Best NFT Staking Projects in 2023

With the NFT market growing rapidly, creators and developers are looking for new use cases for non-fungible tokens. One of the latest utilities of NFTs is to stake these tokens to generate passive income.

In this guide, we review the best NFT staking projects to consider in 2023. We will also explain what NFT staking is and how investors can benefit from this passive income strategy.

Before deciding to invest in an NFT for the purpose of staking, it is crucial to consider its future prospects.

In the following sections, we review the projects listed above, while paying close attention to their staking features.

A Closer Look at the Best Staking NFTs 

Staking is not exactly a new concept, especially for those who are already familiar with cryptocurrencies.

In simple terms, the process often refers to depositing NFTs into a DeFi platform to collect rewards. To get started, investors only need a cryptocurrency wallet with NFTs.

Moreover, more NFT projects have their own in-built DeFi tools – which makes the process even more seamless.

However, the tricky part is that not all NFTs can be used for staking. On the contrary, there are only a handful of NFT projects that support this feature.

Below, we have included a detailed review of some of the most popular staking NFT projects available today.

1. RobotEra – Overall Best Staking NFT Project for 2023

RobotEra is an upcoming metaverse crypto-gaming project that offers various DeFi (decentralized finance) protocols by leveraging blockchain technology and allows players to stake tokens to earn passive income.

Staking is just one way players can leverage TARO, the in-game cryptocurrency, to generate revenue from the game, with various other avenues available.

TARO has just launched its presale in mid-November 2022, with the token is available to buy through three presale stages and currently price at $0.02 per token.

The token controls the in-game economy of the Taro Planet, the virtual metaverse world of RobotEra that was destroyed and needs to be rebuilt.

Taro hosts 7 continents and allows players to join the universe as 3D avatars of Robots, with the Robots minted as NFTs via ERC-721 smart contracts  and with a limited supply of 10,000.

On the RobotEra marketplace, members can buy Robot NFTs and purchase metaverse plots of Land as NFTs as well.

One of the top staking projects, the RobotEra whitepaper confirms that the token can be staked to earn a potentially high APY (Annual Percentage Yield) – this will allow token holders to access the Taro Planet and simultaneously earn revenue by locking up TARO.

Staking this new cryptocurrency also gives users access to the RobotEra decentralized autonomous organization (DAO), which gives users voting and decision-making rights.

Since each Robot NFT belongs to different factions, the voting rights allows users to create implementation strategies for their own factions.

The game can be monetized in a variety of ways – from building and selling robot companions on the open market as NFTs, to charging admission to events in the metaverse or selling billboard space to advertisers.

Players can also complete tasks and quests for rewards and mine their land for resources.

RobotEra is an LBank Labs project and has a doxxed and KYC-verified team – to access all of these use cases, investors can buy TARO on presale.

Now in stage one of the presale, 90 million tokens are available to purchase at $0.02. The price will increase per round, with the final round allocation TARO for $0.032 per coin, an increase of 60%.

Interested readers can join the Telegram Channel to keep in touch with all the new developments surrounding the projects.

2. Tamadoge – New NFT Staking Meme Token

Tamadoge is one of the best new crypto projects of the year and unique in that it has a proud meme coin – TAMA – as well as NFT ownership and play-to-earn gaming elements in its wider ecosystem.

TAMA enjoyed a highly successful IEO launch at the end of September and returned nearly 2,000% gains for early investors, rocketing up the meme coin charts to become the third largest by trading volume, trailing only Dogecoin and Shiba Inu.

The project also released its NFT pets which became the top trending collection on OpenSea after launching.

The NFT pets will be at the center of the Tamaverse and allow holders to battle others for prizes and rewards. Working like 90s craze Tamagotchi, holders look after, feed and care for their pets – treating them with toys and food – so they grow into adults.

Once fully grown holders can battle other Pet owners for their place at the top of a global leaderboard.

Later in the roadmap more P2E arcade games will be released, and the pets will transform into 3D and then augmented reality – with an app released that will allow owners to take their pets out into the real world to explore.

Tamadoge pets do not have a traditional staking function, but their play-to-earn element means holders will be able to return rewards via their ownership. Tamadoge raised $19 million on presale, and was eventually listed at $0.03 on OKX’s centralized and decentralized exchange.

