NFT Affiliate Program: What are they?

PersonOutlineIconUPYO.comCalendarTodayIcon September 4, 2022AccessTimeIcon 14 Mins Read
PersonOutlineIconUPYO.comCalendarTodayIcon September 4, 2022AccessTimeIcon Mins Read
NFT Affiliate Program: What are they? Featured Image

In just a few years, the NFT market has grown exponentially. Non-fungible tokens have enabled people to earn income while providing valuable investment opportunities to crypto investors. A recent report by Chainalysis stated that the number of active NFT buyers and sellers had grown since the second quarter of 2020. As more people embrace and adopt this technology, experts believe the market will continue to boom.

NFTs provide digital creators a unique opportunity to make money through their creations. The NFT space is thriving because the barrier to entry is low while the return on investment is significantly high. Moreover, the increasing number of NFT use cases has afforded users new ways to earn passive income. NFT affiliate program is a micro-trend within the NFT ecosystem that is helping users profit from affiliate marketing. Let’s learn what is an NFT affiliate program and the best programs across all niches.

What is an NFT affiliate program?

NFT affiliate programs are marketing incentives that allow marketers to capitalize on the NFT market. These programs work similarly to affiliate marketing, where businesses and content creators can put referral links on their website or blog and earn a commission every time a user buys the product or clicks the referral link. Essentially, NFT platforms pay affiliates to deliver traffic to their platform through meaningful product recommendations.

Initially, there were only two ways to make money from NFTs- mint and sell NFTs or stake them. In addition, NFT affiliate programs are the newest thing that allows creators to generate revenue. An affiliate can earn a higher commission depending on the number of sales. Currently, only a few NFT marketplaces have affiliate programs; however, the number is sure to increase in the future.

Top 10 NFT affiliate programs

These are the top 10 NFT affiliate programs in the market:

  • Binance:

Binance is one of the largest cryptocurrency exchange platforms in the world today. It provides cryptocurrency trading, listing, fundraising, delisting, and withdrawal services. Founded in 2017, Binance supports over 500 cryptocurrencies, including Ether (ETH), Bitcoin (BTC), Litecoin (LTC), Dogecoin (DOGE), and more. It has a native token called Binance Coin (BNB). One of the many reasons behind Binance’s popularity is that it offers some of the lowest transaction fees for crypto token exchange.

Although it began as a crypto-to-crypto trading platform, Binance Exchange has evolved its ecosystem to include a crypto wallet service, encyclopedia, academy, research wing, charity, and funding. For trading, users must comply with the relevant KYC standards as stated by the exchange. After successfully creating a trading account, users can begin trading by adding cryptocurrency funds to the Binance-provided public wallet address.

The platform supports three types of trading orders: limit, market, and stop-limit. Limit orders are those exchanges that take place at a price the trader sets. Meanwhile, market orders are carried out instantaneously on the current market price. On the other hand, stop-limit orders are executed when the price hits a predetermined price set by the trader.

The Binance Affiliate Program is considered to be one of the best affiliate programs. Those who sign up for the program have the opportunity to get up to 50% of the transaction fees brought in by their referrals. The commission is used paid in Binance’s native token, BNB. Affiliates can earn commission through different transaction types, including Binance Futures, Pool, and Spot. However, depending on the transaction type, the commission fee will change. 

Affiliates can generate special referral links through the program to encourage members of their community to sign up and trade on the Binance platform. It will be instantly noted as your referral if somebody clicks the link and registers. Whether they trade on Binance Spot, Futures, Margin Trading, or Binance Pool, the user will be paid a commission on every transaction they complete.

Commission rate- 20%.

Commission type- One-time, non-recurring.

Payment type- Cryptocurrency.

Cookie period- 90 days.

