Whether we are talking about an NFT or a cryptocurrency, the staking process works similarly. The term staking refers to locking up non-fungible tokens or crypto in exchange for staking rewards and/or other benefits. When staking crypto or NFTs the owner has to sign a smart contract transaction, often moving the staked item to the staking contract and receiving a staking token or tokens in return.
Staking rewards vary and may include earning additional tokens or NFTs. This allows holders to earn something of potential value in exchange for locking their items, all while maintaining ownership.
