The Metaverse is becoming a prosperous place for entrepreneurs. Experiences like Decentraland, The Sandbox, and others are being developed as places for commerce, networking, and marketing. While Blockchain metaverses are relatively new, tech-savvy people have already started generating revenue in these virtual settings.
Metaverses let users take control of their in-game assets using crypto wallets. This creates a lively metaverse economy. It This allows gamers to trade, earn cryptocurrency, and construct brands; the possibilities are infinite.
Do you want to make money in the metaverse? Please see the guide below to learn more about how players can make cryptocurrency, start a business, or build a career in this metaverse.
How to Make Money in the Metaverse?
-
Selling NFTs
-
Designing Digital Models
-
Advertising Your Talents
-
Creating Video Content or Streaming
-
Winning by Playing
1. Selling NFTs
Metaverse entrepreneurs can sell digital products like clothing, artwork, and 3D models in virtual realms like Decentraland and The Sandbox. If If you don’t know what NFTs are, they are digital assets that can be used to create new financial tools via Blockchain. This This means that an NFT piece of artwork is not stored on your computer, or on a company’s server. Instead, it lives on the blockchain and is stored at someone’s private wallet address.
Popular NFT projects include collectible two-dimensional images such as Cryptopunks and Bored Ape Yacht Club. But NFTs come in many forms, especially in metaverses. In Decentraland, for example, every piece of clothing that is user-created can be purchased, sold, and transferred between private wallets. Bigger Brands with larger reach like Dolce & Gabbana, Gucci, Balenciaga?, and Ralph Lauren are allegedly launching in the metaverse. You can also get your own portable collections.
Wearable MetaParty has released a helmet, vest, shoes, and pants
2. Designing Digital Models
If You are an expert in 3D modeling, you can make money by designing and selling metaverse structures to other players.
Land The metaverse is quickly becoming a hot commodity. As Of January 2022 is the cheapest year to buy land in Decentraland is around £12,000. The The best places and locations are worth millions. Just As in real life, land is a valuable asset in the metaverse. Owning A piece of land can be used to promote projects, organize events, and showcase your creativity.
While Decentraland The Sandbox You can create simple structures with feature builders. However, you can also independently design a 3D model to be placed on a plot. HoweverBefore you can place models or other structures in the metaverse, you need to own land. If If you’re an experienced designer, you may be hired by someone to design a structure for them to use on their property.
Interview with CoinText 3D modeler and builder of Decentraland IAmJudasJudasThe following tips were shared by the author on how to make money from building metaverse structures
“I started building for free. Learn You can be creative, have fun, and build simple things. As I had nothing to offer except enthusiasm, I worked for free to build up my experience and increase my exposure.
One Free builds led to more free builds, which eventually led me to being offered real money to build things. I have been and remain grateful for every opportunity that came my
the metaverse
“I began organizing events in Decentraland back in March 2021 and met many amazing people with incredible ideas. Along with two friends, I created the MetaParty community in June. We now provide free assistance for interactive events within the MetaVerse 5 days a week. The MetaParty community has some NFT wearables for sale and now gains revenue from our 3,000 customers who purchase these NFT wearables.”
4. Create Video or Live Streaming Content
Decentraland The Sandbox has a dedicated group of players who stream their experiences through platforms such as YouTube and Vimeo. Twitch. A few of them have been able to monetize their content through the addition of sponsors and making videos for brands in the metaverse
Although Decentraland is still fresh and seen as an alternative activity, successful streamers in other popular games can make between £2,000 and £4,000 monthly as part of Twitch’s affiliate program. That demonstrates that streamers and content creators can still make a living, even though the number of metaverse experiences offering monetary rewards may not be large yet.
Two well-known streamers in Decentraland are Peanut and KevinonEarth. They broadcast on YouTube and Twitch respectively. By streaming experiences in the metaverse, they can reach viewers interested in the content and build a following.
Video Content creation may also be an option for companies or brands looking to create metaverse content. Take a look at this video by Argentinian YouTuber Tobik – Other ways to make money in metaverse
5. Play Games
If you’re prepared to risk it all in order to make some money in the metaverse, Decentraland features many casinos which allow you to bet real MANA on poker and blackjack. These Games are developed and managed by Decentralized games. This is a major player in the play-to win space, where users can either gamble or play other games to earn crypto.
Once The Sandbox is fully launched, it promises to host lots of play-to-win games, which allow users to earn cryptocurrency rewards. Although the number of metaverse experiences offering monetary incentives is still small, they are still in their early stages and will soon be a popular alternative to other traditional forms. If you’re interested in making real money by playing video games, the infrastructure is already in place. In countries like the Philippines and Venezuela, people can make more playing games such as Axie Infinity than they could in low-income retail, hospitality, and cleaning jobs.
Axie Infinity
Axie Infinity is a very popular metaverse game within the play to win category. It is similar to Pokémon in that players possess virtual creatures called Axies which can be fought and traded. Users can make money by selling and buying Axies, as well as earn cryptocurrency in player vs. player battles. Skilled gamers can make a living playing these games, and by trading in earned NFTs, they can make even more. Consider this one Axie which was sold for an incredible £620,000 and it’s easy to see why people are drawn to these emerging crypto-based gaming ecosystems.
And there you have it. Five ways to make money in the metaverse. There are even more, as the space grows and evolves. You are entrepreneurs in the metaverse
OpenSea has a wide range of products for sale
Bonus: Invest in Metaverse Coins
It is possible to make money in these new virtual worlds by using metaverse currencies such as $MANA, $0.SAND and $AXS.
Since Facebook’s metaverse announcement in October 2021, there has been a surge in popularity and the price of metaverse coins. Although no one knows for sure if this trend will continue, these coins could be a profitable investment due to the rush for land in the metaverses.
MANNA
MANA Token is used to power Decentralization and cover the costs of land and wearables. It is used in Decentraland Market as a currency. As the price of MANA increases, so does the cost of land or portable items.
SAND
SAND is a utility token necessary to make in-game purchases in The Sandbox. Users can make play-to-win gaming in The Sandbox and when players earn rewards, SAND can be used to pay out. SAND, another metaverse coin, gained considerable attention in 2021.
AXIS
The native token for AXS is Axie Infinity. It is used to pay out rewards for winning matches against other players and wagering rewards. Those who stake their AXS are eligible to vote in the community governance votes and can also make decisions regarding the future development and direction of the project.
