How To Become Rich in Metaverse: A Full List of Opportunities
Metaverse has become one of the most popular terms in the 21st century. No wonder this digital frontier attracts a lot of attention from investors and ordinary people who want to benefit from it. Sounds interesting? Let’s take a look at this article, where we list some of the ways to become rich in the Metaverse.
Table of Contents
Participate in Play to Earn Games
In the gaming metaverse participation in play-to-earn games is the most popular way to make money in the virtual world. It’s a business model that works on blockchain technology. In other words, these types of games allow players to earn digital cash by simply playing various games.
Players can also earn NFTs (Non-fungible token) as rewards for their activities.
These digital assets have real-world value as after earning rewards, players can sell them off or transfer them to any wallet in a marketplace. These assets are stored on the blockchain, so don’t worry about their security. There are a lot of games like Axie Infinity that are making players a profit of $ 3000-5000 a month.
In order to participate in these games, a user must enter the metaverse, have a crypto wallet where they will store their earnings and NFTs. Moreover, the wallet should match what the game is based on. For example, Decentraland requires Ethereum-based wallets.
You can also make money by producing games and inviting other users to play in Metaverse.
Create and Monetize VR Games
In the Metaverse, it is possible to create and monetize VR games as it does not require special technical skills. Alternatively, you can buy a game that someone has created.
For example, game players can create their own games in the Sandbox metaverse, which contains a “Game maker.” It doesn’t require coding knowledge.
The game creators have the option of charging other people a fee to play their games.
In order to monetize the game in Sandbox, you need to own or rent some land where you can deploy it.
Native Cryptocurrency
Native cryptocurrency is a blockchain’s inherent digital currency, which can be used in the form of tokens. These tokens operate similarly to typical in-game currencies like Bitcoin. The only difference between them is that tokens have real-world value.
For example, the most popular blockchain game Axie Infinity has two native cryptocurrencies – AXS and SLP. Players can exchange or sell items through the game’s NFT marketplace whenever they want and receive tokens from the game.
Existing Cryptocurrencies
Many developers prefer to rely on existing cryptocurrencies like Bitcoin, Ethereum, and Tether. Thus, a lot of games use these popular cryptocurrencies in order to incorporate them into their names, like Bitcoin Tycoon and Bitcoin Pop.
Games that have the word crypto in their titles, such as CryptoKitties, and Crypto Dragons, tend to use the existing cryptocurrencies as well. Thus, game players receive rewards in the form of established cryptocurrencies, even though it can take a while to accumulate a significant amount.
Here is a list of some of the most popular Play to Earn Games in Metaverse.
Sandbox
Decentraland
Alien Worlds
Axie Infinity
Splinterlands
Farmers World
My Neighbour Alice
Real Estate
Another approach to becoming rich in metaverse is to buy real estate. Simply saying this means spending money on pixels. It sounds crazy, but it’s true. The idea behind investing in the metaverse land is that once you own it, you can make money by developing virtual property and leasing it out.
A new real estate market has been created by the development of the metaverses. Now, those who have money and courage can purchase digital lots and buildings, from concert venues and malls to houses and monuments. Instead of buying real estate in London, Paris, or New York, investors are paying millions of dollars to purchase land in the virtual world.
Investors are convinced that individuals will spend money on virtual developments like retail space, and as more people join these online worlds, the properties will increase in value.
Before buying virtual real estate, you will need to research the metaverse project, consider plot locations and then sign up in a metaverse platform like The Sandbox, Axie Infinity, and Decentraland, which are selling for millions. In 2021 you could buy the smallest piece of land in these metaverses for under $1000. Right now, the smallest, cheapest piece of land that you can buy in Decentraland costs 3750 Mana. 1 MANA = $3.32. Thus, it’s important to take the opportunities to make money with the virtual estate.
Dealer
A dealer is one who buys and sells real estate in the Metaverse. There are two main metaverses, such as The Sandbox and Decentraland, that allow users to purchase land plots with tokens. So if you want to make a lot of money and avoid high office costs, you can become a real estate dealer
Flipping
One of the easiest ways to make a profit in the Metaverse is to buy land or digital properties in the virtual world like The Sandbox and re-sell them for a higher price.
