Explore The Best NFT To Stake in 2024

Blockchain technology implementation has no bounds. Developers are creating blockchain-based new applications frequently. Continuous blockchain development opens up the opportunity for non-fungible tokens (NFTs) to stake. It is a great way to generate passive income using digital assets. Like crypto staking, NFT staking is becoming popular. This blog will explore the term NFT staking and share the best NFT to stake.

What is NFT Staking?

Nonfungible tokens (NFTs) are digital assets stored in a blockchain-based platform in the form of images, audio, and video. Staking means holding something for some added value later. NFT staking means holding NFTs in a platform to get rewards. This staking process gives NFT owners an opportunity to make some extra income. The NFT owners have to hold the ownership for a certain period. They get this passive income without selling them.

But, not all types of NFTs are eligible for staking. So, if you want to buy NFTs to stake, you should know the background of that NFT. Investing can be a great way to generate passive income. 

How Does NFT Staking Work?

NFT staking is a relatively new concept among digital asset holders. Staking NFT is like keeping money in the bank. You will get interest over a time period for keeping your money locked. But the functionality is more similar to crypto staking.

As NFTs are tokenised assets, they work similarly to cryptocurrency staking. A smart contract system on a blockchain is used for NFT staking. Once you choose a staking period, your NFT will be locked.

Staking NFTs on a blockchain enhances their security and working efficiency. You have to connect a crypto wallet with that NFT platform. The platform will then offer rewards based on your NFT staking collection. This reward is usually defined by the project developer who minted the NFT first.

Common Rewards of NFT Staking

The amount of earnings basically depends on the NFT platform and the type of staked NFT. You will earn based on the annual earnings of the NFT project and the number of your staked NFTs. Many NFT projects offer daily and weekly rewards for staking. The longer you hold your NFTs in stake mode, the more you can earn. Your reward will be issued on the native token of the NFT platform. Sometimes, you can even receive free NFTs by staking specific ones.

Many staking platform offers community memberships. This membership gives a voting opportunity on the platform. If you are an NFT holder of this platform, you can play an active role in the community. So, these all are the passive benefits of staking NFTs.

Some Popular NFT Staking Platforms

There are many NFT platforms to stake your NFTs. Here are some popular ones:

• Binance NFT
• ApeStake
• NFTX
• BAND NFTs
• WhenStaking (Onessus)
• Axie Infinity (with native token)
• LooksRare (with native token)
• MOBOX (with native token)

Best NFT to Stake for Passive Income in 2024

There are many types of NFTs in the NFT space. But here, we only picked the best one for you for staking purposes. If you want to be a stakeholder without taking any risk, you should check the best NFTs to stake. The best NFTs hold long-term reputations, new development plans, and special rewards for their stakes.

Here are the top 10 best NFTs to stake -

1. Bored Ape Yacht Club

Bored Ape Yacht Club is a famous NFT collection on the Ethereum blockchain. It features cartoon apes with unique traits and characteristics. Yuga Labs launched BAYC in April 2021. Yuga Labs is now valued at over US$4 billion. You can guess the potential of this NFT collection.

There are only 10,000 BAYC NFTs in existence. Owners of a BAYC NFT are granted access to a private online club. If you have this NFT, you can interact with other BAYC holders and participate in exclusive events.

Several celebrities have purchased BAYC NFTs. Some of them are - Justin Bieber, Snoop Dogg, Gwyneth Paltrow, Jimmy Fallon, Post Malone, and Stephen Curry.

So, buying BAYC NFTs is a good decision and probably the best NFT to stake.

2. Mutant Ape Yacht Club

Mutant Ape Yacht Club is another of the most valuable NFT collections in the world. There are only 20,000 MAYC NFTs. It has the same benefits as BAYC NFTs. But, it is unique in design and some of them have special names. You can also buy MAYC for staking and ensure a handsome passive income.

3. Peplicator

The Peplicator NFT is increasing in popularity on the internet. This NFT collection was created by Matt Furie, who also designed the famous NFT Pepe the Frog. You can collect this NFT from many NFT platforms which support staking.

