The Metaverse is a democratic and decentralized platform that everyone can invest in.
The Metaverse has a ton of revenue potential.
For example, by 2025 revenues from VR gaming worlds are estimated up to be $400 billion USD.
The Metaverse could contribute to this revenue stream immensely given how popular it is and the revenue possibilities that await
us All with new innovations in virtual reality and 3D technology.
This has led users to try and find ways to make money before it becomes too late.
A november 2021 Statista survey found some of the popular monetization channels included playing to earn. Virtual property, data monetization, and investments at 60 percent,
39 percent, 37 percent, and 36 percent respectively. .Monetization of in-game items has grown significantly since that Statista survey. For example, one study found that the average player spent $1,921 on in-game purchases during 2017.
Virtual property is considered to be the second most popular monetization method with 38% of users opting for this approach.
How to Make Money in the Metaverse
There are many ways to profit in the Metaverse from low-barrier-to-entry tasks like blogging to complex economic activities, like real estate investing.
The Metaverse is a second life for the internet – a virtual environment that can be manipulated for your entertainment and profit.
Much like real life, there are many ways to make money in the Metaverse, from low-barrier-to-entry tasks like blogging to complex economic activities, like real estate investing. There’s something for everyone.
Participate in play-to-earn games
The app industry is showing significant signs of evolution and it’s really impacting how gamers are monetizing their play.
With apps like VR Poker, e-sport betting and more there are a good number of companies popping up to help gamers make money as they play games.
For example Admix just got $25 million USD to help drive in-game monetization platforms like Bloktopia will have entire floors or divisions dedicated to play-to-earn gaming. These advancements in gaming technology and the rise of companies like Admix and Bloktopia are changing the way we monetize our play. It’s an incredibly exciting time to be a gamer.
Design 3D accessories for users
Those with some knowledge of 3D design can create accessories for VR gameplay. Metaverse users would want to “dress” their avatars with accessories like wearables, gadgets, headgear, outfits, or even weapons.
One can design and sell these accessories on the marketplace taking advantage of the design toolkits that most metaverse platforms provide.
Some developers may have 3D printers in their offices but might not have enough time or resources to create physical accessories for every player.
Selling digital accessories instead of physical ones provides an easy alternative
for people with fewer resources and allows everyone to experience all the game has to offer. There are also a few interesting retail uses for VR, such as selling digital goods from meta
READ MORE: How Metaverse Changes Your Future Lifestyle?
Create and monetize VR games
Like 3D accessories, one could design and publish end-to-end games in VR. This does not necessarily require advanced technical skills.VR design platforms like Horizon Worlds allow people to make money by combining storytelling skills with VR. There are plenty of examples out there, such as Google’s iconic dinosaur game. These kind of games can be really good for user adoption and monetization. This is a space that has been fertile with creativity and experimentation. For example, there are currently over 500,000 virtual worlds available on the internet. In 2018, these communities have produced some impressive interactive pieces of art that might not be possible in any other medium without VR.
Get a freelance gig in the Metaverse
The Metaverse will have its own economy which will be unique in many ways. For example, a VR museum would require tour guides to help visitors get around effectively.VR clubs may also require security personnel, gamers may hire trophy hunters, and so on.
The “Metaverse” is a term borrowed from the novel Snow Crash to describe a virtual reality environment that is shared and experienced simultaneously many people. When looking at the possible applications for this technology, we can see that it will have its own economy which will be unique in many ways. For example, a VR museum would require tour guides to help visitors get around effectively.
VR clubs may also require security personnel, gamers may hire trophy hunters, and so on.The Metaverse will have its own economy which will be unique in many ways. For example, a VR museum would require tour guides to help visitors get around effectively.VR clubs may also require security personnel, gamers may hire trophy hunters, and so on.
Conduct Metaverse events with paid tickets
This is already an extremely popular way to make money in the Metaverse. Live concerts by real artists can attract massive crowds, and organizers can charge users in the form of paid tickets. Warner Music has already partnered with metaverse platform The Sandbox to create a virtual concert hall.
Snoop Dog’s recently acquired Death Row Records is poised to become an NFT label, and the artist has already purchased a large block of land on the Metaverse offering additional revenue generation streams.