With NFT staking, holders of NFTs now have a new way to profit from their assets while keeping ownership of them.
As the NFT market expands, creators and developers are looking for new applications for non-fungible tokens. One of the most recent NFT applications is to stake these tokens to generate passive income. NFT staking is the process of securing NFTs on a platform or protocol in order to gain rewards and other benefits. This enables owners of NFTs to utilize their idle assets without having to sell them. To stake an NFT, all users need is a Web3 wallet; the process is the same as for cryptocurrency.
Here are the 5 Best NFT Staking Projects To Explore This Weekend
- Mutant Cats
- Wolf Game
- Axie Infinity
RobotEra is an upcoming metaverse cryptocurrency gaming project that uses blockchain technology to offer a number of DeFi (decentralized finance) protocols and lets users stake tokens to generate passive income. There are many other ways for players to use TARO, the in-game cryptocurrency, to profit from the game in addition to staking.
Mobox is a play-to-earn gaming platform that combines yield farming and NFTs. The Binance Smart Chain serves as the foundation for the Mobox metaverse, known as MOMOverse. Players can mine, earn, or trade MOMOs, which are the Mobox NFTs used in this ecosystem. Every MOMO NFT has distinct characteristics and a hash power that is generated at random.
3. Mutant Cats
The first cryptocurrency project that buys and fractionalizes other top-tier NFTs is possibly logoMutant Cats. NFTs from some of the most well-known projects ever have been assembled in a safe vault by the project. CryptoPunks, Bored Ape Yacht Club, Tyler Hobbs, and other well-known NFTs can be found in the Mutant DAO vault.
4. Wolf Game
A metaverse project called Wolf Game has NFT staking built into its gameplay. NFTs are available as Wolves and Sheep in this universe. In order to keep their sheep NFTs safe from wolves, players will need to stake them. Players will also receive WOOL tokens as compensation for staking Sheep NFTs.
5. Axie Infinity
One of the greatest NFT games to date is frequently cited as Axie Infinity. It is designed to be a play-to-earn game in which players compete against one another using NFTs. These NFTs are known as Axies, and each one has particular advantages and disadvantages.