What Is NFT Farming? A Beginner’s Guide


NFT farming merges concepts from DeFi with NFTs to enable holders to earn a yield on NFTs.

Posted May 25, 2023 at 6:37 am EST. Updated May 25, 2023 at 6:37 am EST.

NFT farming is a new concept in Web3 that merges DeFi and NFT technology, allowing NFT holders to earn a yield on their tokens. Read on to learn what NFT farming is, how it works, and where you can farm.

What Is NFT Farming?

Before discussing what NFT farming is, let’s first define what NFTs are and briefly describe yield farming. 

NFTs are digital tokens recorded on a blockchain that represent unique digital or physical assets like digital art, music, or even physical assets like real estate. Yield farming, on the other hand, is the practice of depositing crypto assets in a decentralized liquidity pool to receive rewards paid out in tokens. 

With the boom that the NFT and yield farming experienced independently, it didn’t take long before developers blended the concepts of NFTs and yield farming to create NFT farming (or NFT yield farming) as a way for NFT owners to generate income by…

Read more…