• Lynk has launched its NFT staking portal that allows users to earn attractive yield daily by staking their Finder and Keeper NFTs.
• NFT staking involves temporarily locking NFTs on a specific platform or protocol to gain rewards and other benefits.
• Binance has already begun experimenting with NFT staking, offering users an Ape NFT Staking Program with attractive Annual Percentage Yield (APY) ranging from 256-438%.
What is NFT Staking?
NFT staking involves temporarily locking Non-Fungible Tokens (NFTs) on a specific platform or protocol to gain rewards and other benefits. It is a process that enables NFT holders to utilize their unused assets without having to sell them. This mechanism operates similarly to the staking of cryptocurrencies, where a participant can participate in the staking process with just a digital wallet. Staking NFTs allows users to earn passive income from their idle assets. The NFTs remain in the possession of the user, and they have the freedom to remove them from staking at any time.
Binance’s Ape NFT Staking Program
After the introduction of NFT staking, several prominent players in the blockchain space have already begun experimenting with it. Binance, perhaps the world’s biggest centralized exchange, launched an Ape NFT Staking Program for users who own NTFS within Bored Ape Yacht Club (BAYC). This program offers users an attractive Annual Percentage Yield (APY) ranging from 256-438%.
Lynk’s Finder and Keeper NFTS
The SocialFi platform Lynk has announced the launch of its own version of an NFTS takings portal titled „Lynk Live“. Starting from 13th March 2023 05:00 UTC members can stake their Lynk Finder and Keeper NFTS for even more attractive yields than those offered by Binance along with additional opportunities through community led activities and challenges. These two types of NFTS hold keys which unlock mysteries behind something called LYNKVERSE . Each type possesses 4 attributes: Charisma (CA), Vitality (VA), Dexterity (DX), and Intellect (IN), which directly influence how much reward one could receive while participating in this program daily.
Lynk currently offers an impressive Annual Percentage Yield ranging between 256-438% without levying any additional fees apart from nominal gas fee required during transactions which are facilitated thanks to Lynk’s advanced technology stack allowing members multiple ways earn passive income using their idle assets without needing to sell off their valuable NFTS possessions!
The launch of Lynks‘ new portal is taking advantage of various advancements made in blockchain technology recently making it easier for people possessing valuable non fungible tokens reap greater rewards than ever before!