The Metaverse was around us for a long time but in 2021 the revolution began. The so-called hype over the internet is overwhelming and every tech giant to common users are rushing to take a piece of this “virtual gold” and seizing the infinite opportunities that come with the metaverse. From buying or selling lands to creating digital art or taking a virtual conference, there are several ways for generating and exchanging real-world value as an experience in the metaverse. And it’s not as hard as you think. So, here are the 11 best ways to make money from the metaverse.
1. Create NFTs and sell them
The NFT craze is non-stop at this moment. In 2021, they’ve mostly exploded in the art world, with headline-grabbing news like Beeple’s $69 million NFT auction or the Bored Ape Yacht Club and CryptoPunk’s incredible price run. With the blessing of this technology, you’ll be able to turn any creations of yours into an NFT (Non-fungible token) and sell them in an open marketplace. There are plenty of tutorials available on youtube about how to create NFT.
The metaverse depends upon the Avatars, design, art, fashion created by its users and they are given digital copy-right to it to support and grow the economy of the metaverse. But those who are not interested in art generation, they can host an art gallery in the metaverse sell someone else’s art and get a cut of the profit. They can also be art brokers as well and influence others to navigate through this NFT world.
2. Earn from virtual real estate
Virtual real estate has seen a massive boom lately, with the rush for digital land seeing plots in metaverses like Decentraland, Axie Infinity and The Sandbox selling for millions. Clearly, there are a number of opportunities ready for the taking:
Real estate flipping: You can purchase a plot on the websites mentioned above and sell them in for a higher price. Hence, the difference is your profit.
Real estate brokering: With the growth of the estate business currently, the need for virtual real estate companies has only become greater. You could make generous commissions from connecting buyers and sellers, or simply giving out advice as a real estate broker.
Renting: Just like real-world you can by a property in the metaverse and rent it for virtual concerts, digital art and all. You could also use it for advertising if your property is located in a high-traffic area.
Real estate management: Another great way of monetizing your expertise in metaverse real estate is to become a manager of other users’ properties, including overseeing how virtual venues like concert halls and pieces of land are being best used.
Real estate designing: Conceptualizing and bringing to live plots of land and metaverse buildings can be a very lucrative business. Whether it’s 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. Advertise in the virtual properties
Many companies are running into metaverse to make their presence, but the platform can be used for advertisement also. Similar to the real-life world users can also use this platform to run virtual ads, selling online services, products across the world. As the users mostly join through the metaverse, in the coming future, advertisement is only going to boom along with the other businesses.
4. Earn from Digital Fashion Market
One of the first uses of the metaverse has been fashion. High-profile fashion houses like Louis Vuitton and Gucci are already experimenting with virtual clothing in the form of NFT collections. Recently, Nike has also taken patent for digital fashion as their hint of entering the metaverse fashion market.
Gaming has also been another successful avenue for brand collaborations with initiatives like Burberry x Blankos Block Party and Valentino x Animal Crossing. But just about anyone can create a digital clothing line and generate revenue in the metaverse. Even if you’re not a fashion designer, you might enjoy coming up with different creations for your own avatars and help your friends customize theirs.
5. Earn from metaverse schooling system
We all know that the pandemic is forcing schools to shut down and the education system is one of the worst-hit victims. With millions of students having shifted online classes, so many online teaching businesses have boomed in this pandemic. With this opportunity, metaverse can be used as space for conducting online classes.
Virtual schooling has become evident as the business is growing. With the evolution in the metaverse economy, online schooling can become a highly interactive, immersive space for students from all over the world.
6. Create a business in the metaverse to earn money
The metaverse is the perfect breeding ground for entrepreneurs. Users can open stores and kick start their businesses more easily than in the real world. Be that in fashion, sports collectables, real estate or entertainment, there are an infinite number of businesses that can help you earn money in the digital world.
7. Earn money from metaverse Gaming
Gaming is now currently the main activity happening in metaverse now. The number of users is increasing in games platforms like Roblox, Fortnite and Axie infinity. Here people can log in and interact, build, win collectables in form of digital tokens. Those tokens can be traded on real-world NFT exchange platforms. These games generally run on the P2E model. You can also build games for metaverse and make money from it.
8. Metaverse Tourism to generate revenue
In the world of lockdown due to COVID-19 the tourism business also took a big hit. People are confined and stuck in homes and they need to get out this boredom. Metaverse could be a solution for that as historical places, monuments and sculptures can be built in this virtual world. This will also bring lots of job opportunities as tourist guide and travel agents.
9. Money from Event promotions
Entertainment will play a vital role in metaverses like Sensorium Galaxy, which will be hosting concerts by superstars like David Guetta and Armin van Buuren. Parties, concerts and sporting events are sure to attract thousands (if not millions) of fans, and so promoters and hosts will as much needed as they are in the real world to make sure that virtual worlds have mind-blowing events.
10. Make Money by testing metaverse products
As more products will start appearing in the metaverse, it will lead to the need of users who can test them and provide feedback. With such a vast array of industries and businesses that are set to step into the virtual universe, the possibilities to experiment with digital assets are limitless.
11. Virtual Labour for original money
In order to build a metaverse and to keep it running, virtual workers will be in high demand. No matter the sphere, you’ll be able to offer up your services, either for corporations like Meta or Microsoft or as a freelancer. 3D artists, virtual reality architects, community managers, developers, coders, graphic and fashion designers, recruiters and metaverse content creators are just some of the jobs you’re likely to see most in need.
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