Renting
It’s like in real life. You buy a plot of land and then rent it out to game developers, designers, or creators so they can operate their business without actually buying real estate. Thus, you can earn a monthly rent on your property. It will be like a passive income.
Brokering
As a Metaverse land broker, you can help people buy or sell their metaverse plots and earn commissions from successful deals. You can also advise your clients on how to manage their metaverse properties.
To become a broker, you should have a good knowledge of the Metaverse, NFTs, and virtual properties in order to be able to fulfill your client’s needs.
Managing
In the Metaverse, you can become a manager of other users’ properties. For example, your role will be to think about methods of utilizing virtual venues like lands or concert halls.
Advertisements
Another common way to make money in the Metaverse is advertising. Many companies and brands are willing to increase their presence in the virtual world as Metaverse is a huge advertising platform. Thus, people could pay you to put up billboards, posters, or whatever they want to advertise their products, services, and even real-world businesses. For example, Coca-Colas virtual billboards in video games such as Football Manager.
However, these ads could be for products and services that exist only in the real world, exist only in the Metaverse, or exist in both worlds. Famous brands like Gucci and Louis Vuitton have had exhibitions in the digital world, selling some of their collections at higher prices than their physical goods.
Building a commercial venue
Managing or developing your commercial venues such as virtual hotels, casinos, malls, and other properties is a great opportunity to sell smaller units to businesses.
Real estate designing
Real estate designing means creating, designing, or conceptualizing 3D worlds on plots of digital land. Soon it will become one of the most in-demand jobs in the virtual world.
Fashion
Did you know that you can make money via fashion? The idea of spending money on virtual clothing may confuse some people. But it is a real avenue to make big money.
Now the question is would you pay millions for clothes that you can never wear?
In fact, the digital world has already given various brands and designers the opportunity to benefit from selling virtual versions of their products. Nike just patented digital goods, and they will sell virtual Air Jordans at some point in the future.
In real life, the costs for designing a collection and the materials needed for production are huge. But in the Metaverse, a designer can easily make their designs digitally, and if the demand is high, they can change the design without incurring huge costs.
Fashion houses like Gucci and Louis Vuitton have produced virtual clothing in the form of NFT collections. Other brands such as Ralph Lauren have opened virtual pop-ups on Roblox and Zepeto. However, it refers not only to renowned brands. You can create your own clothing line and make money by selling them.
Creating Clothes for the Avatars
Clothing for the avatars, called “wearables” in Decentraland, is recorded as NFTs on the XANA blockchain. They can be bought and sold in order to earn revenue.
Mark Zuckerberg says that avatars will be as common as profile pictures today, which are going to be living 3D representations of you with your expressions and gestures.
Moreover, these avatars will provide you with your own wardrobe for your virtual clothes for various occasions designed by different creators and for different experiences. In the Metaverse, users have the opportunity to carry items like clothing, accessories, or anything else from one platform to another.
“Even if you are not a fashion designer, you can also help users customize their avatar’s clothing. Setting Royalties”
Brands can earn revenue whenever they trade in the Metaverse as they set royalties on their wearable NFTs. Moreover, whenever a trade takes place, the original artists receive a royalty fee, which they can set when they upload their digital clothing line into Metaverse.
Conduct Metaverse Events
This is another popular way of becoming rich in Metaverse. Entertainment plays a vital role in the digital world. Thus, musicals, live concerts, and gigs can attract thousands of people who want to get a sense of being present in the venue for real. Conducting Metaverse events can also provide an increase in ticket sales.
Another way is to charge for shows, festivals, and concerts on your property in case you construct a suitable venue like a bar, stage, or conference center. Concerts are already being organized in the Metaverse. In order to create these concerts, an entire world has to be built on the digital platform.
The Metaverse platform Sandbox has already collaborated with Warner Music to create a concert hall. Sensorium Galaxy hosted concerts by celebrities like David Guetta and Armin van Buuren. Fortnite has managed to host Ariana Grande and Travis Scott, entertaining players and selling in-game merchandise to make a profit.
