Best NFT Staking Platforms To Make Passive Income in 2024

NFT staking platforms are becoming trendy like the regular NFT platforms were a few years ago. These platforms are regularly updated and provide innovative NFT-based services. NFT staking websites give risk-free investment opportunities to earn passive income and rewards. The NFT market is growing, and NFT staking is becoming more popular day by day. People are finding more trusted and reward-given platforms for NFT holding. So, we can say that the NFT staking platforms will have more demands in the future. In this article, we will explore the best NFT staking platforms and how they impact the Web 3.0 universe.

Benefits of NFT Staking Platforms

The NFT market has gained popularity and become one of the top blockchain applications. As the market grows, so does the NFT monetization strategy. NFT holders can earn without losing their ownership by staking NFT. They are also contributing to the security of NFT ecosystems.

Here are the top benefits of using a NFT staking platform:

1. Passive Income Source: Staking NFTs can be your passive income source. Most NFT staking platforms reward the NFT holders daily, weekly, or monthly. The reward is not the same for all platforms. It depends on the total NFT project revenue, the staked NFT, and market conditions.

2. Help NFT Ecosystem: When you stake NFT on an NFT staking platform, you are actually contributing to the NFT ecosystems. NFT stacking improves the platform's integrity and transaction.

3. Special Rewards: Staking platforms often offer special rewards to early adopters. Common special rewards are new content, community memberships, and governance rights. These increase the experience of NFT ownership and attract more people to engage with an NFT staking platform.

4. NFT Project Launch: Many NFT staking platforms offer the opportunity to invest in new NFT projects. You can find promising NFT projects here and make lucrative investments to make a good profit from them.

5. Portfolio Diversification: A regular investor diversify the portfolio to lower the investment risk. NFT staking creates the opportunity to make risk-free investments in the NFT marketplace. So, you can invest in NFT staking to diversify your investment portfolio.

Best NFT Staking Platforms To Earn Passive Income

There are many NFT staking platforms in the NFT landscape. But most of them do not have the longevity users expect to have. Software development companies are trying to make the staking platform a trend. Many NFT-based platforms are also introducing the NFT staking idea. Till now, very few NFT Staking Platforms have gained popularity that matched the hype.

Here are the top NFT Staking Platforms to earn some passive income -

1. Binance NFT

Binance is currently the most widely used cryptocurrency exchange platform. More than 18 crore people use Binance. They also offer NFT trading on their platform. Binance offers staking for some of the most popular NFTs. Currently, they are offering Ape staking for Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFTs to earn ApeCoin (APE).

The upcoming stackable NFT of the Binance stake system is the Bored Ape Kennel Club (BAKC). Binance also offers the Sandbox NFTs staking to earn daily $SAND rewards! Binance is a reliable staking platform, probably the best NFT staking platform you can find on Web3 world.

2. NFTX

The NFTX platform offers Buy, Sell, Swap, and Stake. You will need to connect your digital wallet to get started. NFTX has a very nice user-friendly dashboard for staking.

Users can stake for inventory or liquidity on NFTX. The yield Percentage for Inventory Staking is 20%, and for Liquidity Staking, it is 80%. Inventory staking does not require ETH, and there is an Auto Compounding feature. On the other hand, Liquidity Staking requires ETH, and there is an Auto Compounding feature.

There are 48 hours of double-sided and 7 days of single-sided staking available for users on the NFTX platform. They provide good instructions on how to stake and earn more rewards on their platform.

3. BAND NFTs

BAND NFTs is a promising music NFT platform on the Ethereum blockchain. It offers governance tokens to the music NFT stakers. BAND is an ecosystem for collaboration between Fans and Musicians.

BAND does not offer a fixed amount of rewards for stakers. But, as a staker, you will get access to music royalty pools. There are three types of BAND Royalty pools: Print Music, Public performance, and Synchronization.

Staked at least one BAND NFT and get 50% royalties revenue in governance tokens. The staking period for a BAND NFT is 90 days to 5 years. If you keep a stake for a longer period, the chance of getting governance tokens will increase.

Currently, there are few music NFTs available on the platform. This music NFT staking idea is great but the NFT platform is not well established yet. If BAND can continue to grow its music collection with popular songs, royalty earnings will also increase.

4. Doge Capital

Doge Capital has a collection of 5000-pixel art NFTs. It uses Solana Blockchain to share NFTs. Doge Capital will soon launch its own NFT marketplace. Now, you can find its NFT collection on any Solona Marketplace. 

Doge Capital offers NFT staking on its platform. You can easily start staking by adding your Web3 wallet to the platform. The staking will add your Doge to a noncustodial contract, and you will receive rewards daily.

For every Doge, you will Earn 5 $DAWG per day. There are also bonus levels to earn an extra $DAWG. You can stake up to 100 Doge NFTs per wallet. Your $DAWG will be automatically withdrawn if you unstake your NFTs.

5. WhenStaking

WhenStaking is an NFT staking platform by Onessus. You will need WAX Cloud Wallet or Anchor Wallet to log in to this staking platform.

Onessus develops play-to-earn games. WhenStaking allows to staked the NFTs from the games. It offers a native token - $VOID. Based on the collection, rarity, and average price, a base APR and staking capacity will be determined for your NFT. You can use the wrapped version of the NFT in the game.

This staking platform is one of the early-developed staking platforms. Now, let's see how long Onessus continues the staking project.

6. Axie Infinity

The most popular game on Web3 for earning money is Axie Infinity. It has also introduced staking services for its governance token - $AXS. You need to connect to Ronin Wallet to use the service.

Axie Infinity is a perfect platform to stake. Over 500 million AXS has been staked on this platform. Currently, the annual percentage rate (APR) of Axie Infinity is 35%. If you love gaming, you can take the chance to play Axie Infinity and stake it here.

7. Splinterlands 

Splinterlands is a blockchain-based collectible card game. The native token of this platform is Splintershards (SPS). To earn rewards, you have to keep the SPS tokens on the gaming platform. It offers special rewards as well as governance voting rights for staking SPS.

Most of the NFT staking platforms are gaming platforms. These platforms let the user stake NFTs in the mean of native tokens. Some other gaming platforms with NFT staking feature are -

• MOBOX
• The Sandbox
• Aavegotchi
• LooksRare

Conclusion

NFT staking platforms are relatively new with functionality in the NFT ecosystem. These platforms usually give big rewards for staking on their platform. But, reliability and trustworthiness are still big issues for NFT holders. If the NFT staking platforms can ensure the trust in customers' minds, this can be a lucrative marketplace. The demand for NFT staking platforms is increasing daily. Popular NFT staking platforms are trying to cope with this rising demand. If the NFT staking platforms can update themselves with the trend, then the next generation can stake NFT smoothly. Earning a passive income from NFT staking will be the new norm. You can also start staking your NFTs and join this revolution.

Note: No legal or trading advice is provided in this article. Always check and verify the website/service information you want to use yourself