4. Lil Pudgys

Lil Pudgys is another popular NFT collection. There are  22,222 unique NFTs in this collection. Choose your favourite ones from this collection. The demand for Lil Pudgys NFT is very high. You can buy some Lil Pudgys and stake them for future gain without any worries. If there is anything you want to stake for a long time, this is definitely a good choice.

5. PudgyPenguins

PudgyPenguins is an NFT collection of adorable penguins founded by Cole Thereum. There are 8,888 NFTs with unique accessories for Web3. Luca Netz, the current CEO of PuddyPenguins, is highly capable of making this project one of the top NFT collection projects.

The basic Penguin shape is the same, but the traits are different. They are known for their cuteness and the strong community built around them. There are exclusive rewards for Pudgy Penguin NFT holders. If want to relax and earn some passive income, PudgyPenguins can be your best NFT to stake.

6. Milady

Milady is a collection of 10,000 generative artworks featuring female characters. Tokyo Street-style tribes inspire every unique Milady NFT. Each NFT has more than ten unique attributes. The Milady NFT collection was created by the artist Raphaël Lima. The floor price of Milady is high, but its unique lifestyle-related design makes it attractive and collectible. So, it can be your best choice to stake in an NFT platform to earn more.

7. Azuki

Azuki is a popular NFT collection for the metaverse. It has 10,000 anime-inspired avatars. Chiru Labs developed it. The owner of an Azuki NFT gets special access to a Web3 community. There are also surprising rewards for the Azuki holders.

Azuki is a very community-friendly NFT builder. The floor price of Azuki is comparatively higher. But the high-quality creative NFTs are worth buying. So, you can buy their NFT to hold it for the long term.

8. CloneX

CloneX offers only 3D avatars. You can find 20,000 avatars in this collection. There are almost 12 attributes for each of the clones. RTFKT Studios creates CloneX NFTs. CloneX is known for its collaborations with high-profile brands and celebrities. The brand value of CloneX is increasing day by day. So, if you are looking for the best NFT to stake, consider this one of the best good choices.

9. CryptoKitties

CryptoKitties is one of the earliest and most well-known blockchain games. You may already know about them. Brand strategy and viral CryptoKitties avatars make them one of the top NFTs in the NFT space. They have an excellent impact on the NFT marketplace. Dapper Labs company has developed CryptoKitties.

CryptoKitties has an extensive collection of NFTs comprising 150,000 unique and breedable cats. It is hard to buy CryptoKitties as there is no one left unsold. You have to make an offer to other CryptoKitties holders. You can choose your favourite one to make an offer, and if you get it, hold it for a long period on the staking platform. They really are a good choice for NFT staking.

10. Doodle

Doodle offers to create personalised NFTs. The original Doodle digital collectibles are 10,000. "The Doodles" were founded by the artist Burnt Toast. This is a very growing community. You can be a part of it. If any platforms offer the opportunity to stake Doodles, take the chance.

Conclusion

NFT staking offers a new possibility in the investment sector. It provides security for long-term investment. NFTs are no longer only unique content; they offer various rewards. Many new upcoming NFTs offer excellent rewards as well. As the NFT industry continues to evolve, more innovative opportunities will arise. I hope you gain proper knowledge about NFT staking and how to find the best NFT to stake by reading this article. Then, you are ready to make money from NFT staking and attract future potential from NFTs.

Happy NFT staking!

FAQ

1. Why is staking profitable?

You do not have to worry about buying and selling. The rewards are guaranteed after a certain period. So, if you are worried about selling your NFT, it is worth staking.

2. Do all the NFT platforms support staking?

No. Only a few NFT platforms and games support staking on their platform.

3. How do I stake NFTs?

Log in to a trusted and reliable NFT staking platform using your digital wallet. Then, buy some NFTs and stake them on that platform.

4. What is the fee for staking an NFT?

Most staking platforms do not initially take fees. They deduct fees during the reward-giving period. Staking NFT may require a small gas fee for the blockchain.

5. What is the best NFT for staking?

There is no particular one. However, the best NFT to stake is the one that is popular and has a strong development team, significant investment, and a long-term plan.