Create, Sell or Buy NFTs
Recently, the most interesting trend is the incredible surge in the growth of digital art. The popularity of different NFTs is growing rapidly not only among collectors but among investors and traders as well. A Non-Fungible Token is a digital asset in the blockchain network.
There are platforms in the NFT marketplaces where they can be sold, bought, or even exchanged, mostly using cryptocurrency. NFTs in Metaverse can be avatars, clothes for avatars, pets, items or weapons for games, mansions, buildings, or plots of land.
One common way to make money is to buy a cheap NFT and sell it in open marketplaces.
There are lots of online platforms you can use, such as OpenSea, Rarible, SuperRare, Nifty Gateway, Foundation, and so on.
People can also earn in the metaverse by playing games or completing tasks in the virtual world.
Another alternative is to invest your time in developing and creating your own NFTs for a metaverse and then sell them at that Metaverse’s marketplace.
Anything can be turned into an NFT using tokenization like a music file, a JPG file, or even a tweet. The founder of Twitter, Jack Dorsey, transformed his first tweet into an NFT and then sold it for $2.9 million.
The Sandbox has an editor which is called “VoxEdit” that simplifies the creation of NFTs out of 3D pixels, so it’s possible to upload these NFTs for sale in The Sandbox’s marketplace.
Metaverse Architecture and Designer
Since the digital frontier is full of virtual lands, there is a high demand for designers who could turn these properties into houses, malls, concert halls, galleries, and museums. It’s like in real life.
Architects can also use and modify their lost competition projects to create new virtual environments that can support a variety of activities and events. Another way that architects can use is to help other artists to create the experiences that they want to perform or demonstrate their artwork.
Individuals or companies hire freelancers to design or even create 3D models of buildings in the digital space. So if you are a designer or architect, don’t miss the chance to try yourself in Metaverse.
Open Art Gallery
Art lovers can view paintings, sculptures, and new works as well as explore galleries in the new digital space. On different platforms, Metaverse art galleries are booming. Within the platform, users can buy and occupy parcels, allowing them to build galleries or host auctions. B.20 Monument, a popular gallery on the Cryptovoxel platform, features NFT artworks by the infamous Beeple.
As in-person galleries are becoming less popular, virtual art galleries offer people an interactive experience, enhanced opportunities, and advantages such as double exposure and unlimited connection so they can enjoy the fine works of upcoming artists. It should be noted that thanks to the use of smartphones and tablets, artists could make a significant impact on their sales.
FAQ
Can You Make Real Money in the Metaverse?
There are a number of opportunities to make real money in the Metaverse as there are, in fact, many jobs available. Any user with the correct investment, skills, and timely efforts may profit from this platform. The only thing is that it requires diligent research, as there is a lot to learn, a lot to earn, and a lot to be lost and risked.
Here are some tips that could help to start with:
- Set up a cryptocurrency wallet
- Choose your Metaverse platform
- Start exploring the Metaverse
- Invest in VR real estate
- Start building your store front in the Metaverse
How Much Money Can You Make in Metaverse?
From $100 to $15000 per month. It depends on how early you adopt trends, your skillset, and what you are offering in Metaverse.
Is Metaverse a Good Investment?
The Metaverse has a real chance to become a mainstream service. The popularity of that service is increasing every day, and it is often said to be the next generation of the internet, where users can physically walk around and explore 3D virtual worlds.
No wonder the Metaverse will become a place where everyone could make lots of money. It’s estimated that the size of this market will reach 800 billion dollars by 2024.
In addition, investing in the Metaverse should improve the long-term growth prospects of some companies, according to Bank of America. Companies worth investing in right now are Facebook, Microsoft, Unity, Roblox, and Nvidia.
Conclusion
Thus, we have covered all the possible opportunities to become rich in the Metaverse. Let’s just wrap up briefly on the central points once more:
- You can play, create or monetize VR games without any technical skills
- You can generate your money through virtual real estate
- You can host metaverse events and interact with people from all over the world
- You can design, promote or sell your own house to businesses
To date, we can’t accurately predetermine the future of the virtual platform. In the meantime, you should prepare for the coming changes by training and honing your skills in the existing prototypes of virtual universes and earning good money along the way.
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