12 Best Places to Stake NFTs

At the time of writing, blockchain technology in combination with NFTs is in a perfect storm. In short, NFTs or non-fungible tokens can be stored, send, and traded by using blockchain technology just like cryptocurrencies.

However, the main difference between them is the fact that NFTs represent real-world items like pictures, real estate, or music tracks. Cryptos on the other hand are primarily represent value(digital money) and can be traded amongst each other.

In fact, building an NFT portfolio has the same experience as shopping products online. Instead of chasing products, you are searching for pixelated, animated, zombie-related, or even human-related pictures that you can buy with cryptocurrencies. After the purchase has taken place you can decide to hold them or try to sell them for a higher price.

Similar to cryptocurrencies, the evolution of technology keeps pushing forward with new opportunities passing by. One of these new opportunities with NFTs is by earning passive income over your NFT portfolio.

In this article, I’ll explain to you the 12 best places to stake NFTs. Also, a deeper insight into different NFT platforms and projects that are available in 2023.

Best Places To Stake NFTs

Where to stake NFTs and earn new cryptos over it while just holding your tokens in a crypto wallet? Below is the table where I’ll give you the 12 best options. Options that allow you to earn passive income over your NFT portfolio.

What is staking with NFTs?

In short, staking with NFTs is a way of earning passive income by holding your NFT collection. Additionally, the rewards for holding your NFT assets are paid out in rewards or crypto tokens. Moreover, NFTs and PoS cryptocurrencies are using smart contracts on a blockchain network to earn an annual percentage yield(APY).

In fact, Ethereum(ETH) and NFT are both digital assets that are using a blockchain network but both assets can’t all be staked. Cryptocurrency staking relies on Proof-of-Stake(PoS) mechanism to reward users.

NFTs or non-fungible tokens differ from regular cryptos as they have specific characteristics and are not interchangeable. Most NFT investors mostly prefer to hold on to their NFTs and wait until their assets have risen significantly in price. NFT staking opens the gate to new opportunities to monetize their assets and this will attract more people to participate and drive up the demand for NFTs.

Can all NFTs be Staked?

Unfortunately no, not all NFTs can be staked. For staking NFTs users can use specific platforms like Nftify or Kira to lock up their tokens. Also, it totally depends on the smart contract that is available for the NFT you are using.

Similar to PoS cryptocurrencies staking can be activated by locking tokens in a smart contract or wallet. For all PoS cryptocurrencies, this works the same and you will get rewarded with new crypto here.

NFTs on the other hand, are utilities with different functionalities. You can use NFTs on specific marketplaces as well as blockchain games or NFT DeFi platforms. Therefore not all NFTs can be staked.

Where to Stake NFTs

At the beginning of the article, I have shown you a list of the best places to stake NFTs, the possible rewards, and also what tokens you can earn with them. Next in this guide is a more detailed summary of all platforms and how NFT staking can be set up here.

1. Onessus

Onessus is a blockchain company that develops different DAPPs on the WAX blockchain. Moreover, their vision is to introduce all kinds of innovative DAPPs to a growing community of users. At the moment they have built a product suite with 4 different DAPPs:

• HodlGod(NFT based fantasy game using PvP/PvE to do battles)
• NiftyVille(NFT multiplayer game for metaverse)
• WhenStaking(Staking platform for in-game NFTs)
• YieldUniverse(Space galaxy game based upon NFTs)

WhenStaking

For staking NFTs on the blockchain you have to connect to the WhenStaking platform. In particular, WhenStaking is a curated platform of NFTs that have different sources of NFT listings. Examples are their own developed products from an NFT publishing studio. Also, NFTs from collaboration partners and high-quality NFTs from popular digital artists around the world. WhenStaking allows holders to enhance the utility, and potentially the value, of their NFT collection by staking them to earn a passive yield in VOID. WhenStaking brings two unique innovations to NFT staking:

• NFT leasing system(Rent out the NFT utility in games)
• 1-50 level system(NFT increase in value when staked over time)

2. Only1

Only1 is a Web3 social media platform that uses NFTs as their foundation on the Solana blockchain. Meaning, you can use the Only1 platform from different perspectives:

• Creator staking(Stake LIKE tokens or create NFTs for DAO participation)
• NFT launchpad(Launch new NFTs and earn shared revenues)
• Superfan NFT(Fans can earn with the NFT creator)
• Unlockable content(Buy keys to premium NFTs)

Creator NFT staking

The way creator staking works is that NFT builders put the new NFTs in a staking pool. Additionally, other users and supporters can stake LIKE tokens to earn APY rewards. The APY of each staker is calculated based upon the social activities on the various platforms. In other words, the APY is based upon content shares, likes, or posts you make on the Only1 platform.

