10 NFT Business Ideas You Can Start Today

Tyler Gallagher is the CEO and founder. Regal AssetsInternational alternative asset firm, based in Beverly Hills, Toronto and London.

Good news — you don’t have to be a digital artist to succeed as an NFT entrepreneur. Non-fungible tokens (NFTs), despite what some might believe, are not only for cryptoart. NFTs are used in a wide range of industries.

Even though NFT artwork is selling for a fortune — the artist “Beeple” sold a piece at Christie’s auction house for $69.3 milion — it’s possible to make a fortune in other ways using NFTs. If you’re interested in launching an NFT company, I’ve got you covered. In this article, I’ll go over some ideas for starting a venture involving NFTs. 

What are NFTs and How Do They Work?

The essence of NFTs is that they’re non-fungible blockchain assets. By contrast, when you exchange one Bitcoin for another, you’re essentially retaining the same asset just as you would if you exchanged one dollar bill for another dollar bill. Because these assets are fungible they can be traded without losing any value and changing the nature of the asset.

NFTs are an entirely different story. These unique works are stored on a blockchain so they cannot be duplicated or modified. Because no two NFTs can be exchanged on a single basis, unlike fungible tokens and bank notes, there is no way to trade them. NFTs are created by digital artists and document authors. They become the only authentic version of the work.

The NFT Craze Explained

NFTs, in the art industry, are speculative investments. They were created on the Ethereum blockchain in 2017. Artists and vendors have sold original NFT artwork (i.e. analog media such as paintings or photos converted to digital and coded in a blockchain) for fiat currency since then. 

This industry started out as a hobby for blockchain enthusiasts. It is now a fully-fledged industry that is dominated by speculative art buyers who want to make a profit from their investments. A growing number of entrepreneurs are seeking innovative and lucrative ways to bring NFTs on the market. 

10 NFT Business Ideas to Entrepreneurs

Below, I’ve listed my top ten business ideas for entrepreneurs who want to make a play in the NFT world. Bear in mind that this isn’t an exhaustive list. NFTs are still a relatively new industry. There are many potential money-making opportunities with NFTs.

1. Make an NFT Online Course

A course or masterclass could be created if you are an expert in the NFT ecosystem, including how to make, produce, and sell them. The length of the bootcamp could vary depending on whether it is a week-long or a semester-long program.

2. Create a blog NFT-themed

NFT-related content that is informative and well-written is in great demand on the internet. There’s a huge potential readership for any blog that covers NFTs and the news surrounding them. Then, you can monetize the blog with ads or affiliate links after you’ve developed a dedicated readership.

3. 3. Create an NFT Forum

More spaces are needed for NFT enthusiasts, sellers, and creators to discuss their projects. A forum dedicated to NFT could rival Bitcointalk, particularly if banner ads are used.

4. 4.Become an NFT broker

NFTs sell and are bought in record numbers. Naturally, there’s a high demand for secure, encrypted marketplaces and brokerages that allow buyers and sellers to view, commission and transact NFTs. 

5. Create an NFT newsletter

There aren’t many, if any, NFT-themed newsletters that take a deep dive into the subject. A very profitable venture could be made if you are able to combine the most recent NFT news and press releases with market developments in a brief monthly or weekly newsletter.

6. Create an NFT eBook

It’s not unheard of to earn six-figures, potentially even seven-figures, in royalties from a bestselling cryptocurrency ebook. If you’re a gifted writer, consider self-publishing an ebook on NFTs, exploring the subject from as many angles as possible while providing actionable advice to those who want to get started with NFT investing.

7. 6.

NFT markets require a Shopify-type service that can bring projects to life quickly and with little or no additional development. It is possible to create a white-label platform that can help you become a leader in the blockchain industry by offering an NFT service.

8. 8.Become an NFT Artist

Even if you’re not the savviest physical artist in the world, there’s nothing stopping you from producing digital art, even if it’s abstract. You can then convert the art to an NFT and sell it on popular forums like Reddit or DeviantArt.

9. NFT Collections

NFTs are a digital medium that can be used to preserve and authenticate collectibles. NFTs could be made from authentic collectibles such as autographed photos and sports trading cards. 

10. Launch an NFT app

These apps are highly sought-after because they can be used to centrally buy, sell, trade, or mint NFTs. A project that replicates Bid Beacon, BiddingOwl and is focused solely on the NFT market can be very profitable if you get a commission for every sale.

Are You Ready for a Non-Fungible Future

The NFT industry is unique in that it is still young and will require years of development before reaching maturity. This is true for any business venture that you launch in NFTs. If at first it doesn’t succeed, don’t sweat it. At this stage, there’s plenty of room for error in the NFT biz.

It’s the Wild West right now when it comes to startup projects in the NFT space. If NFT art can fetch over $11 million at auction, there’s no reason why a bold and adventurous entrepreneur can’t build on the momentum. You can get involved in the NFT art business by trying any of the ideas I have listed.

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