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This blog will find your answers if you have been wondering about the Best Passive Income NFT Projects for 2023. There’s a traditional method of earning via NFTs through staking, royalties, becoming an early investor, and yield farming. As the world continues to grow crazy over the phenomenon of NFTs, developers have consistently aimed at adding value.
Today, many projects have started that offer much more than just NFTs, with newer ones adding the chance of earning consistent passive income after you buy NFTs. Some of the projects help you make via tokens and coins. Let’s understand passive income NFTs more and find out some of the Best NFTs for earning passive income.
Top 7 Passive Income NFT Projects List: Overview
Most of the NFT projects work on their Tokens or Coins. This is where they add utility. Rather than having the NFTs sitting around in a portfolio, the platforms have started creating more ways to earn coins and tokens and multiply the crypto wealth. NFTs with passive income are of the following types: NFT Collection Coins, NFT Game Coins, and NFT Platform Coins. Let’s peek at the cream from the best and most popular Passive Income NFT Projects.
The 7 Top Popular and Trusted Passive Income NFT Projects 2023
1) CyberKongz: The First Passive Income NFT
CyberKongz was the first-ever NFTs to use the passive income model using coins or tokens. These are avatars featuring randomly generated ape characters. The NFTs, originally 1000 tokens launched in March 2021, were sold-out instantly. The original ‘genesis’ CyberKongz token holders earn 10 $BANANA Token daily for the next 10 years. The tokens can help add bio and characteristics, rename NFT, or breed.
You can also hold and accumulate the NFTs or tokens. The value of $BANANA Token as of May 11th, 2022, is $4.28. The tokens are also essential to grow Baby CyberKongs – the next generation of the NFTs.
2) The Sandbox: Most Trusted & Popular NFT Brand With Passive Income Opportunity
The Sandbox is a creator-centric game. Being a community-driven platform, users can monetize their gaming experience and voxel assets on the blockchain. There are several ways of earning passive income on the platform, like renting out their land. It includes business, entertainment, and advertising spaces.
The users who create games and assets can sell those to earn $SAND, the Ethereum token of the Sandbox game, currently valued at $1.71 (May 11th, 2022). You can also stake the tokens to earn passive income while assisting in the game’s governance.
3) Decentraland: Virtual Land NFTs With Passive Income Opportunities
Decentraland is a first-of-its-kind virtual world entirely owned and created by its users. The Decentraland virtual reality plots of this metaverse saw vast popularity owing to the $3.5 million value plot. The platform uses $MANA as its native currency. Decentraland is the dream for investors in the metaverse.
Naturally, the most significant avenue of Decentraland NFT’s passive earning is through buying and selling the lands. The land NFTs come in 16m x 16m unique and irreproducible land parcels. The lowest price of a parcel goes around 5000 MANA. Since the number of lands is 90,000, the value will consistently rise.
Users can also sell clothes and wearables which they have designed themselves. The market works precisely like the real-life clothing and wearable market. There is also a play-to-earn model and freelance opportunities in 3D modeling, wearable creation, coding, making videos and art, etc. NFT’s Earning opportunity also arises through virtual hosting, with a fixed rate of $200 per month.
4) Axie Infinity: The Gaming NFT With Passive Earning Potential.
Among the most popular play-to-earn battle games is Axie Infinity. This NFT gaming platform offers amongst the freshest and most immersive Passive Income NFT Projects. The gameplay involves Axies, the little creatures, battling out each other. The trading and powering-up of the Axies in this ultimate battle experience metaverse game further improves the NFT earning capabilities. Axies are the creatures of this metaverse that the users can breed.
Some of the rare Axies have ended up being worth a million dollars. AXS is the in-game token that is used for governance as well as gameplay. You can use AXS for staking, earning interest on the tokens staked in the crypto world. AXS is currently at $24.77 (May 11th, 2022). Smooth Love Potion is a reward token, an in-game currency, that is now earning value outside the game too.
5) Bored Ape Yacht Club NFT: Passive Income NFT Project For Serious Investors
The Bored Ape Yacht Club is one of the NFTs that have gone viral over the last few months. Consider this, the bored ape NFT was launched at $200, and currently, it is selling at $142,000 on OpenSea. The NFTs are now a status symbol, with several celebrities like Eminem, Timbaland, and Neyman Jr owning them and displaying them as their Twitter DP.
Naturally, the interest in NFTs has increased. Like the original 10,000 Bored Apes, the scope of earning passive income through staking has grown immensely. Since the price is ever-increasing, selling them is instantly profitable, especially if you bought them early. Also, the NFT royalties through bored apes are immense.
6) Mobox: Top Play-To-Earn Passive Income NFT Project 2023
Mobox is a play-to-earn NFT platform that allows several NFT games on the platform. The platform stands out from others because they are automatically staked upon minting MOMO, the platform token.
Thus, you earn from staking without having to make a conscious effort. MOMO, in turn, helps earn $MBOX, which has value outside the metaverse in the real world. MOMOs have hash power; the higher power means a higher value. That, in turn, affects the $MBOX value of the MOMO.
7) ReNFT: First Rental Platform In The Metaverse With Passive NFT Income Opportunity
Re NFT is the first rental platform in the metaverse that has opened the floodgates to several of such upcoming platforms. They are, for this reason, among the best NFT Projects for Passive Income.
ReNFT allows NFT holders to list their NFTs for rental, specifying price, duration, and collateral. Users who rent out the NFT can use the NFT in any way they deem fit for the specified period once they’ve listed their collateral. This factor makes ReNFT an excellent platform for passive income through NFTs.
How To Earn Passive Income Via NFTs- Methods Explained
Below are some of the popular ways to earn passive income from Non Fungible Tokens.
- Staking NFTs For Passive Income
Staking, or Crypto Staking, is the transaction verification process. It requires Cryptocurrency that has the staking opportunity. Crypto Staking is like a savings account. You deposit your currency in an account used for staking. Investing in NFT Staking Projects earns you interest from 5% to 20%, depending on your NFTs and the platform.
- Renting NFTs
NFT Renting Platforms are a new and evolving concept. However, they allow users to rent their NFTs, like in the case of ReNFT and help to earn passive income. There’s an involvement of collateral, price, and duration in the process. Some platforms limit the price you can put for a rental, while others allow you to choose the price per your calculations. Naturally, the more popular NFTs will fetch higher costs due to greater demand.
- NFT Royalties
Whenever you sell an NFT in the secondary market, the NFT creator earns the royalty, as specified in the smart contract. NFT Royalties form an integral part of the smart contract. The royalty rate is set either by the marketplace or the creator himself. The royalty rate is usually between 5-10% but often increases to 20%.
Summing Up The Passive NFT Earning Ways.
NFTs are a growing phenomenon that is, as of now, largely unregulated. While they can get huge boosts, they are also liable to sudden market crashes. Often, their prices go up and down, with their base blockchain – Ethereum or Solana, being the two most popular ones.
While investing in NFTs, you can gain substantial income by staying current with the news and updates and understanding the ideal time to back out. To help you stay current, we have shared 7 Passive Income NFT Projects 2023.
If you are looking for upcoming NFTs, Check our NFT Drops Calendar Page.
Disclaimer: NFTDropsCalendar has no affiliation or relationship with any NFT projects or events unless explicitly stated otherwise. None of the information you read on NFTDropsCalendar should be considered investment advice.