3. Kira

Kira is a modern DeFi platform that enables Web3 applications to stake assets. Particularly, it enables interoperability between Web3 Dapps, and especially NFTs are able to use the KIRA network. In the first place, NFTs can be ‘fractionalized‘ by creating fungible tokens representing fractions of any particular NFT, which will then be used for lending and trading.

Also, staking NFTs is possible where you can deposit NFTs on the staking platform. Moreover, you can deposit any type of NFT including 4 different blockchain platforms(Ethereum, Cosmos, Polkadot, and BSC). The next option you have is to farm $KEX native tokens, and $KEX holders will be able to stake $KEX tokens to receive KIRA NFTs as rewards.

(*) DeFi platforms in combination with Web3 are a new technology that has some risks involved. Therefore, it’s advisable that you do some decent research before you deposit your NFT here.

4. Splinterlands

Splinterlands is one of the first developed play-to-earn games in the crypto sphere. Additionally, it’s a game about monsters that are actually NFT trading cards. To start playing a minimal $10 purchase is required but after that, you are all set. When you make progress in the game by playing the different cards you get rewarded in $DEC token. DEC stands for Dark Energy Crystals the in-game currency.

In-game NFT cards can represent monsters or lands that can be bought. Although the game is built on the Hive protocol, it can be converted to an ERC-721 token. After which, it can be treated as an NFT, which allows it to be traded on marketplaces like Opensea.

Finally, staking in Splinterlands works by using/holding your earned DEC tokens. By doing this you will automatically be rewarded with SPS tokens.

5. NFTX

NFTX is another DeFi platform that offers NFT holders the ability to stake their NFTs. Staking NFTs is a 2-steps exercise here. First, you have to deposit your NFT in a vault and mint platform token called $AVASTAR. Secondly, you use this token to provide liquidity(DeFi) and start staking. Users who stake their NFTs earn from the trading fee on the platform. NFTX supports collections that came before the ERC-721 standard.

Overall, NFTX is using liquidity farming like any other DeFi platform on Ethereum. However, by making it possible to deposit NFTs into an NFTX vault and mint a fungible ERC20 token it upgrades the functionality of your NFTs.

(*) DeFi platforms in combination with Web3 are a new technology that has some risks involved. Therefore, it’s advisable that you do some decent research before you deposit your NFT here.

6. The Sandbox

The Sandbox is a 3D-based blockchain game that is using a virtual world on the Metaverse. Particularly, players of this game can build, own and monetize their gaming experiences in the Ethereum-based blockchain. In other words, users of this game can create any type of content with the (UGC) engine and have full ownership over it.

In short, this blockchain-based game is based upon three key components:

• VoxEdit(An editor to create 3d creatures that are also NFTs)
• Marketplace(Buy, Sell, or upload the NFT creations from VoxEdit)
• GameMaker(Create your own 3D games in this metaverse)

Staking $SAND token is a relatively new feature and can only be done on the Polygon version of the game. Meaning, that to start staking SAND you need to bridge them to Polygon first. Additionally, by bridging the tokens to Polygon you can stake without paying expensive gas fees which is a big benefit. More on how to stake $SAND can be found here.

7. MOBOX

MOBOX is a community-driven GameFi platform empowering users by rewarding them for their engagement and enjoyment. All this, by using innovative tokenomics($MBOX), utilizing finance and games. It’s a blockchain game anyone can join for free and on top of that, you have the ability to earn by NFT staking, or just making progress in the game.

NFTs in particular is a key feature in the game. Additionally, NFTs or MOMOs are the main characters and can be obtained by opening mystery boxes or buying on the in-game marketplace.

NFT staking is quite simple here and if you acquired 1 MOMO it will automatically start staking $MBOX tokens. In fact, this process is called mining and will continue to do so as long as you own this NFT(MOMO).

All in all, based upon the rarity of your NFT(Common, Uncommon, Unique, and Rare) in combination with hash power you can earn rewards.

8. Powerstation(Binance)

Maybe you are already familiar with crypto trading on Binance then you also know that this crypto platform has a lot of extra features. Besides crypto trading, you also have the possibility to trade NFTs on their marketplace and many more.

The power station is Binance’s latest NFT project that allows you to stake Binance Fan tokens. Binance Fan Tokens are specific NFTs related to sports teams all over the world. Initially, Binance fan tokens are aimed at football fans but they are planning to expand in the near future.

In detail, these tokens allow you to connect with your favorite team or sports brands. Where you can win tickets to specific events or win merchandise items. At the time of writing, the following Fan Tokens can be acquired:

• $PORTO(Fc Porto is a football club in Portugal)
• $ALPINE(Formula One constructor BWT Alpine)
• $LAZIO(Football club SS Lazio from Italy)
• $SANTOS(Football club from Sao Paolo, Brazil)

9. Band Royalty

Band Royalty is a brand new NFT ecosystem targeting the music industry. Moreover, blockchain technology in combination with smart contracts enables artists a direct platform to communicate with their fans. This way, the usual third-party providers like large ticketing companies aren’t able to earn high fees anymore.

