Can NFT Staking Make NFTs Useful Beyond Art and Collectibles?

[LilianAnderson]

NFTs were traditionally used as a medium of digital art and collectibles, which have been criticized as having little practical use in the real world. However, NFT staking proposes a new value extraction model that allows staking the assets but retains ownership.

Staking NFTs will allow their holders to receive incentives and unlock additional features across ecosystems. This may bring the NFTs beyond the realm of collectibles and provide more useful ways of use in games, DeFi, and community governance. The following are some of the notable opportunities:

• Getting passive rewards and retaining ownership of valuable NFTs.
• Increasing the in-game activities, such as unlocking special abilities or accessing the assets that have been staked.
• Being involved in politics or local decisions with the help of NFT voting.

But a question arises: is NFT staking really that useful, or is it a tool to sustain hype and tokens? This emerging trend has promise and risks, as shown by the debate.
Do you believe that staking can make NFTs useful beyond a piece of art?
Get a closer look at the techniques and concepts of NFT staking in the Medium article: “ What Is NFT Staking and How It Works ” on Medium.