Top 10 NFT Businesses That Will Grow in 2022 and Beyond

You may ask me what makes you ascertain a business will grow in 2022? Well, a firm that (is set to) mature in 2022 should have had an astounding 2021 with a good market trajectory. And, when it comes to last year, nothing enjoyed more traction than non-fungible tokens (NFTs). So, choosing any business model based on it must be wise. However, to zero in on, I've enlisted ten best NFT business ideas that will dominate in the current year. Let's get into it.

1. Trading NFTs

The most common approach for entrepreneurs in the NFT ecosystem to generate revenue is selling NFTs directly to users. Video game producers and creators, for example, have already entered the NFT market. The revenue generated by the NFT business accounts for the majority of the total revenues. Experts believe that selling NFTs directly to customers will generate revenue shortly.

2. Leveraging Wearable NFTs

The emergence of the Metaverse and Web 3.0 will disrupt various industries, including the multibillion-dollar global fashion business. Traditional fashion design can evolve into virtual wearables that can be used in augmented reality (AR) and real-life as the world shifts from physical to digital.

Take the fashion technology company Style.me (for instance), which bestows the community with wearable NFTs. Also, it creates and distributes fashion NFTs, allowing people to wear, share, and use them across the metaverse. In addition, the company gives its partners the ability to bring their physical collections.

3. Providing White-label Services

White-label vendors generally offer rebranded solutions to entrepreneurs with endless customizations. Amidst the growing entrepreneurial world, these white-label solutions matter (a lot). Likewise, offering white-label NFT development services might be a viable business idea. When entrepreneurs are in dire need of such off-the-shelf services, you can monetize the offerings easily! Imagine from the shoes of an entrepreneur: would you prefer something which takes a long time or something with instant gratification?

4. Monetize Your NFT Expertise

The barrier to enter into the NFT sector would be much higher, costing a lot of money and time. As a result, you may start compiling NFT-related courses to share with others. You can list on popular eLearning sites (for instance, Udemy) or any blockchain-specific websites. Wonder if you can manage to pull people into your course? 

Remember that the NFT is technically complex, and the beginners may struggle. You must simplify the concepts (as much as you can) to educate them better.

5. Build Your NFT Lending Platform

Users will utilize the NFT as collateral for loans to start their own business or make other investments through the NFT loan platform. This will draw more end-users to the NFT loan & borrowing platform, making it a profitable niche to consider when entering the NFT realm. Transparency, Interoperability, Cross-Chain Compliance, and Immutability are advantages of this technology.

Suppose you're wondering if any such existing platform, take Arcade (for instance), which recently launched a lending platform. Arcade's platform escrows high-value assets on the Ethereum blockchain using the Pawn Technology smart contract protocol.

6. Launch Your NFT Marketplace

NFT auctions might help you make a lot of money with NFT services. non-fungible token exchanges are conducted on these marketplaces. All of the main NFT marketplaces use the regular auction mechanism. Traditional markets have also influenced their revenue model. A set of fees applies to any sale made through the NFT store.

One of the most promising business ideas for the foreseeable future, given the tremendous growth of NFT art, is to start your own NFT marketplace. Your site should contain brand storefronts and an easy-to-use search tool like any other marketplace. Furthermore, comprehensive regulation of digital assets submitted to platforms is essential to create a straightforward interface for sellers.

7. Create Your NFTverse

Have you heard about the metaverse? The technology-backed virtual world where users can simulate whatever they want from owning a piece of land, crafting a virtual billboard, and much more. You can create a community-specific metaverse where holders of your NFTs virtually experience it.

Because the virtual world has grown in popularity in recent years, now is the greatest time for you to design and launch your virtual reality. Decentraland, a decentralized virtual platform that allows users to acquire virtual plots, is excellent. As a result, virtual experiences such as concerts, NFT galleries, digital exhibits, and other comparable events are displayed on this platform.

8. Become an NFT Consultant

As an NFT Business Consultant, all you have to do is point businesspeople and investors in the proper direction. NFTs have now been shown to be the ideal investment option, with many people interested in purchasing them. The most important thing you can rely on as a business consultant is the NFT Trend to help you take the best path for your clients.

9. Monetize The NFT App

Crafting a decentralized app (or DApp) is a viable NFT business ideal amidst an increasing business ecosystem. Moreover, there aren't many decentralized applications available out there. So, anything related to gaming and social networking might do the trick! Leverage well-crafted NFT development solutions to shape up your NFT application.

10. NFT Marketing services

The use of NFTs is rapidly increasing, and enterprises are quickly adopting this technology. As a result, there is a huge need for NFT marketing services. NFT marketing supports NFT projects and attracts a diverse user base. As a result, it's a fantastic method to break into the NFT sector and build a robust business model. 

Conclusion

While talking about business ideas, I couldn't stop recalling Steve Jobs' legendary quote - To me, ideas are worth nothing unless executed. 

Hire a proficient NFT development company (aka) technology partner to execute your ideal/favorite business idea!