While the price of the token has retraced from its all-time highs – like many coins in the current bear market – TAMA’s price now represents an excellent entry point for investors with the game to be released in the coming months and the wider ecosystem continuing to grow.

When market conditions improve, the price of TAMA is expected to pump.

3. Silks – A Thoroughbred Horse Racing P2E Game

The NFT market is quite crowded with P2E games, and there aren’t many that stand out, as the experiences are mostly the same. There are exceptions, however, and there is no bigger exception than Silks.

This P2E game sees players buy, trade, breed, and race thoroughbred racehorses. However, it goes further by mirroring real-world horse racing. If your horse wins in the real world, you earn rewards as the owner of the metaverse counterpart. This unique mechanic is ripe for potential in terms of marketing and adoption.

Silks NFTs are one of the key components of the game, as the various collections have an impact on various game mechanics. These collections include Silks Avatars, Horses, Stables, and Land. It’s worth talking about Silks Avatars now because the sale is currently going – and 65% of the collection has already been sold!

There are a total of 10,000 unique avatars in the Silks Avatars collection. Originally, there were 5,000, but there was such popular demand that the team released another set. The collection has become popular enough that it is in the top 10 sports NFTs on OpenSea and is considered by a growing crowd to be the number one fantasy sports Web3 game.

You will need a Silks Avatars to participate in the game – think of it as your virtual jockey. The benefits of owning a Silks Avatar include a lifetime mint pass for the annual Genesis Yearling Sale, exclusive experiences, giveaways, and IRL events. These activities earn players rewards. Avatars have different traits and rarities.

As for the other NFTs, they perform other functions, as mentioned earlier. However, if you don’t have the time for this, you can always stake in the Community Horse Farms for NFT rewards instead. This is still an excellent way to participate and earn on the platform.

Silks is proving to be one of the hottest P2E games on the market. It’s got several unique mechanics closely tied to the NFT collections and players have several ways to earn rewards. It’s a P2E game to keep an eye on, which could significantly impact the real-world horseracing industry.

4. Lucky Block – Market-Leading NFT Competitions Platform

Launched in 2022, Lucky Block is one of the most popular crypto projects of the year. This platform regularly hosts competitions, offering every Lucky Block NFT holder a chance to win prizes. Moreover, investors can earn rewards simply for participating.

In fact, Lucky Block is the first project to offer blockchain-based prize draw competitions. Not only that, but unlike the majority of the new NFT projects being launched, Lucky Block has not limited itself to a single collection. Instead, it regularly releases a new series of NFTs, each twinned with a unique competition.

When an NFT collection sells out, the underlying smart contract will randomly select an eligible winner from those who entered the competition. For instance, at the time of writing, Lucky Block features a limited collection of 10,000 Platinum Rollers Club NFTs. Holders of these NFTs are automatically entered into Platinum Rollers Club competitions hosted by the platform.

Competitions are held every week, and the prizes range from game consoles to Lamborghinis. Additionally, Lucky Block also has its own native digital token – LBLOCK. Those who hold Lucky Block NFTs are also offered rewards in this token. The longer the investor holds the NFT, the more tokens they are rewarded.

Holding LBLOCK tokens also unlock exclusive prizes on the Lucky Block platform, regardless of whether they win a competition. The LBLOCK token can be purchased from popular crypto exchanges such as Uniswap, MEXC, and LBANK. This is a dual ERC-20 and BSc token hosted on the Ethereum and Binance networks, respectively.

Crucially, while Lucky block does not ‘technically’ support NFT staking, for all intents and purposes, it incentivizes those who hold their non-fungible tokens long-term. This way, investors have the opportunity to participate in competitions and get rewards in LBLOCK tokens simply by HODLing.

Read our detailed guide on how to buy Lucky Block NFTs here.

5. Quint – Exciting NFT Project With Super Staking Features

Quint is one of the coolest NFT projects that was launched in recent years. This ecosystem comprises a few notable features,  including an NFT marketplace, the Quint shop, and a super staking pool. The super staking pool is, however, what sets this project apart from the rest.

While typical NFT staking pools offer rewards in the form of digital tokens, the Quint staking pool also aims to add unique real-world collectibles to its treasury. These incentives range from complimentary stays in popular travel destinations, supercar experiences, and discounts on hotel bookings, restaurants, properties, and much more.

