"Back to Dictionary

WHAT IS STAKING IN NFT

We call staking the "blocking" of a cryptocurrency or NFT to receive something in return, usually tokens. It is as if we put our asset in a vault, and after a certain period, we take it out and receive more assets than we had put in (revenue).

These stakings can be created for differentreasons, with differentobjectives and with differentrewards.

If we refer to NFT, the projects usually release their own staking for their NFT collection in which the holders in exchange for staking receive tokens, usually one of the project's own with some utility. It is common that these tokens can then be used in their tools(raffles, minigames, etc.).

Surpass your competitors?

Join our Newsletter and receive weekly Blockchain news specialized in web3 creators.

PODIUM PNG - Smithii
SMITHII LOGO

All-in-one Solution for Solana Projects

Features

Analytics

Management

Smithii Tools

Apps

Resources

Tutorials

Affiliates

NFT Course

Blog

Dictionary

Sitemap

Subscribe

Receive weekly news
for Solana Creators

© 2024 Smithii | All rights reserved