How to Get Rich in the Metaverse? 12 Ideas
The metaverse is primed to be an important part of our future lives. Aside from its entertainment side, the metaverse will also offer ample monetary opportunities.
Therefore, it is no exaggeration to say you can get filthy rich in the metaverse. There are numerous ways to do this, ranging from flipping digital assets and hosting virtual events to participating in play-to-earn games or simply investing in metaverse tokens.
In this article, we will list the top 12 ways that can help you get rich in the metaverse.
Lucrative Money-Making Opportunities in the Metaverse
According to a report by Bloomberg, the global metaverse market could be worth $800 billion by 2024. With more and more businesses and individuals flocking to this new virtual space, there is a growing demand for services within the metaverse.
However, little is known in terms of how you, the average person, can accumulate virtual wealth. Here are some options:
1. Play-to-Earn (P2E) Games
Games like esports betting allow users to earn money while playing online games. There are entire companies dedicated to this category, like Admix, a startup that just raised $25 million to drive in-game monetization on the Metaverse.
Platforms like Bloktopia will have entire floors or divisions dedicated to play-to-earn games.
2. Become a Virtual Real Estate Agent
Last year, real estate sales in the metaverse totaled more than $500 million. With the growing popularity of the metaverse, there will be a boom in virtual real estate.
And just like in the physical world, buying and selling properties in the metaverse will require the help of experienced agents. If you have experience as a real estate agent in the physical world, you could easily transfer your skills to the metaverse.
Not only can you buy and sell properties, but you can also rent them or design one. For example, in The Sandbox metaverse, users and businesses can purchase LAND to create digital experiences. You can rent land from them for the same and earn rental income!
3. Online Shopping or Virtual Clothing
In Decentraland, clothing for avatars, known as “wearables,” can be bought and sold on the blockchain in the form of a crypto asset called a non-fungible token (NFT).
The popularity of non-fungible tokens (NFTs) skyrocketed earlier this year, as speculators and cryptocurrency enthusiasts flocked to buy the new type of asset, which represents ownership of online-only items such as digital art, trading cards, and land. in the online world.
4. Design 3D Accessories
Those with some knowledge of 3D design can create props for virtual reality games. Metaverse users would want to “dress” their avatars with accessories such as clothing, gadgets, headgear, outfits, or even weapons.
One can design and sell these props in the marketplace, taking advantage of the design toolsets provided by most metaverse platforms.
5. Become a Virtual Tour Guide
With so much to explore in the metaverse, tourists will need guides who can show them around. If you’re familiar with a particular metaverse or have built a good reputation as an explorer, you could easily become a tour guide and lead tours for newbies or those looking to visit popular attractions.
You can also create your own tours and charge people for access. For example, at The Sandbox, you will soon be able to offer people tours of the different eras of Hong Kong.
6. Conduct Metaverse Events
This is already an extremely popular way to make money in the Metaverse. Live concerts by real artists can draw massive crowds, and organizers can charge users in the form of paid tickets.
Warner Music has already partnered with the metaverse platform The Sandbox to create a virtual concert hall. Death Row Records, recently acquired by Snoop Dog, is on the verge of becoming an NFT imprint, and the artist has already purchased a large piece of land in the Metaverse that offers additional revenue generation streams.
7. Get a Freelance Gig in the Metaverse
The Metaverse will have its own economy complete with a unique set of skill requirements for service jobs. For example, a virtual reality tourist destination such as a museum or art gallery would require tour guides to help visitors navigate this space effectively. VR clubs may also require security personnel, players may hire trophy hunters, etc.
8. Work as a Virtual DJ
From Paris Hilton to David Guetta to Wave, the first DJ to exist only in the metaverse, music fans have made the most of the opportunities in mixed reality.
With the rise of clubs and parties in the metaverse, there will be a need for more DJs who can provide the perfect soundtrack for these events. If you have the skills to entertain a virtual crowd, you could start working as a DJ in the metaverse. You can play clubs, and parties, or even stream your sets online.
9. Buy and Sell Land Parcels
Buying virtual real estate is another popular way to make money on the Metaverse, and companies like PwC, JP Morgan, and several others have made moves in this direction.
Any user can buy a plot of land for a fixed price and then sell it at a higher price for a profit. Investors with a high appetite for risk can also explore the emerging Metaverse platforms for such opportunities.
10. Metaverse Architecture and Designer
For architects, the opportunity to design in a permissive utopia is arguably one of the most tantalizing possibilities in the emerging network of digital worlds known as the “metaverse.”
The rush of brands and companies seeking a “metaverse presence” is creating a cottage industry of architects and designers producing 3D models of buildings.
11. Rent Out Metaverse Real Estate to Developers
Instead of selling VR land for profit, users can rent plots from developers to create buildings, gaming arenas, concert halls, offices, and other venues.
This is ideal for those who want a steady stream of income, but keep in mind that in-demand properties in the best locations in the metaverse will be expensive.
12. Become a Marketing Specialist
With the growing popularity of the metaverse, companies are looking for marketers who can help them reach a larger audience. If you have a background in marketing or are familiar with the metaverse, you could start offering your services to businesses.
You can help them promote their products and services, plan events, and more. Additionally, you can also create and sell marketing materials such as templates, eBooks, and tutorials.