MetaBlox NFT Staking #
The MetaBlox NFT can be staked for ongoing MBLX token rewards – keep reading to find out how.
NFT Staking: What Is It? #
NFT staking is similar to cryptocurrency staking, wherein crypto holders lend liquidity to DEXs in exchange for rewards through interest or the transaction fees paid by the exchange users.
With NFT staking, you’re rewarded for temporarily adding your NFT to a protocol or platform and connecting your electronic wallet. You then receive periodic rewards in the form of tokens in return for depositing the NFT. The size of staking yields depends on how long your NFT is staked, and the value of the staked asset.
Like cryptocurrency staking, with NFT staking the holder typically decides upon their staking period between a few options. Or, like with the MetaBlox NFT, the staking platform allows the holder to withdraw their NFT at any time.
Some staking platforms also let NFT holders lock their assets into a DAO (decentralized autonomous organization) pool, much like crypto holders do with their tokens. In this case, the staking pool is known as an NFT staking pool.
Staking MetaBlox NFTs #
MetaBlox’s first NFT staking pool closed on December 12th, 2022, and holders who deposited their assets earned MBLX token credits for each day of staking. After MetaBlox’s TGE in 2023, these credits will become MBLX tokens available for withdrawal into wallets and use on DeFi exchanges. Keep visiting MetaBlox’s website and social media channels to find out about future NFT staking opportunities.
Learn how to stake your MetaBlox NFT in our staking guide!