Lucky11: Earning Passive Income Via NFT Staking!
Those times are gone when trading was limited to money transactions only. Now, as technology is advancing, Lucky11 online casino has found several other transaction modes. Stock and cryptocurrencies have helped several people to earn money passively. Cryptocurrencies have created speculation across the globe since Elon Musk tweeted about them. The people went frenzy about it, leading to some ups and downs in its price.
Similarly, NFTs or Non-Fungible Tokens have taken over the world. These are some unique cryptographic assets. As rare as they are their value increases. One can stock them up to increase their price values. NFTs have gained such remarkable popularity not only because its rare, but because they can generate good returns.
NFT Staking- What is it?
Blockchains rely heavily on their global network of transaction verifiers who verify authenticity before data is added to the blockchain. These authenticators (or miners) are determined based on the amount of cryptocurrency they commit to the operation of the blockchain network. In return, the miners received rewards in the form of a traditional cryptocurrency for providing services. This model of crypto assets promises is called the 'Proof-of-Stake' model, and the process is called 'staking'.
Similarly, NFTs can be dedicated to some cause. While you are supporting any particular cause, you are simultaneously earning passive income through it. You can also earn NFTs by playing gambling games on platforms like DeCentral Land, Axie Infinity, Sandbox, etc. NFT's value entirely depends on the platform you have chosen and also its rarity.
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