Earn Crypto With MetaBlox NFT Staking
MetaBlox’s miner-pegged NFT is coming soon, and holders will start collecting cloud-mining profits from them December 12th, 2022. But prior to cloud mining coming online, NFT staking will be available. This special utility is another way to earn crypto with your miner-pegged MetaBlox NFT. Read on to learn how to make money with NFT staking.
NFT Staking: What is it?
NFT staking works in a way that is similar to crypto staking. Traditionally, cryptocurrency stakers lent to liquidity providers in exchange for rewards through interest or the transaction fees absorbed by others.
With NFT staking, you’re rewarded for adding your NFT to a protocol or platform. You then receive periodic rewards in return for that action while the NFT is staked. Thus, you can earn more ROI while staying the owner of your NFT. How much crypto you earn from NFT staking depends on how long your NFT is staked for.
Like crypto staking, with NFT staking, the holder typically decides their staking period among a few options. This period is how long their NFT remains staked. Sometimes, NFT staking is flexible, where the holder can withdraw their NFT at any time and keep all staking rewards it earned until then.
Some staking platforms also let NFT holders lock their assets into a DAO (decentralized autonomous organization) pool, much like crypto holders do with their tokens. In this case, the staking pool is known as an NFT staking pool.
How To Make Money With NFT Staking
To start NFT staking, you need a crypto wallet to hold your NFT, as well as an account on a crypto platform with NFT staking. There are many different NFT staking services, such as Binance’s fan-token staking. In MOBOX’s gamefied Metaverse, you can find and stake NFTs.
You simply have to connect your wallet, via its address, to the given staking platform to claim rewards from NFT staking. It’s important to remember that although you may earn tokens for each day your NFT is in a staking pool, token payouts may occur less frequently. For instance, tokens earned from NFT staking over seven days could be deposited weekly, depending on the NFT’s rules.
Staking NFTs With MetaBlox
To be released on September 6, 2022 on OpenSea, MetaBlox’s utility-NFT can be staked for $MBLX token rewards.
Any MetaBlox NFT holder will be able to deposit their NFT into a staking pool starting September 12, 2022. Staked NFTs will earn holders daily $MBLX token rewards which will be deposited in crypto wallets on December 12th. With flexible staking, holders will be able to withdraw their NFT from the staking pool at any time and keep the tokens earned from staking up until that point.
Learn how to stake your MetaBlox NFT in our staking guide!
A New Way To Earn Passive Crypto
NFT staking is becoming a popular alternative to traditional crypto staking. It’s another easy way to earn passive income through small initial crypto investments.
And while the MetaBlox NFT features NFT-staking, this is just one of the Web3 utilities it is equipped with. For more info on this special NFT, join the MetaBlox community on social media.