New technologies are causing a revolution in the world today and huge amounts are money are changing hands. Many artists and developers are the leaders to potential growth of a modern business online. Among all, Metaverse has become the most popular digital world which is open to almost all, specially the investors who wish to take advantage of the latest opportunity. If you find yourself interested in taking a share in Metaverse and you think that you can make some advantage of it, here we are to help you learn what exactly the Metaverse is and how to make money in this innovation. If you already do not know much about Metaverse, please read a helpful article on Metaverse here.
What is Metaverse?
Simply saying, Metaverse is a technology that combines virtual world, reality and multimedia to give the users the chance to live within a digital world. There are lots of advantages in this virtual world which makes Metaverse so interesting to users; people who use Metaverse can play games, keep in contact with friends through activities such as live concerts and going to a party, travel, and more on. While they are having fun time around in the digital world, they also can enjoy the chance of making money. Interesting, isn’t it? In the following, we list some of the ways to make money in Metaverse.
How to get rich in the Metaverse?
The Metaverse may change the way people spend their leisure time, shop, hang out with friends and even make money. Cryptocurrency is changing the traditional markets which could be hazardous in many ways. However, cryptocurrencies, NFTs and the Metaverse are providing the opportunity to take the big change and be more virtual. Here are the best options for making money in the Metaverse.
1. Play to earn games
The most popular and enjoyable way to make money on the Metaverse is play to Earn Games (P2E). Game players around the world are making fortunes by playing ‘play to earn’ blockchain-based games. Either by playing blockchain-based games or investing in Metaverse activities, users are able to collect and trade in-game assets in return for tokens that could have real world value. Many games are introduced to the Metaverse, games like Axie infinity which is making players a profit of US $ 3000-5000 a month. You could also make money by producing games and invite others to play and enjoy in the Metaverse. So play games in the Metaverse and earn money.
2. Real state
Digital land plots or visual real state is the massive booming in the metaverse. Some virtual land plots such as Decentraland, UpLand and the Sandbox are selling for millions. Therefore, it seems essential to take a number of opportunities for this method of making money:
- Real estate flipping: Purchasing plots of virtual land or digital properties and re-selling them for a higher price, and enjoy the difference.
- Real estate brokering: As the real estate business grows, the need for virtual real estate companies increases significantly. You could make generous commissions from connecting buyers and sellers, or simply giving out advice as a real estate broker.
- Renting: Very similar to real life, buy a plot of land, build a house or another type of property, and then rent it out. Further, use your property for advertising, especially if your properties are located in high traffic areas.
- Real estate management: if you look for even better advantages in Metaverse real estate, become a manager of other user’s properties, including overseeing how virtual venues like concert halls and pieces of land are being best used.
- Real estate designing: The next successful business in the Metaverse could be designing. Whether it’s a private property, a shopping mall or a stadium, the need for specialized 3D designers will soon become one of the most in-demand jobs in virtual worlds.
3. Creating NFTs
The NFT hype is already met at the moment. In 2021, NFTs mostly exploded in the art world, with Beeple’s $69 million NFT auction, the Bored Ape Yacht Club and CryptoPunk’s incredible price run. It is now possible to turn any of digital creations into an NFT in the Metaverse and sell them in open marketplaces. Notice that the Metaverse relies on avatars, mansions, apparel, collectible cards, equipment among other digital items to grow and support open economies. Then it could be a good idea to search for tutorials online on how to create an NFT and take the chance to earn money. But if you are not fond of this consider some other options like simply opening an NFT art gallery and selling someone else’s work in return for a share of the profits, or becoming an art broker, advising Metaverse clients on how to best navigate this newly-minted NFT world and earn more.
Just like the case of the real world, many companies are trying to set their virtual presence and be known in the Metaverse; thus, Metaverse is also a major advertising platform. Brands can purchase land and open stores in virtual malls and advertise their products and services across virtual platforms. As the world of Metaverse grows larger and more users are added to it, it will become a massive marketing and advertising platform.
Fashion also has found its place in the Metaverse as a crucial part. High-profile fashion houses like Louis Vuitton and Gucci have already designed and produced their virtual clothing in the form of NFT collections. NFT brand collaborations are mostly purchased for gaming avatars and celebrities who have parties or live events in the Metaverse. Though, there is no limitations and almost anyone can create a digital clothing line and generate collections in the Metaverse.
6. Travel and Tourism
Travel restrictions due to COVID-19 provided the chance for virtual reality tours to become much more popular. Development teams of the Metaverse even took the chance to offers tours of historical events like the American Civil War using unforgettable VR experiences. Many users enjoy crossing borders without leaving their house and travel through time. Furthermore, the Metaverse seems to bring about even educational trips to far lands or nature for observations and studies so that there will be really less need to travel long distances. This, on the other hand, will give rise to a number of jobs in the Metaverse tourism sector, like tours guides and travel agents.
7. Creating Businesses on Metaverse
The Metaverse also provides the chance to all users to start their own business and try to sell their digital products, ranging from avatars, music, clothing and even entertainment. One of the ideas can be doing concerts and live shows as mentioned above. So, it is the time to start with your own businesses that can be created on the Metaverse to earn a passive income.
A final word
In this text we aimed to provide a practical guide to earn money in Metaverse. All the ways mentioned here could be developed more according to your taste and points of view. Therefore, take the time consider your life experience and find your way into the Metaverse. Be sure to plan best to earn higher.