The rise of NFTs has generated good incomes for a number of people in the Crypto Market. However, to acquire wealth from an NFT, the NFT has to be profitable.

The profitability of an NFT depends on these three factors:

1. Popularity

The NFT or its Creator has to be popular or famous and belong to a well-known brand that some people are associated with. This is why the Base Asset from which the NFT is created has to be of great value and command a large followership. 

You can understand why popular soccer players like Lionel Messi made millions from their NFT sales. Messi is a valuable asset in the soccer world with a large followership; hence, creating an NFT from his image will be of great value.

In addition, Messi's NFTs target a specific audience – his soccer fans. Indeed, never forget the importance of having a valuable Base asset and a well-defined market for your NFT production.

2. Scarcity

The NFT has to be rare and limited in quantity. According to the economic law of demand and supply, the scarcer an item is, the higher the price of the item.

Thus, the rarer an NFT, the higher the possibility of its market price being higher, especially if it is an NFT that is also popular with a well-defined use case.

Therefore, have a limited number of copies of any NFT you want to produce. At the beginning of your NFT journey, limit your NFT to just a few copies (possibly tens and hundreds). As you make progress, you may produce NFTs with a few thousand copies.

Remember: DO NOT FLOOD the market with too many copies of your NFT; doing that may be counterproductive in sales.

3. Use Case

Note that any NFT that has a well-defined use case will undoubtedly become profitable.

The present euphoria associated with NFTs may die off as NFTs with more specific use cases appear more and more in the Crypto Market.