Categories: Press Release

NiftyPays helps people earn even from their idle NFTs

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Non-fungible tokens have been increasingly popular these days as reports of various digital arts selling for millions of dollars on auctions continue to appear on headlines.

NiftyPays, a new entrant to the NFT space, offers a revolutionary way of earning using idle NFTs instead of the user buying and later selling them at higher prices.

NiftyPays Views NFTs As An Alternate Asset Class

People usually view NFTs as just digital collectibles, which could appreciate over time. As such, not many investors are willing to dive into the NFT space as investing in these digital collectibles could tie down their funds for a long time.

NiftyPays wants to challenge that mindset and start viewing NFTs as an alternate asset class. Instead of just waiting for their value to appreciate, investors can make money out of their idle NFTs using NiftyPays’ staking system.

Staking NFTs Or Using Them As Collateral

The platform allows investors to stake their idle NFTs for a certain period. This allows them to earn passive income through rewards calculated using the ecosystem’s intelligent gamification algorithm, which is dependent on the length of time the asset was staked.

Owners who stake their NFTs will receive airdrops from partner projects as well as rewards in $NIFTY, the platform’s token. They can either use the rewards to back other projects or collect them.

They can also use their NFTs as collateral for borrowing more funds within the NiftyPays platform. With more funds from their idle NFTs, investors will have more resources to invest when an opportunity arises.

NiftyPays’ platform also allows owners to rent out their NFTs to others for a period of time. Once the rent time expires, the NFTs will go back to their owners’ wallets and they will be paid $NIFTY for the rent.

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

Micky News

Finance, cryptocurrency and blockchain news - created by Australians, for the world.

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