Coins of NFT projects and platforms have become a big part of the cryptocurrency landscape in 2021. Indeed, as more and more NFT coins appear on the market, the question of which of them are the best options for providing passive income becomes increasingly difficult to answer.
Of course, there were many NFT projects promising coins or tokens that did not bring much income. And although this may be true, TAE games with the play-to-learn function and TAE projects with promising coins and rewards for bets continue to develop and launch.
So let’s take a look at some of the best NFT coins available right now and how they can provide passive income.
How do NFT coins work?
The first thing to remember is that NFT coins appear in different ways with all sorts of utilities. Secondly, NFT coins can be very volatile. Therefore, you need to be very careful when buying NFTs that offer coins, or when purchasing NFT coins on exchanges or through liquidity pools.
With all of the above in mind, let’s take a look at some of the best or most promising NFT coins at the moment. For coins listed in the CoinMarketCap list, the value in US dollars and market capitalization will be indicated.
For comparison, Cardano (ADA) is the sixth largest cryptocurrency. At the time of writing, its market value is approximately $44,931,269,425, and the value in US dollars is $1.35.
NFT Collectible Coins
CyberKongz – BANANA
Genesis CyberKongz were the first NFTs to introduce passive earnings using coins or tokens. In general, Genesis CyberKongz owners receive 10 BANANA tokens every day for 10 years (from the moment of minting). While the main purpose of the token is to mine NFTs Baby Kong.
So far, BANANA has been one of the best coins. Given this value, Genesis CyberKongz NFT are among the most expensive avatars on the market. The current minimum price of Genesis CyberKongz NFT is 90 ETH, or about $344,000. For Baby Kongz, it is 6.99 ETH or about $27,000.
The token of the Bored Ape Yacht Club*.
The team behind the premiere NFT avatar project has finally answered the question “Wen Token?” back in October. Although they did not give too much detail about what the BAYC coin might look like, they confirmed that they plan to launch it in Q1 2022.
Although it may not be released yet, given how well all BAYC collections are doing, it’s hard to assume that a future BAYC coin won’t follow suit.
NFT Game Coins
Axie Infinity – AXS and SLP
Market Value: $5,855,590,710 | $84,227,699 ; Current value in US Dollars: 95.48 | 0.02626 (AXS |SLP)
Without a doubt, Axie Infinity is the largest player in blockchain games. In fact, this is one of the earliest projects in this area. It features Pokemon-like NFT characters called Axies.
In addition, players can earn and exchange the game’s own coin, AXS, by buying, selling, multiplying and fighting Axies. People can also buy AXS on various exchanges. Not to mention that in October 2021, Axie Infinity introduced the AXS rate.
Although playing Axie Infinity is far from a passive activity, betting on AXS is exactly that. To explain, stacking allows users to block the AXS coin and receive significant interest for the period on which they bet.
Moreover, a second coin is tied to Axie Infinity. This coin is called Smooth Love Potion or SLP. SLP started as an in-game currency that players earn and can use to breed axises. However, it has grown so much with the game that it is now traded on exchanges. It is also very easy to exchange SLP for AXS to get rewarded for betting.
Game of Wolves – $WOOL
Cost in US dollars: 0.1998
Wolf Game has been gaining a lot of popularity in the NFT world lately. In particular, Wolf Game receives rave reviews for its simple gameplay and passive revenue generation model. Compared, for example, with Axie Infinity, it is incredibly easy to earn a $WOOL token in the game.
For example, it can be just buying an NFT sheep on the secondary market, betting on it in the Wolf Game barn, and then earning $WOOL. Unlike Axie, which requires much more time and strategy to play, Wolf Game can be a passive income.
It’s still very early days for Wolf Game. But if the trend, when NFT influencers talk about it, testifies to this, then $WOOL from Wolf Game may well become one of the main NFT coins this year.
NFT Platform Tokens
Decentraland – MANA
Market Value: $5,958,249,596 ; USD Value: 3.26
Decentraland is the leader in the total volume of Metaverse in the Opensea rating. Given the huge surge in Metaverse land sales at the end of 2021, it is not surprising that the native coins of these platforms are also showing good results compared to other cryptocurrencies.
MANA is the native coin of Decentraland and is used to buy virtual land and trade other assets in Decentraland. It is noteworthy that MANA burns out when selling LAND at auction, reducing the number of available MANA. This deflationary effect is important to note, especially when Decentraland’s user base continues to grow.
Sandbox – SAND
Market Value: $5,193,543,757; value in US dollars: 5.65
The Sandbox is another leading metaverse. Like Decentraland, it also has its own coin – SAND. Owners can use SAND to purchase plots of land and other items in the Sandbox. As for passive income in The Sandbox, betting on the SAND token is one of the best ways to earn money.
Moreover, The Sandbox effectively returns 50% of SAND to its community through The Sandbox Foundation.
Enjin – ENJ
Market Value: $2,392,231,575 ; Value in US Dollars: 2.83
Enjin is a company that allows blockchain game developers to assign value to the game items they create. Enjin does this with the ENJ token. In fact, game creators block the ENJ coin when they mine an NFT item. If you list, then such items can be in-game currency, characters and accessories.
Players using ENJ can earn, buy or exchange these items in these games. Finally, players can sell these items for the amount of ENJ coins embedded in these items. Another key point is that the ENJ offer is limited. In other words, there are only 1 billion ENJ in the world. This supply restriction may contribute to an increase in the price of ENJ.
Gala Games – GALA
Market Value: $3,066,380,325 ; USD: 0.4398
Gala is a blockchain-based gaming platform that focuses on creating fun, simple games whose assets belong to the players. Its native coin, GALA, is available on exchanges and as a reward both in some platform games and for players who manage nodes of the Gala decentralized blockchain system. The GALA coin can also be used to trade assets in Gala games.
Thanks to the listing on Binance and Coinbase, last year the GALA rose in price several times, and also fell several times. Of course, the value of the coin is directly related to the success of the platform and the games it produces.
NFT coins offer both risk and opportunity for passive income
As with any other investment, risk and opportunity go hand in hand. The risks of more established passive income opportunities, such as, for example, bets on AXS or SAND, are relatively small. However, they may have a higher barrier to entry and lower returns than rolling the dice on a less proven NFT coin.
In any case, when it comes to NFT coins, there is a wide range of opportunities for passive income. Choosing the best one for you depends on what you are looking for. So do your research and choose wisely!