I’m Projecting Almost $10K in Annual Income From My New Crypto Venture

This might be addiction. 

Less than three weeks ago, I dipped my toe into the waters of NFT lending, and now I’m like a SeaWorld dolphin performing tricks and swimming around the tank like I own it.  

In the world of crypto’s bleeding-edge technology, NFT lending is the cutting edge of that bleeding edge. It marries the age-old business of pawnshop lending with the uber-modern age of blockchain technology.  

The premise is simple: NFT owners get the opportunity to raise temporary cash by borrowing against their non-fungible tokens, the one-of-a-kind crypto assets representing everything from digital art to digital ownership of a company.  

On the other side of that equation, people with spare crypto get the chance to serve as a lender.  

The borrower gains quick access to cash by putting up their NFT as collateral, and the lender gains access to nice rates of return on their idle cryptocurrency.  

It’s exactly like a pawnshop…on the blockchain.  

And effectively that makes me a pawnshop owner. 

There are a limited number of NFT lending sites at the moment, though I know a few more are in development.  

I’m using one called Yawww.io, a simple, intuitive site that has emerged as the biggest and most popular on the blockchain.  

I fell into this addiction on June 29 with a single loan. Since then, I’ve made nine loans and I’m looking at a 10th and 11th. 

Like I said, this is addicting.  

More importantly, it’s profitable.  

And even more importantly, I can mitigate a lot of my risk by cherry-picking the best loans. 

I started my pawnshop hustle with about 477.55 Solana, the cryptocurrency I’m using to fund loans on the Solana network.  

Based on the parameters of the nine loans I’ve made, I will earn 34.17 Solana by Aug. 16. Meaning that in 48 days I will have earned a return of roughly 7.2%.  

Rinse and repeat over the course of a year and that’s an annualized return approaching 60%, or more than 258 Solana. With Solana at $37 right now, that’s around $9,600 in income. 

Now to be frank, I don’t particularly care about the dollar value. I care about accumulating as much Solana as I can at a moment when the whole of crypto drifts through a bear-market funk.  

See, prior to the bear awakening, Solana’s all-time high was up at about $260 per token.  

I fully expect Solana will see and then exceed that price in the next bull market.  

As such, every extra Solana I can earn today is a 7x to 10x just waiting on its next moment in the sun. Every 34 Solana I collect is potentially $8,800 to $12,500 in basically free money that lands in my crypto wallet as either interest payments or proceeds from selling NFTs that default. (I’ve already had one of those, and I earned in sale proceeds 3x what I would have earned in interest.) 

This is an engaging new approach to Solana accumulation.  

I am only making loans against the very best NFT projects on the blockchain. These are projects that I know have ongoing, long-term value because of their place in the hierarchy of Solana NFTs.  

Basically, they’re NFTs I would gladly own for the long haul in my personal portfolio. As such I expect two possibilities: I will either be repaid because the NFT owner doesn’t want to lose a high-value, blue-chip NFT, or I will collect that same high-dollar NFT at a discounted price (the loan value) that I can quickly sell for a profit even larger than the interest rate I would have earned.  

I see it is a get rich slowly win/win…because I win either way. 

The only real risk is that Solana falls in value in dollar terms, but I’ve already noted I don’t particularly care about Solana’s bear market value because I see the current price (or even lower values) as an opportunity.  

The other primary risk is that the value of the NFT sinks in Solana terms. Could happen. But that’s why I focus exclusively on a core collection of high-quality projects. Doing so means I mitigate my risk because these are projects that are going to hold their value far better than most. 

Every market has its unique opportunities. In this current crypto bear market, one of those opportunities is to gather in Solana by serving as a pawnshop owner.