Platforms for staking NFTs for rewards started in early 2021, and most platforms are still in development or test net stages. Staking NFTs is like this: you get payouts based on how many NFTs you lock up. You can earn more if you hold more of one particular NFT or if the ecosystem as a whole is doing well, and the supply of NFTs is dwindling because everyone wants to sell. If you’re interested in collecting digital items and earning real rewards, here are a few of the top NFT staking platforms:

NFTX

NFTX is a unique platform that could revolutionize the crypto space. It gives NFTs—and crypto assets in general—the functionality of securities. Traders familiar with cryptos now have an entirely new way to monetize their digital assets, and NFTX holders can automatically generate income from these assets. Overall, NFTX is an exciting platform to monitor. They already have a working product and a long-term plan for scaling on the Ethereum blockchain. This makes them exciting competitors among other staking platforms in this space.

Doge Capital

Doge Capital is an exciting project, as it is one of the few trustworthy NFT staking platforms we’ve come across. Moreover, it allows users to collect and sell their digital art pieces or stake their DAWG tokens, thus netting some passive income from their holdings. It uses NFT technology intelligently and could be a model for future staking platforms in the coming years.

BAND NFTs

BAND uses the power of blockchain to democratize royalties and give the power back to the producers. The BAND platform is an NFT ecosystem where users can buy and stake music NFTs and earn royalty income, based on how frequently their songs are streamed. BAND aims to bring creators and consumers closer together, sharing revenue fairly in a transparent ecosystem. BAND tokens are used as a currency on the BAND platform, but users can stake them in royalty pools, for exposure to the revenue earned through royalties sourced from the music industry. This is a way of picking up a passive income, much like blockchain apps that offer passive income.

Polychain Monsters

Recently, a new blockchain-based platform called Polychain Monsters (PMON) has gained traction in the NFT space. According to PMON’s official website, the company was founded in 2022, and it has developed blockchain-based platforms for animated collectible NFTs—a concept similar to the one behind crypto-collectibles, but with distinct variables. PMON’s most notable product is Polymon, a digital asset acquired through digital booster packs and then paired with others of varying rarity. Some pairings are incredibly rare and highly sought after. Moreover, Polymon NFT holders can bet their NFTs and earn PMON, which is the Polychain Monsters’ native utility currency, weekly.

Splinterlands

Splinterlands, from a technical and design standpoint, is one of the most revolutionary blockchain-based video games to date. The game itself is exceptionally fluid, it has smooth animations, and the community is of a decent size. The main webpage looks nice, their leaderboard is functional, their bounty program (Splinterlands Rewards) is very appealing for content creators on YouTube and Twitch, and their staking system/DAO will be groundbreaking once fully implemented. But it also suffers from a lack of activity on social media, a slow initial acquisition rate, until you hit Level 10 (when you can unlock your first card), and an in-game tutorial that starts you off only with nothing more than basic information. Users can purchase SPS tokens on the Binance DEX to bet on ranked matches or create liquidity pools.

Conclusion

The development of an NFT Staking Platform may vary, based on the number of users and businesses using it. As seen above, various backgrounds are included in such a platform, providing an intuitive and automated process for a better future, with regular rewards. Such platforms will become more prominent in the upcoming years, giving the best opportunity to people worldwide, while they enjoy their favorite games.