In addition to this, the Quint platform also runs luxury raffle pools, which offer exclusive prizes to participants. To get started, investors can purchase tailor-made NFTs via the platform’s marketplace. Quint focuses on offering luxury NFT services, which means that investors can also get freshly minted NFTs framed and get them delivered to their doorsteps.

One of the unique future goals of Quint is to develop real estate in the real world. The platform will then make Quint holders fractional owners of these luxury properties in proportion to their investment into the project. The Quint team is also working on a P2E game concept and will be adding multi-chain support to the platform.

The Quint ecosystem is hosted by the Binance Smart Chain. To buy NFTs, investors need to have Quint tokens in their wallet – which can be purchased via PancakeSwap.

Cryptoassets are a highly volatile unregulated investment product. 

6. Mobox – Play to Earn Platform With NFT Yield Farming 

Mobox is a play to earn gaming platform that combines NFTs with yield farming. The Mobox metaverse is called MOMOverse, and is built on the Binance Smart Chain. Within this ecosystem, players can mint, earn, or trade Mobox NFTs – which are called MOMOs.

Each MOMO NFT comes with unique qualities and a randomly generated hash power. Mobox allows players to stake their NFTs in order to farm the platform’s governance token MBOX. The more NFTs that are staked, the more MBOX rewards can be earned each day.

Another plus point is that the MOMO NFTs can not only be used within the MOMOverse, but also on Mobox’s partner platforms. Similarly, NFTs from partnering projects can be utilized in the Mobox ecosystem too. For instance, investors who have staked PancakeSwap Profile NFTs will be able to use them on MOMOverse – without having to unstake them from the DEX.

What’s more, this way, players can enter team battles in Mobox to collect MBOX rewards and earn CAKE staking points on PancakeSwap at the same time. This feature is a reason why Mobox continues to be one of the best metaverse projects to emerge in the NFT space.

7. Mutant Cats – Stake Mutant Cats to Earn New NFTs

Mutant Cats is perhaps the first crypto project that purchases and fractionalizes other blue chip NFTs. The project has set up a secure vault that contains NFTs from some of the most popular projects of all time. Some of the most notable NFTs in the Mutant DAO vault include CryptoPunks, Bored Ape Yacht Club, Tyler Hobbs, and more. 

In addition to this, the project has also launched its own collection of 9,999 NFTs. These are built on the Ethereum blockchain and feature unique feline avatars with different traits. Investors can buy Mutant Cat NFTs and stake them to earn FISH tokens, the native digital token of the project.

The staking program pays out 10 FISH tokens per day for each staked NFT. These FISH tokens represent fractional ownership of the DAO’s assets stored in the vault. As per the Mutant Cats team, the project is also planning to establish specialized groups of community members who are dedicated to the growth of the project.

8. Doge Capital – Stake NFT Pixel Art

Doge Capital is another project that has launched an exclusive collection of art NFTs. There is a total of 5,000 NFTs, each depicting a 24×24 piece of art. Moreover, like the Mutant DAO, Doge Capital also invests in other popular NFT projects.

The platform has set up a vault named Woofbank, where it stores the NFTs and other assets for its community. The project allows investors to stake their Doge Capital NFTs to earn DAWG tokens in return. These digital tokens can be purchased via some of the best cryptocurrency exchanges in the market.

In the upcoming stages of the project, Doge Capital will also start a renting service through which its holders can borrow NFTs stored in the Woofbank vault. The ecosystem will also include a play to earn game, which will help the users generate  DOGE tokens as revenue.

There is a total supply of 30 million DOGE tokens. The project aims to fully launch towards the end of 2022. However, it has already attained popularity as one of the best staking NFT projects available today.

9. Famous Fox Federation – Stake Multiple NFT Collections

Famous Fox Federation is a Solana-based project that features multiple NFT collections. At the time of writing, it has a Genesis collection, which consists of 7,777 generated foxes. Additionally, it also has the Pixel collection, which are the pixelated versions of Famous Foxes. This set also has a total of 7,777 NFTs.

The metaverse collection comes with 3,000 NFTs. These function as the key to unlocking the player’s private metaverse space. Players can show off their NFTs in this virtual space and even earn rewards. Moreover, the project also has an exclusive Friends & Foes Collection that consists of a series of NFTS created by famous artists.

