NFT is a developing technology that will reach new heights in a few years. Making the present an excellent time to enter the NFT business and start investing in Web 3.0 projects. Here you’ll find some NFT business ideas for 2022.
Since the initial assets backed by non-fungible tokens (NFTs) were released, the hype surrounding these digital tokens has existed until late 2021. At that point, everything became an explosion, and NFTs were suddenly everywhere.
Although the current version of NFTs may elicit some scepticism, most of it will be dispelled once the true potential of those virtual tokens is revealed. Consider these NFT business ideas that benefit both the crypto world with functionalities and diversity and the entrepreneurs with big profits.
NFT Business Ideas
As a nascent industry, the sky is truly the limit when it comes to potentially money-making ideas with NFTs, but here you’ll find what may be the best ideas:
1. NFT Launchpad Business
This is where NFTs can be efficiently mined, marketed, and launched. A launchpad NFT business idea helps small-time creators who do not have enough funds to launch and promote their creations on their own.
Launchpad NFT companies can benefit from the sheer number of creators eager to enter this space and the genuine support their enthusiasts provide.
This platform can also be used with fundraising models such as initial coin offerings (ICO), initial exchange offerings (IEO), and initial NFT offerings.
NFT pad, NFTLaunch, and NFTb are some of the significant launchpad portals.
2. NFT Online Course
Consider creating a course or masterclass to help newcomers get up to speed on the NFT ecosystem and how to mint, produce, and sell them if you have consistent knowledge.
Depending on your content and investment length, you could charge attendees for a week-long boot camp or a semester-long course.
3. NFT Marketplace Business
This kind of marketplace is a site where users can develop and trade NFT-based products. These portals can sell either generic or niche items. The current boom has aided in the growth of the NFT marketplaces, which will be relevant indefinitely regardless of the situation.
Some essential features of a marketplace as a business include a seamless user interface, high-quality products, and enhanced security features. As a result, this is one of the most profitable businesses in the NFT field.
SuperRare, Axie Infinity, OpenSea, Raible, Sorare, and Solsea are some of the most popular NFT marketplaces.
4. NFT Forum
More forums for NFT creators, sellers, and enthusiasts to discuss their projects are needed on the internet. Creating an NFT-exclusive forum that competes with Bitcointalk could be a very profitable venture, especially if you run banner ads.
5. NFT Staking Platform Business
An NFT staking platform allows users to lock their NFTs for a set period in exchange for rewards. Staked NFTs can guarantee that liquidity exists in the world of NFTs.
In contrast to the energy-intensive proof-of-work (POW) concept, these platforms use the proof-of-stake (POS) principle for staking, which reduces energy costs.
Most NFT staking businesses are currently part of blockchain games like Axie Infinity, The Sandbox, and Splinterlands. This is because, aside from digital artworks, most of the NFT business market is devoted to in-game assets.
6. NFT Newsletter
There aren’t many, if any, NFT-themed newsletters that go in-depth on the topic. However, you could have a very profitable venture if you compile the latest NFT news, press releases, significant auction sales, and market developments into a short monthly or weekly newsletter.
For this kind of business, its SEO must be as good as possible since it is the best way to achieve organic traffic and a good ranking in search engines. Of course, you can start with some SEM (paid publicity), but your page won’t grow over time without SEO.
For this reason, it may be good to consider hiring a digital marketing agency to take care of your page’s optimization.
7. Physical Asset NFT Business
A physical asset NFT business is one in which physical assets backed by NFTs can be easily traded. In this case, NFTs prove ownership and authenticity of physical assets. Physical assets sold as NFTs can be anything, but physical artworks are the most common.
The sale of plots of land as NFTs has been investigated. However, the regulations that the real estate sector is bound by make it challenging to integrate NFTs, which could be a game changer if implemented.
In general, because NFTs are not well understood, tying tangible assets to NFTs can be a massive challenge, and only a few NFT businesses have taken the difficult path. Nevertheless, this is the most valuable business idea, and you will profit handsomely from it.
8. Become an NFT Artist
Even if you’re not the most talented physical artist in the world, nothing stops you from creating abstract digital art. The art can then be converted into an NFT and sold on popular forums like Reddit, DeviantArt, or Wetcanvas.
9. NFT Game Business
An NFT business based on games, also known as Game-Fi, is one in which a game runs with in-game assets in the form of NFTs that can be traded. These games are based on the play-to-earn model, which allows players to earn money while playing the game.
This model is used by games such as Axie Infinity, Sorare, Gods Unchained, and The Sandbox. As gamers actively adapt to blockchain-based gaming, in-game assets have opened up a large business avenue in the NFT world.
If you want to make a long-term impression in the NFT world, an NFT business idea based on a game is probably the best option.
10. NFT App
Apps for buying, selling, trading, or even minting NFTs are likely in high demand. If you take a commission on every sale, an app similar to Bid Beacon or BiddingOwl but focused purely on the NFT market could be a very profitable project.
11. Metaverse NFT Land Business
A recent domain is an NFT business based on lands in the metaverse, where users can buy virtual plots of land on the metaverse platform. Since celebrities flooded the NFT space, metaverse games like Decentraland and The Sandbox have already made huge profits selling such lands.
NFT companies have ventured into the uncharted NFT real estate and building sector, where people can buy virtual lands in the metaverse environment. However, such ventures are still totally unregulated, and a business owner should be prepared to pave the way and adjust to new legal requirements as they emerge.
12. Whitelabel NFT Service
A Whitelabel NFT service is one in which a company creates, markets, and develops the roadmap for another company’s NFTs. This is classified as a business-to-business (B2B) transaction. A company creates and uses an end-to-end solution for an NFT collection (such as pixelated art or comic universe).
Although the business concept is similar to building Whitelabel platforms for NFT marketplaces, the outcomes are entirely different this time. The concept can benefit ventures with exciting content that want to enter the NFT space.
Conclusion
NFTs have unquestionably become the ideal business model for entrepreneurs. You can start a variety of businesses with this emerging technology.
With the increased use of NFT platforms, businesses can choose from various NFT-based strategies. For example, you can hire a specialized NFT marketing agency to position your project and just focus on its development.
So it’s time to start implementing and implementing impressive NFT business ideas to drive more profit to your table.