  • Coinbase:

Coinbase is another top-rated crypto trading and exchange application that enables users to buy, sell and trade different cryptocurrencies. The platform supports over 100 altcoins, including Bitcoin (BTC), Ether (ETH), Solana (SOL), and Litecoin (LTC). With $309 billion in quarterly volume traded and over 98 million verified users, Coinbase is one of the biggest crypto exchanges in the market as well as the first prominent crypto business to go public.

Established in 2012, Coinbase has a higher transaction fee than some of its competitors. However, the platform does offer lower transaction fees on its Coinbase Pro membership. Coinbase oversees a massive 13,000 financial institutions within its extensive cryptocurrency ecosystem. In addition to providing a stand-alone crypto wallet service, Coinbase operates two different trading platforms.

Coinbase offers a high-rewarding NFT affiliate program where affiliates can monetize their websites or blogs to earn commissions. As per the program, affiliates can earn a 50% commission on their referee’s trading fees for the first three months. This implies that users stand to make a significant commission if the people they recommend buy and sell a lot of crypto assets. Coinbase transfers the commission via PayPal or through a bank transfer.

One downside of the Coinbase Affiliate Program is its low acceptance rate. The platform accepts less than 20% of the affiliate application it receives. Moreover, recurring payments are limited to a three-month period. 

Commission rate- 50% of your referees’ trading fees for up to three months.

Commission type- Non-recurring after three months.

Payment type- Cash.

Cookie period- 30 days.

  • Crypto.com:

Crypto.com is one of the most advancing cryptocurrency trading platforms serving 10 million users globally. Founded in 2016, it is one of the fastest-growing crypto apps in the market today. The company has expanded its offering to include a crypto wallet service, Visa cards, NFT products, and more. It supports over 250 altcoins and offers reasonable fees and discounts to holders of Crypto.com Coin (CRO). Moreover, the exchange support staking and swapping in addition to cryptocurrency trading.

The company launched its own NFT marketplace to enable easy NFT trading across numerous categories, including music, sports, art, and games. Crypto.com is best known for its high-level security. It was the first crypto company to obtain the highest security standard comprising the Cryptocurrency Security Standard Level 3.

The staking feature of Crypto.com allows users to earn an interest rate of up to 14.5% if they hold their NFTs for a set period of time. Additionally, Crypto.com has its own token called CRO. It incentives users with cheaper trading fees, greater staking interest rates, and larger credit card benefits if they own a sizable investment in CRO. Crypto.com’s affiliate program gives new users a 10% discount on trading fees for a period of 12 months. It also pays a 10% recurring commission on all transactions by the referees and up to $20 per lead.  

Commission rate- 10%, $10 per existing customer and $20 per new sign up.

Commission type- Recurring and non-recurring.

Payment type- Cash or cryptocurrency.

Cookie period- 30 days.

  • FTX:

FTX, a well-known cryptocurrency derivative exchange platform, was founded in 2018. Derivatives, options, volatility products, and leveraged tokens are just a few of the trading instruments that FTX provides to its customers. Additionally, it offers spot markets for more than 100 cryptocurrency trading pairs, including ETH/USDT, BTC/USDT, FTT/USDT, and XRP/USDT. 

The FTX platform provides a wide variety of order types, from standard market orders to trickier trailing stop orders. As of January 2022, the trading fees for FTX competitive futures and spot markets ranged from 0.04 percent to 0.07 percent. On the other hand, leveraged tokens had daily maintenance fees of 0.03 percent and creation and redemption fees of 0.10 percent.

For the majority of crypto assets, FTX doesn’t charge deposit or withdrawal fees. Any withdrawal of more than 0.01 bitcoin is free. After the initial withdrawal (which is free), there is a 0.1 percent fee for withdrawals of less than 0.01 Bitcoin every day. Eight fiat currency withdrawals worth more than $5,000 and one withdrawal below that amount each week are free.

FTX has multiple sites- while FTX international does not support NFT minting and trading, the US website does. The NFT affiliate program enables affiliates to earn 25% to 40% of a new referral’s trading fees. The commission is paid in the form of cryptocurrency. 