There are only 15 NFTs in this set, and they are usually auctioned off for FOXY – the digital token of the Famous Fox ecosystem. All Famous Fox NFTs can be staked to generate rewards in the form of FOXY. The tokens have to be staked for a minimum of three days, with no maximum duration.

The FOXY tokens claimed can be used to mint upcoming NFTs and unlock other features on the platform. The amount of FOXY generated will depend on not only the number of tokens staked but also the collection. For instance, the Genesis collection earns 100 FOXY tokens a day, whereas the Pixel set earns only 25.

10. Wolf Game – NFT Game With Staking 

Wolf Game is a metaverse project that has integrated NFT staking into its gameplay. In this universe, NFTs are available as Wolves and Sheep. Players will have to stake their sheep NFTs in order to protect them from wolves.

Staking Sheep NFTs will also earn players WOOL tokens as a reward. In the case that Sheep NFTs are not staked, the wolves will steel all the WOOL tokens accumulated by the player. In other words, this project makes NFT staking fun and immersive.

However, there is only a limited supply of 5 billion WOOL tokens. When the supply reaches 2.4 billion tokens, the staking faucet will turn off. As such, those interested in this token will want to consider getting started soon to make the most of the staking feature on offer.

What is NFT Staking?

NFT staking involves locking away non-fungible tokens onto a blockchain protocol in exchange for a reward.

From an investor’s perspective, staking isn’t entirely different from opening a savings account with a bank. However, with staking, instead of money, it will be NFTs that are deposited.

In return, investors can earn rewards, often in the form of digital tokens.

There are a number of reasons why an NFT project promotes staking:

• To drive up scarcity – If an NFT is staked, it remains locked away and cannot be sold. This means that the supply will be reduced for a period of time, potentially pushing the price up.
• To offer passive income – NFT providers also use staking as a means to offer incentives to their loyal investors. When someone locks an NFT away, they are offered a reward in return, usually via the project’s native digital token.
• To support the PoS network – Projects that are built on proof-of-stake mechanisms verify transactions with the help of validators. To do so, they might need to have access to an NFT – which is taken from the staking pool.

To get started, investors only need a wallet with support for NFTs.

That said, the requirements will vary between two different projects; therefore, it is best to check the conditions and the rewards on offer before investing in a staking NFT.

How Does NFT Staking Work?

Crypto staking is already a popular concept in the blockchain space. While NFT staking uses the same underlying concept, it is still nascent when compared to DeFi yield farming.

NFTs were initially launched as collectibles. This meant that investors would often prefer to HODL their NFTs with the hope of reselling them if and when their value increases.

This means that an investor might have to wait a long time before they can make any capital gains from an NFT – if at all.

Staking offers a new way for investors to monetize their NFTs. In fact, this rising demand has led to the emergence of several new staking NFT projects in the market. That being said, not every NFT staking project will turn out to be financially favorable.

After all, if the value of the NFT plunges after staking, the investor might face losses. This is why it is important to pick an NFT collection that has the best chance of increasing in value in the future.

Similarly, when deciding to stake NFTs, it is paramount to have a good idea of what the investing goals are. To find the best NFTs for staking, investors will need to find out what the project is about. As such, solid market research is very important.

Benefits of Staking NFTs

Is NFT staking really worth it? Ultimately, it will depend on the market value of the NFT as well as the rewards on offer.

Regardless, here are some of the benefits that might make NFT staking attractive to investors.

Simple to Get Started

For a beginner, the concept of NFT staking might sound a bit overwhelming. However, NFT staking requires practically no effort from the holder’s end. Most NFT projects offer staking facilities directly via their own website.

This means that investors can simply connect their digital wallets to the chosen platform and stake their NFTs.

Sometimes, investors will have to lock away the NFT, and when the staking period is complete, they can claim the subsequent rewards at the tap of a button. The rewards offered will then be added to the user’s wallet automatically.

Support NFT Projects

Staking is also a way to contribute to the safety and efficiency of NFT projects. It can help strengthen the project and increase the value of the NFT in the marketplace.

Similarly, some projects also offer holders of NFTs exclusive rewards. The native digital tokens that are offered as rewards also carry additional perks, such as voting power and governance in the future direction of the project.

Generate Passive Income

Needless to say, the most beneficial aspect of staking NFTs is the opportunity to generate passive income. Instead of simply holding a token, investors can stake it to earn rewards that are usually paid in cryptocurrencies.

