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NFT staking is a brand new way to earn passive income in the cryptocurrency space.Holders can earn rewards by locking up NFT assets in a decentralized finance (DeFi) platform, all without having to sell their NFT collectibles.NFT blind box mining system development inquiry A Peng: 132..wei 4z77 z558, NFT blind box mining development and construction technology.

Similar to DeFi liquidity mining, NFT staking relies on a proof-of-stake (PoS) mechanism to reward participants.After the user locks the NFT, the reward will be calculated based on the annual yield (APY) and the number of pledged NFT.

As far as individual investors are concerned, since the overall supply of NFTs is generally low, staking yields are substantial.But in a broader context, NFT staking has long surpassed the meaning of digital art collection, and NFT ushered in a new use case.

Most people believe that non-fungible tokens (NFTs) are digital works of art and collectibles that will appreciate in value over time.Some NFT projects will share income with the NFT holder community, which is mainly derived from secondary market sales and royalties.

The NFT market continues to grow, with developers, artists and collectors exploring new use cases for their NFT collectibles.The most representative novel use case is the use of NFTs as utility tokens for staking platforms.For example, NFT collectors stake NFTs in certain game metaverses to improve the skills of game characters and earn additional rewards.

What is NFT pledgeand how it works?

As the name suggests, NFT staking refers to a way of locking NFTs on a platform or protocol to earn staking rewards and other privileges.NFT holders can earn passive income while enjoying NFT ownership.

NFT staking is still in its infancy, but it is similar in concept to other decentralized finance (DeFi) liquidity mining operations.After users lock NFTs to the platform, the rewards they get will be determined by the annual rate of return (APY), the duration of pledge, and the amount of NFT pledged.

Due to the special nature of NFTs, investors and collectors usually choose long-term holding and speculative trading, and NFT staking provides them with new opportunities to monetize assets, which can attract more people to participateAmong them, the market demand for pledged NFTs will increase.

Staking NFTs is not much different than staking bitcoin (BTC) or ether (ETH).Just get your cryptocurrency wallet ready to start your NFT journey.However, not all NFTs can be staked to earn rewards.Specific requirements vary from project to project, and it is best to verify the requirements of the selected project before purchasing an NFT.

step2: Write

Write a smart contract (suffixed with .sol) using a smart contract programming language such as Solidity.

A smart contract instance can be understood as an object. Writing a smart contract is similar to writing a class, which can define various variables and functions in this class.

Here is a simple example.The following code is a smart one.The contract SimpleStorage has only one variable storedData, and set and get methods.

contract SimpleStorage{

string storedData;

function set(string s){

storedData=s;

}

function get()constant returns(string){

returnstoredData;

}

}

step3:Compile

Use the solc compiler to.sol contract code is compiled into EVM bytecode.

step4: Deployment

Uploading and deploying the compiled contract code to the Ethereum blockchain through the Ethereum client consumes GAS and requires the contract to initiateThe user signs the contract to be deployed with his own external account, and after confirmation by the miner, the contract code is stored on the Ethereum blockchain, that is, the smart contract is sent to all devices connected to the network.In this step, the user can obtain the address of the contract and the interface required to call the contract for later use.