Can We Use Metaverse to Make Money?
You betcha! All parties involved in the creation and use of the Metaverse stand to profit greatly from it. According to industry projections, VR game sales might reach $400 billion by 2025, according to industry projections, and the Metaverse could create $1 trillion in value altogether, according to these predictions.
As a result, users are scrambling to get a leg up and figure out how to cash in on the Metaverse. virtual property, play-to-earn videogames, data monetization, and investments accounted for 60%, 39%, 37%, and 36% of all monetization channels in a November 2021 Statista study.
Opportunities for generating income might be as simple as starting a side business or as sophisticated as investing in real estate. There are many ways for Metaverse users to gain money:
Participate In Play-To-Earn Games
Virtual reality poker, e-sport betting, and other games enable gamers to make money while playing online games. Admix, a business that just acquired $25 million in funding to help boost in-game advertising in the Metaverse, is one such company devoted to this niche. Play-to-earn gaming platforms like Bloktopia will feature specialized floors or divisions.
Create 3D-accessories in Metaverse
3D design experience is not required to build virtual reality gaming accessories. Wearables, gadgets, headgear, clothes, and even weapons may be added to avatars in the Metaverse. Using the design toolkits most metaverse platforms offer, it is possible to create and sell these items.
Make and sell virtual reality (VR) games
VR games might be developed and published like 3D accessories. This does not require a high level of technical proficiency. It is possible to generate money by combining narrative abilities with virtual reality creation platforms like Horizon Worlds. Google’s well-known dinosaur game might work just as well in a virtual reality version of the game.
Get a job in the Metaverse as a freelancer
An independent market for services in the Metaverse is in the works, replete with its own set of employment qualifications. Visitors to a VR museum or gallery might benefit from having a tour guide to assist them in traversing the room. There may also be security guards and prize hunters who need to be hired by VR clubs.
Organize paid Metaverse events
Metaverse residents have long relied on this method of making money. Organizers may make money by charging people to attend live performances by actual musicians, which can draw large audiences.
The Sandbox, a metaverse platform, and Warner Music have previously teamed up to construct a virtual performance venue. An NFT is in the works for Death Row Records, which Snoop Dog just bought, and Snoop has already purchased property in the Metaverse, where he hopes to generate new income sources.
Find sponsors for free events.
The Metaverse offers sponsorship options even if a paid event fails to draw attendees. It’s possible that a tiny firm may put up a trade fair with free entry for participants in exchange for sponsorship money.
Land parcels may be purchased and sold.
Another popular method of generating money in the Metaverse is via the purchase of virtual real estate, and some firms, such as PwC and JP Morgan, have taken steps in this regard. A land parcel may be purchased for a predetermined price and then sold for a profit by any user. Investors that are willing to take a risk might also look into Metaverse platforms that are still in their infancy.
Developers may rent out space in the metaverse.
Developers may rent out VR land plots to construct structures like gaming arenas, music halls, offices, and more. Keep in mind that high-demand homes in the best places in the metaverse will cost a lot.