These digital coins can be used to purchase other assets available within the project’s ecosystem or can be traded on crypto exchanges. That said, bear in mind that the value of the digital token offered can and will fluctuate.

Risks of Staking NFT Projects 

While NFT staking has a few notable advantages, this strategy is not without its risks.

When staking NFTs, investors might have to lock them up for a specific duration, depending on the type of platform or collection. During this time, the value of the NFT can go up or down.

However, since the NFT will be locked up during the staking term, it might not be possible to trade them or cash out. This could lead to an investor losing a profitable opportunity in the market.

Similarly, NFTs, like crypto, are extremely volatile. This is due to high speculation in the market. So, after locking an NFT, the price of the token might drop significantly. Put otherwise, the investor won’t be able to sell during a market downturn.

Nonetheless, as we pointed out earlier, the NFT staking market is on the rise. This means that there are several new projects being launched that support flexible staking and other attractive functionalities.

How to Buy Stake NFTs – RobotEra

As we discussed earlier, RobotEra is one of the best staking NFT cryptocurrencies to invest in 2023. The sections below show investors how to purchase TARO – the native cryptocurrency of RobotEra.

Step 1: Set up MetaMask 

One of the first requirements to buy TARO is to set up a cryptocurrency wallet. TARO can be purchased with a MetaMask wallet and is available as a mobile app for iOS and Android devices.

However, it is much easier to use the MetaMask browser extension on a laptop.

After adding MetaMask to the browser, users will need to create a new wallet and set a strong password.

MetaMask will then generate a 12-word recovery phrase. It is important to note down this phrase as it is necessary to regain access to the wallet in case the password is lost.

Step 2: Purchase ETH or USDT

Taro can be purchased on presale by swapping ETH or USDT tokens. If you do not hold these assets, purchase ETH/USDT from a suitable cryptocurrency exchange and send the assets to your cryptocurrency wallet.

Step 3: Connect with the TARO Presale

After you have added ETH or USDT to your crypto wallet, head over to the TARO presale website. Investors can click on ‘Connect Wallet’ and choose MetaMask and connect with the platform.

On the other hand, WalletConnect is another crypto wallet which is compatible with the presale platform.

Step 4: Buy TARO Tokens

After connecting with the presale platform, investors can click on ‘Buy with USDT’ or ‘Buy with ETH’ – depending on which asset they hold in their wallets.

Enter the number of tokens you wish to purchase (minimum 1,000 TARO) and click on ‘Approve’. Investors will be able to access their assets after the presale ends.

Conclusion

NFT staking might be a good option for investors interested in holding their non-fungible tokens for the long term. This strategy allows them to generate yields on NFTs, which would otherwise sit idle in their wallet.

That being said, there are a number of notable projects that reward NFT holders in other ways.

RobotEra is one of the best new NFT staking projects which leverages TARO as its in-game currency and native token.

Staking will generate passive income to players as well as grant voting rights in the RobotEra DAO. TARO is available to buy for $0.02 during its first presale round.

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FAQs

What does staking mean in NFTs?

Staking is the process of locking away NFT tokens for a fixed period of time to earn rewards. With most staking NFTs, these rewards are offered in the form of digital tokens.

What is the best NFT for staking?

There are several established and new staking NFT projects that offer a passive income for investors. Some of the most popular choices include Mutant Cats, Axie Infinity, Doge Capital, Mobox, and more. RobotEra is another upcoming NFT staking project to invest in 2023.

How do I stake NFTs?

Most NFT projects support staking directly via their website. Investors can simply connect their digital wallet to the platform and start staking the respective NFT straightaway. 

How much does it cost to stake an NFT?

Investors might have to pay a gas fee when staking NFTs. The specific fees will depend on the blockchain. As such, this will be deducted from the rewards offered.

Read More: NFT NYC Kicks Off in New York

Best New NFT Projects for 2023

  This article was written for Business 2 Community by Kane Pepi.
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Author: Kane Pepi

Kane Pepi is an experienced financial and cryptocurrency writer with over 2,000+ published articles, guides, and market insights in the public domain. Expert niche subjects include asset valuation and analysis, portfolio management, and the prevention of financial crime. Kane is particularly skilled in explaining complex financial topics in a user-friendly …

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