Whitepaper v2
  • πŸ”–Summary
  • Table of contents
  • πŸ“˜Story Arc
  • πŸŒ…Vision
  • πŸ“ƒGlossary
    • ℹ️NFT Staking and Farming
    • ℹ️Smart Contracts
    • ℹ️Utility Token
  • ⚑Overview
    • πŸ—žοΈAlphas and Coding Corner
    • 🀝Official Collaboration NFTs
    • ⚑Team
    • πŸ’­Comic Books
      • ♦️#1 First Contact
    • πŸ‘¨β€πŸ’»Lazy dApps and Solutions
      • πŸ”₯Burn to Earn Hash Horses
      • πŸ€–HTS Bot
      • 🚜Lazy Farms
      • πŸ”¨Lazy Super Minter
      • πŸ—οΈRevoke Allowances
      • πŸ“ƒSet of Hedera Scripts
      • πŸ”Swap Legacy NFTs
      • πŸ”’Staking
        • Boosts and multiplier
      • Lazy Trade
    • πŸͺ™Lazy Token
      • πŸ”₯Burn mechanisms
    • πŸ”—Official Links
      • Lazy Colorbook
      • Secondary Market
    • πŸ–‡οΈRelated Collections
      • Hash Horses
      • Jester Art Serie
      • Lazy Super Dogs
      • Meerkats Gang
      • The Mobsters
    • πŸ–ΌοΈThe Collection
      • Mutants
      • Gen 1
        • Vote
      • Gen 2
        • Gen 2.5 (Art Upgrade)
  • 🦸Characters
    • 1️⃣Gen 1
      • Aadan
      • Businge Aala
      • Cossack
      • Crawford
      • Dimitri PetroviΔ‡
      • Ginnie Delice
      • Gordo
      • Jake, John, Paul
      • James Fernand
      • Jay
      • Jazz
      • JΓ©rΓ΄me Lavand
      • Jovan Sig
      • Kanna Setsuko
      • Kjell
      • Korgg
      • Lapse
      • Mark Meller
      • No Lo Ma
      • Nobody
      • Poro B.
      • Rala
      • Robert Fisherman
      • RXS-001
      • T0X1C 2055
      • Table of Contents
      • Tim
      • Timoteo
      • Tina Ingvild
      • Virginia Lor
      • XF00i2/s | XT005S
      • Z
    • 2️⃣Gen 2
      • BjΓΈrn
      • Blood
      • E-Xterm
      • Gabriel 'The Cobrastra'
      • Joey Β΄Jester’ Fare
      • Kematian
      • Magnus
      • Mala
      • Soul
      • Table of Contents
      • Wired
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  1. Glossary

NFT Staking and Farming

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Last updated 3 years ago

NFT staking refers to the action to deposit NFTs on a platform to receive rewards and other privileges when conditions are met.

This allows NFT holders to earn a platform's native utility token or new NFT for example while they maintain ownership of their NFTs.

By locking up NFTs on the platform, users can receive rewards depending on the NFT deposited, the lockup period, the number of NFTs staked etc.

By locking up NFTs for an extended period of time, this rarifies supply and helps drive demand.

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ℹ️
πŸ”’Staking
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