Commission rate- 25% to 40%.

Commission type- Recurring.

Payment type- Cryptocurrency.

Cookie period- Unknown.

  • MintNFTs.co:

MintNFTs.co is a member-based NFT platform that helps creators mint their non-fungible tokens. With notable features like exclusive digital events, NFT live auctions, and fan-generated campaigns inside a dynamic, engaging, and gamified platform, MintNFT offers consumers an unrivaled social experience. Additionally, it has a built-in secondary market where users can trade, buy, and sell NFTs.

The platform offers an NFT affiliate program where users can earn up to 50% per sale. It is one of the high-paying initiatives out there. The program is categorized into three different tiers. An affiliate can earn $500 for referring the $1000 plan, $125 for referring the $250 plan, and $50 for referring the $100 plan. The platform’s 90-day conversion cookie ensures that affiliates get their commission for every new user that signs up within 90 days. 

Commission rate- 50%.

Commission type- Non-recurring.

Payment type- Cash.

Cookie period- 90 days.

  • Nexo:

Nexo is the first crypto-based lending company in the world. With over 300 different options for collateral, including cryptocurrencies like Bitcoin (BTC), Ether (ETH), and Binance Coin (BNB), Nexo offers instant loans in over 45 different fiat currencies. The platform has around 4 million users globally and manages assets worth $12 billion. On Nexo, users can borrow up to one-fifth or 20% of the value of their Bored Ape Yacht Club or CryptoPunks NFTs without having to sell them.

Nexo, which is regarded as the inventor of crypto credit lines, began as a platform for crypto lending in 2018. Nowadays, users can buy, sell, trade, and borrow money using their cryptocurrencies on the Nexo ecosystem. The Nexo Card, the first cryptocurrency-backed card in the world, is the newest addition to the suite.

The Nexo Affiliate Program offers affiliates a 10% commission for each new deposit by a referral user. Additionally, the program provides a two-tier commission structure where the affiliates can receive a 5% commission on the total amount borrowed by the referrals via Nexo’s Instant Crypto Credit Lines.

Commission rates- 10% for a new user, 5% of the borrowed amount.

Commission type- One time.

Payment type- Cryptocurrency.

Cookie length- 30 Days.

  • Fiverr:

Fiverr is a popular freelancing platform connecting businesses with specialists across 300 services. Recently, the application has added NFT as one of its service categories. The freelancing marketplace allows customers to pay in advance for “gigs,” which can be any kind of freelancing work, such as web design, social media marketing, or copywriting. 

All gigs on Fiverr were only $5 per when it first debuted, but today independent contractors can choose to charge more or provide service packages. Orders are typically fulfilled in a day or two, but the seller determines the delivery time, which may take longer if there is a backlog of orders. 80 percent of the order value will be paid to the vendor once the order has been adequately fulfilled. An order that costs $5, for instance, will net the freelancer $4.

Affiliates can take advantage of Fiverr’s high-paying affiliate program, which usually pays a commission of $15 – $150 per sale. However, this commission only applies to new users and not recurring customers. Interested parties can sign up on the platform and sell their NFT-related services in order to enjoy the benefits of the affiliate program.

Commission rates- $15 to $150.

Commission type- Recurring and non-recurring.

Payment type- Cash.

Cookie length- 30 Days.

  • Kraken:

Kraken is a cryptocurrency exchange that facilitates the buying and selling of virtual currencies. It is a San-Fransico-based company launched in 2011, and it’s the oldest Bitcoin exchange in the world. The platform offers low fees, versatile funding options, excellent service, and rigorous security standards. It offers both well-known cryptocurrencies like Ethereum (ETH) and Bitcoin (BTC) as well as less well-known ones like EOS (EOS) and Monero (XMR).

For both big trading organizations and individual bitcoin aficionados, Kraken provides a feature-rich trading platform. It offers a range of account types to meet the demands of different investors and traders, including futures, standard and margin trading, staking, and OTC instruments.