By using the BAND platform you are allowed to earn royalties from music created by your favorite artists. In addition, as an NFT holder of this artist, you earn royalties and can earn crypto when the song gets popular in the world.

Staking BAND Royalty NFTs works by first getting at least 1 ETH to buy the NFT tokens on their marketplace. That’s right, at the moment 1 BAND NFT will cost you at minimum 1 ETH and the more BAND Royalty NFTs you collect and stake, the larger your slice of the royalty you can potentially earn from. Also, NFT staking can be done in a different period ranging from 90 days up to 5 years. The more BAND Royalty NFTs you stake for longer, the bigger your slice from the collection royalty pool.

The royalty fees you can earn can be done in 4 ways:

• 50% from BAND Royalty music catalog revenue
• 5% on BAND NFTs traded on OpenSea or BAND marketplaces
• 50% on any auctions of single BAND music tracks
• 5% re-selling music royalties

10. CyberKongz

CyberKongz started as a collection of 1000 unique and randomly generated non-fungible tokens (NFTs). Initially, in March 2021 the collection was created or minted at .01 ETH each. In fact, without any serious advertising campaign or pre-release, this collection of digital apes got easily sold out. Until today these 34×34 pixel CyberKongz images are very popular traded NFTs and have reached a floor price of 6.8 ETH.

NFT staking is new functionality added to the NFT project and allows NFT holders to earn $BANANA tokens. Indeed by holding or staking CyberKongz NFTs you can earn 10 $BANANAs per day and for the next 10 years.

Besides earning $BANANA tokens you also have the ability to create new CyberKongz NFT by a process that is called ‘Breeding’. Breeding literally requires a ton of energy and is therefore expensive(gas fees). However, it will create you a new Baby Kongz NFT that will earn you new $BANANA tokens over time. All in all, a very interesting NFT project that uses staking to bring the collection to another level.

11. LooksRare

LooksRare is an NFT trading platform that similar to Opensea.io enables users to trade NFTs no matter where they live in the world. On their website they state:

‘LooksRare is the community-first NFT marketplace with rewards for participating. Buy NFTs (or sell ’em) to earn rewards.‘

Staking NFTs on LooksRare is very simple. You just buy an item on the LooksRare marketplace and as long you hold it there your NFT will generate rewards. Particularly, these rewards are collected based upon all trading fees that are generated on the platform and are $LOOKS tokens. Also, these rewards are collected based on daily volumes and paid out daily.

12. NFTify

NFTify is also a famous NFT marketplace that enables NFT entrepreneurs to use their feature-rich solutions. The idea is that anyone should be able to open a store and start selling their NFT collection. All this without the need to create any lines of code. Just launch your NFT shop start branding and marketing your NFT solution.

Staking coins can be done by generating $N1 tokens. Specifically, the $N1 staking program allows users to stake on up to 3 networks: Ethereum, BSC, and Polygon. Users will earn staking rewards based on the duration that the tokens remain locked. The larger the staking amount and the longer the locking period, the bigger the reward you can get.

You have 03 linear rate pool staking options:

• No lock-up pool(stake and un-staking $N1 tokens anytime you want at 10% APR)
• 90-day locked pool(staking fixed for 90 days at 20% APR)
• 180-day locked pool(staking fixed for 90 days at 40% APR)

13. Tokenfy

Tokenfy is an NFT launchpad solution meant for artists with no coding experience. The idea is that any artist with an NFT collection can join the platform and start minting NFTs. All this can be done by customizing a smart contract, setting royalties, creating metadata, and even arranging to whitelist. However, all this can be costly and you need a minimum start capital of $10,000.

Staking on Tokenfy works similar to any other DeFi solution. Where you deposit some $TKNFY to provide liquidity in a staking pool. Locking up coins is very flexible and you can earn sTKNY tokens currently giving you a reward of 164% APR.

Final words

In the case of NFTs, a positive outcome is almost guaranteed. Earning additional cryptos over your NFT portfolio is no different than staking cryptocurrencies from a wallet.

However, where staking cryptocurrencies can give you higher rewards and higher profits in terms of price, there are always also risks involved. Staking NFTs and especially in combination with DeFi platforms is also very risky.

Ultimately, the choice should depend on your personal attitude to risk. Investors who are willing to take risks in the hope of earning ultra-high returns should try yield farming NFTs.

All in all, the NFT markets, in general, give you numerous options and possibilities to be profitable in the end.

📣Important: List of top Crypto Projects

***To be Profitable in the markets