How To Make Money In Metaverse

Make money in Metaverse

What’s up guys? Today in this article, I want to talk about the Metaverse. I’ve recently posted an article on what is Metaverse. Do check that out. But in this one I will talk about the biggest opportunities that Metaverse is about to create for you. But first of all, let’s try to address the big question that you might be having. What is the Metaverse?

What is metaverse?

Now the Metaverse is not really a place, it’s not a virtual place that you go to. It’s more about time. A time at which your digital self is more valuable than your actual physical self. It’s a time at which you spend more time on the digital assets than you do in the real world. We are already seeing that change happening everyday in our life. Like Marc Andreessen recently said, Software is eating the world. Everything is going digital. Your work is completely digital. Previously we had factories, now we are working on our laptops. Previously you had boardrooms. Now we have Zoom calls. Education is going digital. You had lecture halls previously, now we are having Zoom classes and Google Classroom. Our friends are going digital. I have learnt more about the world and how it operates from people like Naval Ravikanth and Marc Andreessen.

Read -> What is Metaverse?

Games are going digital. There are more people playing Fortnite right now than basketball and football combine. Our identity is going online. I bet a lot of you would care more about how you look on Instagram than you do in the real world. Filters have become the new makeup for them. That’s what most people see, so that is what matters the most because of the crypto adoption. Even the financial part of your life is going digital. It’s all there on the Blockchain.

Now if you take this transition and you project it in the next 10 to 20 years. That’s when you will see us getting into the Metaverse. It’s a place in which your digital self is more valuable from your physical self. We might end up spending 90% of our time online in the future. Because that’s what matters the most. A question you might be having is how can you make money in the Metaverse? Here are all the biggest job opportunities that you will see in the coming few years.

1. Create/Sell NFTs In metaverse

First thing you can do to make money in the Metaverse is you can create and sell NFTs. NFTs are Non-Fungible Tokens. What’s that? I have written a separate article on that, you can check it out. But the basic idea is you can create wearable NFTs. You can create Avatars people can use. You can create items and people can use certain Metaverse. Then you do that because of its cultural significance and because of the other box that you can attach with the help of that NFT, it will be valuable.

Ape monkey NFT
Ape monkey NFT

The best part about having NFT is that you can actually track exactly who is buying and selling your wearable and you can also charge a particular percentage on that. So on any other future purchase, may be you can charge 5%, 10% Commission that you are completely guaranteed to get as an artist, as someone who actually made that NFT. There are a lot of fashion companies out there who are trying to find the right wayt to to crack into this Metaverse scene and build their own fashion NFT. So if you can get into the space there’s going to be a lot of opportunities for you. Learn about it and see if there is something that you would be interested in.

2. Play to Earn games In metaverse

The next one is going to be play to earn games. Now previously we have already seen games like Clash of Clans who are free to play games. You don’t have to actually pay them to play the game. Secondly, we’ve also seen games like GTA San Andreas in which you have to pay. You get the game and then you play it for however long you want. That is a pay to play game (P2P). Then you have play to earn games in which you play to earn money . You actually earn money doing so. The basic idea is you go over there, you perform certain activities in this game and then you do so you actually get crypto tokens as a result of that. Then you can actually sell those on your exchanges. When you do that, you can make money, right?

Axie-Infinity Game

It’s such a brilliant idea, but the best example of this is Axie-Infinity. It’s one of the most popular Metaverse type games out there, in which you can go over there. You have to buy Pokemon like creatures called as Axies and you can breed them, you can fight with them and then you do that, you get to win certain tokens. These are called AXS and SLP tokens.

A very simple example is you have to Axies with you, you breed them and you get a baby Axie. You can actually sell the Axie on the marketplace and you can make money doing so. There are many other ways to make money with the help of Axie-Infinity. This is just a simple example of how you can make money in a play to earn games. Now the most interesting part about this game is that is opened up doors for people who might not have the initial investment to buy and start playing Axie-Infinity. Because to start playing Axie-Infinity you actually have to buy at least three Axies and to do that you would at least need $1500 to get some good Axies out there.

