Slated to be the next big thing in the crypto world, the revolutionary platform YieldNodes has had its fair share of controversy. When I did my comprehensive YieldNodes review, I used the platform personally to determine its credibility.
While the platform is not free of risks like cryptocurrency-related entities, my experience showed that it is a legitimate way of profiting and earning passive income in the growing blockchain economy. Wrongfully maligned by some as a scam, YieldNodes is paving the way for more innovation in the industry.
As YieldNodes continues to fend off baseless claims from certain rating agencies, the creators behind the platform continue to impress with more developments.
With the lack of transparency becoming a legitimate issue for the cryptocurrency space, YieldNodes has launched a solution to put everyone’s mind at ease: Introducing the YieldNodes NFT.
To get the best out of anything, knowing what you are getting into is important.
I know you are excited to participate in YieldNodes and claim your YieldNodes NFT. Before doing that, you must know how to make a well-informed decision. This blog will tell you the most important facts about YieldNodes NFT to help you out.
A Non-Fungible Token (NFT) is a type of digital asset representing something unique. If you have an NFT, you effectively own a digital certificate verifying your ownership of a specific asset or content. With cryptocurrencies like Bitcoin or Ethereum, you can replicate the digital asset. On the other hand, NFTs are one-of-a-kind. Buying an NFT means you will be the only person to own that specific digital asset.
Regulatory and legal concerns constantly plague the industry. Due to the need for more peace of mind for its customers, YieldNodes has launched what it considers a viable solution.
Each YieldNodes NFT is a non-fungible token issued by YieldNodes to its customers. Anyone with an account on the platform can claim its value through a unique YieldNodes NFT. The platform’s users can utilize their YieldNodes NFTs for transactions.
Designed for “YieldNoders” to trade on accessible marketplaces, you can also trade and transfer your YieldNodes NFT to other users privately. Not limited to a single platform, the project’s team is constantly working to make it available across several other marketplaces. As the team establishes new collaborations and partnerships, YieldNodes is widening the range of possibilities YieldNoders can engage with using the NFT.
Created using heavily audited and highly common smart contracts, it is the real deal. You can find the terms and conditions of the YieldNodes NFT here.
The YieldNodes NFT is part of a developing and dynamic space. The NFT launched and was indexed successfully on major marketplaces like OpenSea, Unick, Magic Eden, OKX Exchange, and more. As of this writing, the unscrupulous efforts of a few campaigning against it have resulted in OpenSea taking the NFT off its platform.
That said, YieldNodes is in dialogue with OpenSea to make YieldNodes NFTs tradable on their marketplace again. Additionally, YieldNodes is exploring other NFT marketplaces to evaluate more opportunities.
As with other NFTs, the market value of YieldNodes NFTs is dynamic. At the time of writing, 42 YieldNodes NFT were sold in the last seven days. With a total sales volume of $137,010/-, the average YieldNodes NFT price was $3,300.
Currently, there are 8,282 people with YieldNodes accounts. While only a few have claimed the NFTs associated with their accounts, there is a total supply of 48,602 tokens. Launched on July 6, 2023, it is one of the newest NFTs in the market. The most expensive YieldNodes NFT sold so far was on July 19, 2023, for $8,400.
If you are a YieldNodes account holder, you do not need to buy one of these NFTs. Each YieldNodes NFT is associated with a corresponding YieldNodes account, reflecting its value. If you have a valid YieldNodes account, you can simply claim the NFT associated with your account.
YieldNodes has set a deadline for YieldNoders to claim their NFTs by 24:00 UTC+2 on October 1, 2023. YieldNoders who fail to claim their NFTs by the deadline may face issues. Once the deadline passes, all unclaimed tokens on the platform will be subject to “burn,” eliminating the account owners’ ability to self-host or transfer their certificates.
On the other hand, by retaining their rights by claiming their NFTs, YieldNoders will have an advantage in future opportunities. If you have a crypto wallet compatible with the platform, you can use it to claim your YieldNodes NFT.
Here is a video explaining how to claim your YieldNodes NFT using a secure Ledger Cold Wallet. While you can use hot wallets to claim the NFT as well, using a secure cold wallet like Ledger is one of the safest ways to store digital assets.
You can trade and buy NFTs, especially those distributed for YieldNoders, on all major marketplaces. Once you have a Polygon wallet, you can search for the NFTs on any marketplace. If there are any, the YieldNoders who have listed their NFTs will offer it to you there.
Suppose you are not a YieldNoder but want to buy a YieldNodes NFT. In that case, you must look for tokens listed by existing owners for sale. MagicEden is one of the most popular marketplaces where you can trade YieldNodes NFTs. To learn how to buy one on MagicEden with Ledger or Metamask, you can follow this tutorial on how to buy a YieldNodes NFT.
Alternatively, you can buy one in a private transaction with an account holder who has claimed their YieldNodes NFT. Once you purchase the NFT or claim your personal YieldNodes NFT, you can expect a maximum waiting time of 72 hours before it is delivered to your assigned address.
If you are a YieldNoder who has claimed their NFT but wants to sell it, you can trade it on any of the major NFT marketplaces, including MagicEden. If you want to sell your YieldNodes NFT in the marketplace, here is an explainer on how to list your YieldNodes NFT for sale on MagicEden.
Founded in 2019 by Urs Schwinger and Steve Hoermann, YieldNodes is the first platform to introduce the possibility of passive income through crypto with high monthly yields.
Granted, the label of being a scam has increased the work YieldNodes has to do to achieve its mission of improving the blockchain economy. Still, YieldNodes remains firm in its stance as a legitimate entity in this space.
With a new CoinDesk report revealing how the investigations lead behind the agency claiming YieldNodes is a scam is less-than-qualified, it is only a matter of time before things improve.
Instead of taking someone else’s word for it, I audited YieldNodes myself. If you are on the fence about it, you can check out my detailed YieldNodes report and audit to make a well-informed decision. To become a part of it yourself, visit YieldNodes to reap the benefits it has to offer.