If there is one thing we humans have had a lot of, it’s stuff. All kinds of stuff. From clothes to books to gadgets to household items. Within our lifetimes, we own, use, and discard hundreds of thousands of items without a second thought.
A lot of these items, at the time that we dispose of them, still have life in them and can go on to serve other people. This simple fact has given rise to the entire second-hand market with sites like Depop and Vinted.
But even with all these avenues to sell old items, you can only really resell an item once. Usually, the setup is that you list an item once, someone pays for it once, and that is the end.
But what if there was a way you could forever earn money on all the items you list? Well, this is where Myntist, a blockchain-based marketplace, comes in.
On the surface, you might think that Myntist is just another site for listing items for sale. But the platform goes far beyond this.
First, Myntist isn’t limited to just physical items. Yes, you can list your old watch there but you can also list digital assets like tokens and NFTs. After you list these, you can get paid for them in a variety of cryptocurrencies, from the site’s native $MYNT token to USDC, Bitcoin, Ethereum and in fiat.
But here is the big twist; when you list an item and someone buys it, you get paid every time they resell the item to someone else. This is because Myntist runs a commission program that gives a portion of the marketplace commission of every item to all the sellers of the item.
If the old watch you list is resold ten times, for example, you will earn a commission ten times. Essentially, every time the item is sold, you get paid. More than just the fact that you get paid multiple times, Myntist ensures that you get paid multiple times over a long time. By selling items on the platform, you essentially turn them into assets that reap rewards, whether you’re the first or fifth person who is selling that item.
Myntist also ensures that both individuals and businesses make better decisions for the environment. As most of us know, the world is trying to move away from the ‘single-use’ economy and reduce the products that end up in landfills. Myntist is contributing to this by investing in the circular economy. Because the site lets everyone list items they have owned multiple times, the lifespan of these items is extended several times over, preventing them from ending up in landfills. Rather than throwing away old clothes, people can simply list them on Myntist. And as this catches on, companies will meet this need by creating products that are meant to have several wonders throughout their lifetimes, which significantly cuts down on waste.
That watch you list today can continue to earn you money for many years to come and become a passive income source. But that’s not all; there are also ways to maximise your income by staking.
You see, when you get paid for an item on Myntist, you can cash out immediately or ‘stake’ it. Staking, in this case, means you agree to lock your money away for a certain amount of time on the network.
By doing this, you can earn up to 40 times interest on your tokens and make even more money. In so many ways, using Myntist means that you can build a convenient and permanent source of income just by listing things you no longer need.
As these amazing features roll out, the company has also offered the chance for users to buy into its early adoption token. Starting in the first quarter of 2023, Myntist will be selling its early adoption token at a price of $225 USDC. The assets are in limited supply, however, with only 2,222 available.
Passive income is one of the major keys to attaining financial freedom and Myntist aims to make this easier than ever. By creating a royalty-like system for selling older items, Myntist is offering everyday people a chance to not only create a long-term source of income but also maximize them via staking.
While the resell market might have existed for a long time, Myntist looks to use the power of blockchain to take it to the next level.
This post was authored by an external contributor and does not represent Benzinga’s opinions and has not been edited for content. This content contains sponsored advertising content and is for informational purposes only and not intended to be investing advice.