Kraken is one of the top-rated cryptocurrency exchanges thanks to its cutting-edge order system and trading tools, which include a wide range of stop loss and profit-taking order types, leverage and margin-based trading, automated method trading, and a large pool of cryptocurrencies to trade in.

The Kraken Affiliate Program offers affiliates a 20% commission on every sale, or up to $1000 per client referred. The affiliate program has no set time limit. Therefore, the affiliates are compensated as long as the referral remains a client. This distinguishes the program from others that provide more significant commission percentages but only cover the first three months or first year of a client’s involvement.

Commission rates- 20% or upto $1000 per user.

Commission type- Recurring.

Payment type- Cash.

Cookie length- 30 Days.

  • Sorare:

Sorare is a blockchain-based fantasy football game where players can buy and sell their football trading cards. With the recent investment of $680 million in funding in 2021, Sorare has reached an evaluation of $4.3 billion. 

The trading cards on the game are NFTs that users can exchange for other NFTs or money. Since the number of cards available for each football player is limited, the cards of sought-after players are highly valuable. 

Soccer players have the following number of cards created at each level for each season:

  • Limited: Up to 1000 cards are printed for each player per season.
  • Rare: Up to 100 cards are issued for each player each season.
  • Super Rare: just ten cards are produced for each player each season.
  • Unique: One card is printed for each player each season.

Sorare’s affiliate program provides users the opportunity to earn a 10% commission for every card purchase. The payout is available in cryptocurrency and fiat money.

Commission rates- 10%.

Commission type- Non-recurring.

Payment type- Cryptocurrency or cash.

Cookie length- 30 Days.

  • Udemy:

Udemy is an open online course website where anyone is free to design and market study courses that are similar to traditional post-secondary education. Users can enroll in these courses to receive technical certification credit or simply to learn job-related skills. At present, Udemy offers over 196,000 courses to over 52 million students worldwide. Tuition fees to enroll in courses vary depending on the instructor who prepared the course.

The cost of courses on the platform can range between $20 to $200. Udemy’s popularity stems from the fact that learners can schedule courses and access study materials at their own convenience. Instructors can upload PowerPoint presentations, full-length videos, ZIP files, PDFs, audio, and live classes to create courses.

Udemy’s affiliate program offers a competitive 20% commission for every existing and new user. Affiliates are paid for every customer sale they make through their referrals. The commission is paid after a sale completes the 30-day refund stage via direct deposit, Paypal, or check.  

Commission rates- 20%.

Commission type- Recurring.

Payment type- Cash.

Cookie length- 7 Days.

Conclusion

The aim of NFT affiliate programs is to enable NFT enthusiasts and entrepreneurs to make money from their recommendations. While you wait to sell your NFTs, you can participate in these programs to generate passive income. Most verified marketplaces and crypto exchanges have some form of affiliate program that is worth exploring. Do your research, monitor the market trends, and select an affiliate initiative that best fits your needs. 

FAQs

  • Are NFT affiliate programs genuine?

Yes, NFT affiliate programs are genuine. They offer creators and businesses a legitimate opportunity to earn revenue by directing traffic to the company’s website. The commission rates and service terms will vary depending on which platform you choose. However, you’re assured of receiving the stated amount if you fill your contract obligations. In most cases, brands and individuals must apply for the affiliate program and wait for a response. Once their application is approved, the parties are provided with a referral code that can be used on their websites or blogs and marketed to their audience.

  • How much can I earn through the NFT affiliate program?

Through an NFT affiliate program, you can earn anywhere between $10 to $1000 per new referral, depending on the NFT platform you use. It’s best to check the finer details of the affiliate program to know the exact commission structure. Most platforms offer their affiliate 10% to 50% recurring or non-recurring commissions. Moreover, some hand out payments in cryptocurrencies, fiat money, or both.

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