Staking

Use properties to

Don't ship with this page. Much of the section below should move over to life tokens.

Outline

​NFT staking refers to the "depositing" of NFTs on a platform to receive staking rewards and other privileges. This allows NFT holders to earn the platform's native utility token while still maintaining ownership of their NFTs.

While NFT staking is still in its infancy compared to other DeFi yield farming concepts, they work in a similar way. By locking up NFTs on a platform, users can receive rewards depending on the properties of the asset being deposited, the staking duration, and the number of NFTs staked.

Due to the unique nature of NFTs, investors and collectors generally prefer to HODL and speculate. NFT staking opens up a new opportunity for them to gamify their assets, which could potentially attract more people to participate and drive up the market demand for stakable NFTs.