What Is Staking NFT?

What Is Staking NFT?


NFT staking refers to generating income by locking your NFTs in Defi platforms to receive rewards. NFT staking relies on the PoS mechanism to reward the ones who locked their NFTs. Rewards are given on the number of stocks and the basis of annual interest.

Overall, it benefits the investors as the overall supply of the NFTs will be lower. It is another way of passive income through NFTs. This opens up a new opportunity for monetizing their assets, which will attract more participants get attracted in that direction. Every NFT can’t be staked to earn rewards. You can stake NFTs from play-to-earn games.

   

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