. Today, many of them have achieved success in the NFT space. Pioneers are called pioneers because they persisted, and their works have become highly sought-after digital collectibles.
So if you're curious and want to create NFTs, perhaps your work could one day reach great heights—but first, you must start publishing to build your portfolio. The good news is you might not have to wait years like the OG NFT creators did to gain attention. With so much interest in NFTs now, you could attract your first collector in a short time!
Fortunately, there are now many NFT tools that make it easier than ever to launch your own NFTs. Popular creator tools include:
Zora – The most Web3-native NFT marketplace protocol. Their architecture offers various DIY NFT mechanisms, such as auction systems, on-chain SVGs, and more.
Manifold – Premier Web3 infrastructure for minting your own creator-controlled NFT smart contracts. Want full control over your own smart contract? Use Manifold Studio, which supports multiple file types and dynamic metadata updates.
Bueno – Offers a suite of no-code tools that allow you to customize art for large-scale PFP NFT collections and deploy custom smart contracts for such projects. Bueno also provides a DIY world-building tool for NFT communities to create engaging activities.
2. Zora Finder’s Fee
Suppose you’re not particularly interested in creating NFTs but enjoy browsing and analyzing others’ work. One option to consider is Zora’s on-chain Finder’s Fee system.
Here’s how it works: Go to Zora.co, log in with your wallet, and start browsing available NFTs.
Once you find a piece you believe is great, click on it to access its Zora dashboard. If the NFT has a Finder’s Fee enabled, click the "Copy" button and share this link. Anyone who purchases the NFT through your referral link will generate you a commission—such as 1% of the ETH paid.
3. Free Mint
This year, free mints have taken over the NFT ecosystem. In other words, an increasing number of projects let people claim their NFTs for free, then optimize around secondary sale royalties.
Some of these projects, like Goblintown.wtf, have delivered incredible returns for early holders. That said, it's fair to say that most free NFT projects today go nowhere, so you probably don’t want to dive headfirst into every free mint.
However, the stakes are low since they’re essentially free, so it might be worth occasionally trying your luck in case any of these projects suddenly take off. The risk here is asymmetric: spend very little upfront, with the rare chance of earning significantly.
If you’re interested, platforms like Mint.fun allow you to browse new free mints.
4. Produce NFT Content
Write articles, compose music, or record videos! Whatever your medium, recognize that content creation holds value—and with consistent effort, you can build an audience.
Don’t underestimate how many people today are eager to learn about and experience NFTs and digital content. If you consistently create content, over time you may be surprised by how many people reach out offering exciting career opportunities, as you’ll have established yourself as an authority in the space.
5. Join an NFT Startup
Being part of a tight-knit NFT team driving meaningful change is often better than being a lone freelancer. Fortunately, numerous emerging NFT projects are hiring for various roles, giving you plenty of options.
Want to become a professional writer? An NFT consultant or advisor? A community manager or designer? Right now, many NFT projects are actively recruiting talent across disciplines, so if you're interested, there’s likely a project eager to hire you.
Pick what you think you’d enjoy, and go for it.
6. Earn Passive Income from Your NFTs
The decentralized NFT marketplace NFTX offers users a novel NFT staking mechanism. This system allows you to earn passive yield on your NFT holdings without exposure to impermanent loss. It’s a user-friendly way to generate compounding returns from your NFTs automatically.
7. Wait for New Opportunities
Will the 2022 crypto bear market be short-lived? That remains to be seen. But the good news is, even if the market turns more bearish, there are increasingly creative ways to earn ETH through NFTs as they become more deeply integrated with DeFi.
One thing is certain: NFTs aren’t a magic solution for everyone’s financial problems, but they do offer unique money-making opportunities you simply can’t find anywhere else today.
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
@WPeaster