Metaverse game

So they have something called as scholarships in which people have the money but don’t have the time, can connect with people who don’t have the money but they have the time to play the game. They can be connect with each other and they can decide upon agreement. A lot of the people in the Philippines are agreeing to play this game on behalf of people in the West and when they do that they get to make money. There’s a huge number of people in Philippines for making their own livings by playing this game. Someone actually bought their house by the earnings that they had by playing this one game. There are a ton of different play to earn games out there, so learn about it and start exploring.

3. Virtual Land In metaverse

Third way to make money in the Metaverse is Virtual Land. Now think about it this way, just like you have a real land from which you can buy it, rent it, you can build property and then you can rent it and you can also book shops on that. You can build a supermarket on that. You can build whatever it is that you want to on that land. So take that concept and just apply in Virtual Land. Thera are a lot of different Metaverses. You have Sandbox, you have Decentraland. All of these places have land that you can purchase. Once you purchase land on these Metaverses, you can do practically whatever is that you want on it. Let me give you couple of examples.

A) Flip Land NFTs

One of the most popular ones is to flip land NFTs. Basically people buy and hold on to NFT land and once the value appreciates overtime on OpenC or elsewhere, they sell it in secondary markets.

B) Become a Land Broker

You can also become a land broker. This might sound funny but let’s say you have a very rich friend and they want to invest in the Metaverse. They don’t know exactly what property to buy and what to sell. They don’t know much about it. You can become the broker. If you have learnt enough about various different NFT projects, Metaverse projects to be particular. You can then tell them to buy this land and sell this land. You can become the broker who will help facilitate the best purchases for your particular client in the Metaverse.

C) Rent virtual land

Number three, You can actually rent out your virtual land. A very simple example of this is, let’s just say that you have a land that is right next to a huge event that’s happening somewhere. There are going to be a lot of brands who would want to pay you to put up board on top of it. That people can actually see, people can actually learn about their brand particularly. Because there’s a lot of footfall over there. Just because of that, your land has value. Apply the same logic over here in the virtual space and you will get to understand why virtual spaces can be rented and that can be a great source of passive income for you as well.

You can also build some interesting games, shops, events on your virtual land itself. There’s a lot of interesting things happening in this space. Learn about it and see this is something interesting to you or not.

D) Become a land designer

You can also become a land designer. The basic idea is you can use Sandbox’s softwares like you have Gamemaker and VoxEdit. With the help of them you can create these lands that you can then use in the Sandbox Metaverse itself.

4. Become a Freelancer

Fourth way to make money in the Metaverse is to become a freelancer. If you are artist, if you are a developer, If you are a game designer you will have a lot of value for these Web3 startups and companies. There’s a  lot of demand developers who can create the smart contracts based on which these whole Metaverse platforms. will be better. If you’re someone who can design games for the Metaverse, you will have a lot of value for play to earn companies. For example Sky Mavis who’s developing Axie-Infinity.

If you have the ability to build out these interesting variables, sneakers as a previously mentioned, you would have a lot of value as an artist. So basically as a Freelancer if you can just go on Fiverr or Upwork, search for NFT. You will see a lot of demand for people who want to create their own NFTs. A lot of people who want to create their own Crytpo. They are you these freelance services to do exactly that. There’s  a lot of value out there for both developers, artists, game designers and many other people to utilise this great opportunity.

5. Company positions

Now the 5th way to make money is with the help of company positions. These are full-time roles not like freelance positions. You’ll be working at a company 100% of the time.

Become a community manager

The value of all of these Metaverse platforms, are 100% derived based upon these communities that they can have. How well they engage these communities. So if you can become a community manager of these paltforms you will be duly rewarded. If you can manage the social handles of these crypto projects, you’ll be duly rewarded. Because a big chunk of all of their operation is marketing expenses. That’s what they focus on of the most time. If you can help them accomplish this, you’ll definitely be happily rewarded.

These are basically the biggest opportunities out there in the Metaverse. I hope you got something to learn from this. Thank you for reading this article!!

Let me know if you have any questions in the comments section!!


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