NiftyPays allows owners to rent out, stake or use their NFTs as collateral

The non-fungible token market expanded by 2,100 percent to $2 billion and posted a 299 percent growth in transactions in 2021.

The new platform NiftyPays is spicing up the NFT space by offering new ways of earning passive income from collectibles by making even idle NFTs work hard for their owners.

A New Way Of Looking At NFTs

Most people view non-fungible tokens as mere digital collectibles. To make money out of them is to buy them requires that one purchase them when they’re still cheap and sell them once they’ve appreciated over time.

Obviously, such a strategy could take some time to complete. This makes some investors unwilling to participate in the niche as it could tie up their funds in idle assets a bit longer.

Thankfully, NiftyPays is challenging this way of looking at NFTS. Instead of viewing their NFTs as idle, investors can actually use them to earn money through its staking feature. They can even derive additional liquidity from their NFTs to make more investments in the space.

How Investor Can Make Money Out Of Their Idle NFTs

Through NiftyPays Staking Farm, owners are rewarded just for holding their NFTs and earn passive income. The rewards are calculated using the platform’s algorithm which is also dependent on the length of time an NFT is staked. Simply put, the longer the owner places the NFT on the staking farm, the higher the reward will be.

Rewards come in the form of airdrop from partner projects as well as in $NIFTY, the native token of the platform.
Some investors are a bit hesitant to enter the NFT niche due to liquidity issues. However, this won’t be a problem in the NiftyPays platform as they can actually take out loans using their NFTs as collateral to meet any liquidity requirements they might have.

The platform also offers a renting feature when owners can rent out the NFTs to other NiftyPays users. Once the agreed duration of the rental is reached, the NFT goes back to the owner’s wallet along with the agreed rental payment. For more information, check out the links below.

Medium: https://niftypays.medium.com/
Facebook: https://www.facebook.com/niftypays
Twitter: https://twitter.com/niftypays_com
Reddit: https://www.reddit.com/user/Niftypays
Discord Channel: https://discord.gg/WZM5cg4r

Source: https://bitcoinerx.com/blockchain/niftypays-allows-owners-to-rent-out-stake-or-use-their-nfts-as-collateral/