Staking is a method of verifying transactions in several cryptocurrencies, and it allows users to earn incentives for their holdings. But what exactly is cryptocurrency staking? Staking cryptocurrency is the process of committing your crypto assets to a blockchain network in order to sustain it and confirm transactions.
People nearly always think of non-fungible tokens (NFTs) as digital representations of art and collectibles that might prospectively gain value over time. While this is true for the bulk of NFT projects, as the market grows, artists, developers, and collectors are looking for new ways to use NFTs. “Staking” — locking up a collection in a pool and reaping benefits from the staking platform — is an up-and-coming use case for NFTs. Staking non-fungible tokens on a platform or protocol in exchange for staking rewards and other benefits is known as NFT staking. Staking NFTs allows owners to profit from their collection while keeping control of it.