Start A Nft Cryptocurrency - Business Ideas

Updated: September 15th, 2022
Start A Nft Cryptocurrency

Please note that the data provided in this article are estimates and may vary depending on various factors, and should not be considered as perfect or definitive.

Starting a NFT cryptocurrency requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell NFT cryptocurrency, or selling NFT cryptocurrency online, you can use this page as a guide for everything you'll need to know.

Key Stats

market size
$1T
starting costs
$5.89K
gross margin
65%
time to build
210 days

Startup Costs

Min Startup Costs Max Startup Costs

Office Space Expenses

$0

$7,000

Training & Education Expenses

$0

$1,000

Software Expenses

$0

$594

Advertising & Marketing Costs

$0

$2,750

Website Costs

$13

$215

Specific Industry Expenses

$0

$100

Total Startup Costs

$13

$11,659

Successful Businesses

Business URL Rank

NiceHash

nicehash.com

3,289

SuperRare

superrare.com

8,531

CryptoKitties

cryptokitties.co

21,062

Bibox

bibox.com

35,972

NFTX — enabling NFT Index Funds

nftx.org

84,265

Cryptonary

cryptonary.com

121,255

ETHGlobal

ethglobal.co

165,653

DailyCoin.com

dailycoin.com

262,569

Coinstituency

coinstituency.com

546,024

Just a moment...

bonktoken.com

823,661

NFT.NYC

nft.nyc

922,915

Pros & Cons

Pros Description

Flexibility

You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.

Ability to start your business from home

It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!

Little startup costs required

The cost to start a NFT cryptocurrency costs significantly less money than most businesses, ranging anywhere from 12 to 11,659.

Rewarding work

Starting a NFT cryptocurrency can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.

Scalable

With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.

Traffic to your website

A NFT cryptocurrency gives people a reason to visit your website and to keep coming back to you!

Cons Description

Crowded Space

Competition is high when it comes to your NFT cryptocurrency, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.

Constant maintenance of publication

You may find yourself constantly needing to update your NFT cryptocurrency in order to stay relevant for your audience and for those searching on google.

Lack of benefits

With a NFT cryptocurrency, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.

Isolation

Often times, as a NFT cryptocurrency, you typically work alone and do not have much face-to-face interaction with other team members.

Taxes

As a NFT cryptocurrency, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.

No safety net

Typically, as a NFT cryptocurrency, you do not receive a consistent pay-check and instead earn money based on your transactions each month. During the slow periods, you typically take away less since the job is based on commission. It's important to budget accordingly for the slow times.