The Metaverse economy is established upon the trade and purchase of digital goods, which range from NFTs to clothing and even digital pets.
Looking at the size of the huge corporate support standing behind NFTs, there are good odds of the metaverse economy taking off to places as these corporate people will invest in the sale of digital goods, advertisement, and real estate in the Metaverse, hosting shops, and entertainment places, etc.
With this new economy being constructed, many opportunities will come up for grabs to make money, create a virtual empire, and generate and trade value for real-world comforts due to the experience gained in the Metaverse.
13 Ways of Making Money in the Metaverse
Here are 13 ways you could make money off of the Metaverse:
1. Creating Tutorials
Youtube has never lacked in tutorials, from the most basic to extremely complicated stuff.
You can create tutorials for people who are new to the Metaverse. Offering up information and instructions to people on how to go through the Metaverse, even giving tips on ways of making money there.
All that is needed is a good voice and personality, and of course, the most important, reliable information.
You can easily earn $3 to $5 per 1000 views easily.
2. Playing Online Games
Play-to-earn games have been around for quite some time and it’s no different in the Metaverse world. However, every game is unalike and you can’t expect the same type of work or game-play.
There are entire companies that are committed to play-to-earn like Admix, which put up $25 million to drive in-game money-making in the Metaverse or others such as Bloktopia will dish out entire divisions dedicated to this type of gaming.
You can easily make an earning while playing games of an average of $200 to $1000. For gamers and people who like to play that’s not too shabby. Although, gaming to earn money does not always allow you to earn a full living so you’re better off using this as a sort of side work.
3. Designing Accessories
If a game in the Metaverse lets you make 3D or customizable items from it that can be employed within the Metaverse, then you can work with a sole person or a party of people to turn their visions real.
Using a 3D printer to make money is not new, but this one is a fairly new way of it. You can make an earning an average of $5000 per month.
Keep in mind, however, that this type of work will most probably be the project-to-project kind.
4. Creating VR Games
Much like designing 3D accessories, you could even create and bring out games in VR. And it does not really call for any special technical skills whatsoever.
All you need to have are basic narration skills and throw them into VR design platforms such as Mozilla A-Frame, daydream, etc, to make money.
5. Buying Land
Landowners are considered plenty wealthy in the real world, so why not the Metaverse World.
The purchase of virtual real estate is another ingenious way of making money in the Metaverse. Any user can buy a parcel of land set at a fixed price and later hike up the price, making a hefty profit.
Corporates such as PwC and JP Morgan have already paved the way for this route.
6. Renting and Leasing
Not into selling your land, you could always lease it out to others for a price to make money.
Rent out parcels of your land in the metaverse to developers, who will construct buildings, gaming arenas, and other entertainment venues there. This will give you an income coming out to you every month at a steady rate. However, prime virtual real estate will be pricey.
You could also construct buildings, concert venues, and other entertainment venues on your own through VR design and development skills. This will require work and might even be expensive due to sourcing resources but the profits coming after it is all done will be well worth it.
7. Brand Ambassador
Brand ambassadors are nothing new and being one is a very sought-after way to make money. However, when dealing with the Metaverse, you can take it a step ahead.
Being a digital brand ambassador, you’d have to talk with people, create contacts and establish links, and give the masses a real connection. It wouldn’t interfere much with your day-to-day life, but you would have to work a set number of hours to advertise the brand you are representing.
Some brands might ask you to use the accounts already affiliated with them, while some might ask you to use your own.
You can make an average of $4000 to $4500 each month just from being a brand ambassador.
8. Freelancing in the Metaverse
There is a hole of service job requirements that need to be filled by workers with a skill set unique to the work, in the Metaverse economy.
Such as, VR concerts will require staff for security, a VR museum or art gallery might want a guide to help visitors, VR hotels would require a concierge staff and so much more.
Non-Fungible Tokens or NFTs have been the talk of the town for a majority part of the year. While the news might make it seem daunting, you don’t need to have thousands of dollars to get into NFTs, but a digital wallet and a way to convert the digital currency to real money are certainly required.
You can trade NFTs or invest in them. They have seen a 704% rise in 2021 with the market now at $10.67 billion USD. The correct investment could take you from rags to riches. However, the value goes up and down depending on the Crypto-market, so this involves great risk.
NFTs are a great investment no doubt, but if you’re not one to take risks and are skilled at art, you can always make some dough creating NFT art.
Investors are drawn to NFT art like flies to honey.
A small amount is required to post the art for sale, but if you have potential the networks are willing to overlook that small fee.
You can make an average of $1000 to an eye-opening $40,000 alone just from making NFT art and if you do decide to take the risk and jump into an investment, then there’s no saying. The higher the risk, the higher the reward.
10. Conduct Events in the Metaverse
A quite approved way to earn money is to conduct events like concerts, in the Metaverse. Concerts bring in huge crowds, and as the organizer, you can charge a fee for entrance, making a profit.
The popular and well-loved rapper, Snoop Dog, paired with TIDAL Music to perform a virtual reality concert.
And even if you can’t attract a crowd to pay the entry fee, there are major sponsorship opportunities up for grabs. For example, you could organize a show with a free to enter the pass for the masses, in exchange for event sponsors would pay for their advertisement.
11. Online KTV
KTV speaks of a type of e-music video for entertainment, where customers can engage in a mini-structure to listen and look at other customers sing and perform on stage through a holodeck technology in a virtual room, much like karaoke.
Stations like these such as High Fidelity have already been established and are operational as well as quite popular to boot.
12. Metaverse Stock Market
Even though the Metaverse platform hasn’t been released yet, the Metaverse stocks are a popular topic amongst the crowds.
When dealing in stocks you need to be aware of any and every information regarding and especially when dealing in the metaverse stocks you’ll need to pay attention to the stocks and metaverse as well as the NFTs and the other types of digital currencies.
You could also invest in the Metaverse stock market.
A warning: if you are new to stocks be very aware and attentive. It’s a risk and a gamble.
13. Stream Content
Much like twitch streamers, you can make an income as a streamer living out your life in the Metaverse.
People were quite surprised to find out the income twitch streamers made from streaming gaming content.
Even though many people will want to experience the Metaverse themselves, there are many who would rather watch you live out your life in the metaverse.
You enjoy your life and as a bonus, you can make an average of $3000 to $5000 per month off of it.
If you decide to become a streamer, do invest in a good microphone setup and if possible a face cam so that viewers can look at your expressions.
The Metaverse is quite new and it will take you some time to explore and learn about it. There are a plethora of opportunities waiting for the right people to come along, and you could easily make a good amount of money in the Metaverse.
With the right investment, skill, and efforts, you can make money in the Metaverse. The sky’s the limit.