The idea of the metaverse isn’t new. Indeed, it’s been around for quite some time. The concept first arose decades ago in science fiction novels like Ready Player One or Snow Crash. But in recent years, the metaverse is slowly becoming a reality.
Games like Second Life or Fortnite have brought people closer to what the metaverse could look and feel like. And lately, it seems that all of the big tech companies are racing to build their own version of the metaverse. As metaverse gaming becomes more popular and widespread, more opportunities will arise for profiting. Here are 8 ways you can take advantage:
1. Sell in-game assets for real-world currency.
Selling assets is already a popular method for making money in MMOs (massively multiplayer online games) such as in World of Warcraft, the popular role-playing MMO. It can be applied to metaverse games.
Platforms such as Second Life already offer a virtual marketplace to let people buy and sell virtual items. You can sell in-game items, such as weapons, armor, and other virtual goods, for real-world currency through third-party sites.
If you have a creative flair and some design skills, there’s also the potential to make money in the metaverse by creating and selling virtual goods. This could include anything from clothes and accessories for avatars to houses and furniture for virtual spaces.
You could even consider selling your services in the metaverse, such as avatar customization or space design.
2. Buy & sell metaverse real estate.
It seems that real estate will always be a lucrative career, no matter the ups and downs of the market. With the rise of metaverse gaming, there will also be a demand for virtual real estate. Even today, you can buy and sell virtual land or property in games like Second Life or Decentraland. There’s even the option to rent land to others.
As the metaverse expands, it’s more than likely that the prices for virtual real estate will increase. Holders of ApeCoin have already had the chance to buy one of 55,000 plots of land in the Otherside metaverse game, with payment in the form of Ethereum-based NFTs called Otherdeeds.
3. Offer game coaching or tutoring services.
With any new game or technology, there will always be a learning curve. Some people will be naturally better at it than others, while some will struggle to understand how it works.
If you’re good at metaverse games, you could offer coaching or tutoring services to help others improve their skills and progress in the game, either in a one-on-one, or in a group setting.
4.Take advantage of play-to-earn games
In a nutshell, “Play-to-earn gaming” is when you’re paid or offered rewards to play a video game, generally for marketing purposes. It’s a form of advertising, and companies are willing to pay good money to get people to play their game and talk about it online.
This method is already popular with regular video games and can be applied to metaverse gaming, too, allowing players to monetize their experience.
The Sandbox is an example of existing play-to-earn games, and it has gained popularity quickly. Based on the Ethereum cryptocurrency, The Sandbox lets players complete quests in exchange for rewards. The game also offers real estate purchasing options and a marketplace to buy and sell virtual goods, so this game alone provides plenty of opportunities to make a profit from gaming in the metaverse.
5. Stream your gameplay on Twitch or YouTube.
This has been a solid source of income for the lucky few who picked up on this trend a few years back and managed to grow their video channels to a large enough audience.
If you’re good at playing metaverse games, why not share your skills with the world? Many people enjoy watching others play games, whether it’s to learn a new trick that they can apply in their games or simply for its pleasure. So why not you? You could make money by streaming your gameplay on Twitch or YouTube.
As part of your video creation strategy, you could also create helpful tutorial videos or walkthroughs for metaverse games to help other gamers when they’re stuck. And, of course, all of this can be done while selling advertising space on your channel.
6. Write game reviews or create game walkthroughs.
If you’re already a gaming journalist or blogger, you can apply your skills to writing about metaverse games. This could involve reviewing the games or creating helpful walkthroughs and guides to the virtual world.
As well as selling all of your different pieces of writing, there’s always the option to sell advertising space on your channel or another communication platform as a more direct source of income.
7. Compete in online gaming tournaments.
Another way to make money in the metaverse is by competing in online gaming tournaments. This could involve playing games like Fortnite, Dota 2, or League of Legends. There are many online gaming tournaments with large cash prizes (or, more likely, large cryptocurrency prizes), so if you’re good at metaverse games, this could be a great way to earn some extra money while doing something you truly enjoy!
8. Host events in the metaverse.
The world of events in the metaverse has already kicked off, with Fortnite even offering concerts by global stars like Travis Scott or Marshmello. The idea was so appealing that the Travis Scott concert, Astronomical, was attended online by a whopping 12.3 million people! This is an area that is only going to grow, so if you’re good at organizing events, parties, or concerts, you could make a lot of money from ticket sales by hosting them in the metaverse.
These eight ideas are just the beginning when it comes to monetizing your time in the metaverse. As this new world continues to grow and evolve, there will be many more opportunities to make money or to market your services or products.
So whatever your skills and talents are, there’s sure to be a way for you to use them for profit in the metaverse while having some fun and interacting with others in this new world.