Earn Passive Income from NFTs with EverGrow Coin’s NFT Marketplace

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by Analytics Insight


April 2, 2022

About 28.6 million wallets traded NFTs last year, but not everyone made a lot of money.

Cash flow in NFTs equaled the funding made available by the World Bank to purchase COVID-19 vaccines last year. Total NFT sales in 2021 were $25 billion according to market tracker DappRadar – a massive $95 million increase in sales throughout 2020.

About 28.6 million wallets traded NFTs last year, but not everyone made a lot of money. While Beeple’s “Everdays – The First 5,000 Days” sold for a record $69.3 million at Christie’s, the most common NFT sales were between $100 and $1,000.

Moreover, only 10% of merchants completed the overwhelming majority of transactions (85%). This leaves a huge amount of low to medium value NFTs gathering dust in millions of digital wallets.

How to Generate Passive Income with NFTs

The most common way to make money with NFTs is through trading. You put an NFT up for action on one of the top marketplaces like OpenSea, and hope someone meets the minimum bid requirements. Unless you are an artist or the owner of one of the most famous NFT collections (like BAYC or Crypto Punks), you are unlikely to break the $1000 barrier.

It’s here that EverGrow PartThe NFT market of comes into play. EverGrow Coin was started as a project to help crypto newcomers and experienced investors earn passive income from digital assets. It started with EverGrow Coin which became the leading think token on the BNB chain (over $35.5 million BUSD paid out to investors since September last year) and continues next April with a new NFT market .

In a market preview video, EverGrow Coin President Sam Kelly discusses the Innovative Lending tab in the top menu. This is a first in crypto. When the NFT market drops in April 2022, it will be the first to allow users to borrow crypto using only their NFTs as collateral.

The mechanism, built on top of the fast and secure BNB chain, will give NFT owners a whole new way to access crypto and watch it work to make passive income.

EverGrow Coin’s NFT Market Goes Meta

Before the end of 2022, the NFT market will also be launched in the first such metaverse. EverGrow Coin partner Objective Reality Studios recently offered a preview of the virtual gallery where users can buy, trade, and borrow against their NFT assets, all within a metaverse called The Abstract.

The Abstract not only combines a virtual crypto exchange (which looks like a fancy bank) and gambling games to earn cloud streaming, but provides easy access for newcomers to crypto. The Abstract will speak to the 50 million US citizens equipped with VR headsets, many of whom lack the computing power to play high-quality games at home.

This means for NFT owners a marketplace that does not directly compete with existing platforms like OpenSea, but brings its own user base to buy, sell and borrow against NFTs. EverGrow Part announced that the NFT market will drop in the coming weeks as the team of top development and investment professionals fine-tune the final interface.

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