7 Ways You Can Make Money in the Metaverse
The metaverse is shaping up to be the source for business owners to provide innovative products and service opportunities. If you're a graphic designer or an avid user of the metaverse, you've probably learned some tips and tricks to make it better. To help you discover ways to make money in the metaverse and identify viable metaverse investments, I asked CEOs and business leaders for their best insights. From becoming a tour guide to selling virtual avatar assets, there are several ways that you can make money in the metaverse.
How to Make Money in the Metaverse
Become a Tour Guide
One way to make real money in the metaverse is by becoming a tour guide or by serving as a middleman between hotels and travel firms. In the metaverse, you can open a travel agency and market your services to travelers because there is a lot to discover in the metaverse, so visitors will need someone who can take them around.
If you are knowledgeable about a specific metaverse or have established a solid reputation as an explorer, you may easily become a tour guide and lead tours for newcomers or those wishing to visit popular locations. You may even create your own tours and charge visitors a fee to participate. The travel and tourism industry in the Metaverse has a lot of promise, particularly in the wake of the pandemic.
- Arkadiusz Terpilowski, Head of Growth and Co-founder, Primetric
Play Play-to-Earn Games
One of the easiest ways to make money in the metaverse is by playing play-to-earn games. Many games in the metaverse will pay users in cryptocurrency just to play them. They range from typical strategy games like chess up to more intricate MMORPGs. The transactions will be small at first, but the increments will add up over time.
- Gigi Ji, Head of Brand and Business Development, KOKOLU
Consider Hosting Events
Consider hosting events in the Metaverse. As companies learn more about this virtual world, they'll start advertising events in the space. For example, the Gucci Garden is in the Metaverse. If you can afford to buy land, you can then sell tickets to attend. Whether it's a new product launch or a place to hang out, companies can easily make a dime.
- Natália Sadowski, Director of Aesthetics, Nourishing Biologicals
Related: 7 Side Hustle Ideas for Graphic Designers
Buy and Sell Virtual Real Estate
Buying and selling virtual real estate is an excellent way to make money in the metaverse. Finding areas that have great growth potential can be a goldmine for those who like to invest. When the land begins to flourish, others will take notice and become interested in purchasing it. When the time is right, selling land to interested buyers can be highly profitable.
- Adam Bem, Co-Founder and COO, Victoria VR
Own An Online Shop
The metaverse is a virtual 3D cyberspace that connects people from all over the globe via the internet. A proven way to make real money in this virtual world is to create an online store. The metaverse has made it possible for people to trade virtual items; hence you can tap into this. You have a large selection of virtual items that you can sell. Ranging from weapons to tokens to clothes or just household items. Be assured that whatever you trade in, an online store will profit in hard currency.
- Yongming Song, CEO, Live Poll for Slides
Create and Sell NFTs
Virtual world technology is gaining traction, and the need for its services will only create more opportunities. The metaverse has created a craze for the demand for virtual goods. Non-fungible tokens (NFTs) are among the most in-demand products. The NFTs can be created in the metaverse and sold in the open marketplace.
The metaverse has space for avatars, property, accessories, and equipment, among other decentralized digital objects and infrastructure. This means that they can be entirely designed and created by users to grow and support open economies. The popularity of NFTs among tech-savvy clientele and celebrities will increase the probability that such a venture turns a profit.
- Ruadhan O, CEO, Founder, Developer, and Trader, Seasonal Tokens
Sell Virtual Avatar Assets
There are many ways to make money in the metaverse, but one of the most popular is to create and sell virtual assets. This can include anything from avatar clothing and accessories to houses and land. If you have a creative flair and programming skills, you can create some amazing things for which people will pay good money. So if you're looking to make some real money in the metaverse, selling virtual assets is a great option.
- Gabriel Krikunez, Criminal Lawyer, Crimlawcanada