“There’s a million different ways to skin a cat” That’s one of my favorite sayings. It simply means there’s more than one way to do anything and making money with the metaverse is one of them.
Earning with the metaverse is very doable for anyone anywhere. But first, there are a few things you need to know. A proven way to make money with anything is getting in early and learning about this product. After that then you invest. You can either invest your time or your money or both into the product and be almost certain that you’ll see returns.
The product in question here is the metaverse. So, what exactly is the metaverse?
What is the Metaverse?
As simply as I can put it, the metaverse is an online world that allows you to experience a much more intimate connection with other members of the online community. It is an immersive community that allows you to do literally anything. You can earn cryptocurrency, have work meetings, go to the club or casino, go to concerts, to the mall, start a business as an animated version of yourself. You can access the metaverse with a virtual reality headset, your mobile phone, and your computer. I know “earn cryptocurrency” caught your eye. So here are ways you can cash out with the metaverse.
How to Make Money with the Metaverse
Be a User of the Product
Learning about the metaverse is a great way to benefit from the gifts of the metaverse. Getting an education in something at its early stage such as this can put you in a very unique position to earn. Ideally, you can earn when you offer your knowledge as a service. For example, learning how to market on the metaverse and advertise a company’s services virtually gives you an edge. You’re already ahead of the pack because not much metaverse marketing is taking place and because to most it’s still novel to a lot of people.
Also, creating content surrounding the topic can have you working for companies as a writer and a strategist. These are merely the tip of the metaverse iceberg. As the product advances, more and more people in the community will come up with creative ways to make money with the metaverse. And now that you’re in the know, you can earn too.
Buy and Own Property
Because the metaverse is a new virtual landscape, there will be a lot of land and property up for grabs. The first thing is to scoop up some of this property. If there’s anything the real world has taught us is that owning property such as land and real estate is always a good investment.
When you buy land in the metaverse it comes in the form of a non-fungible token (NFT). The biggest enterprise involved in the metaverse is Decentraland. Decentraland is a 3D virtual world browser-based platform where users may buy virtual plots of land as NFTs via the MANA cryptocurrency, which uses the Ethereum blockchain. Several other metaverses doing great things in the virtual property space are Sandbox, Axie Infinity, Roblox, and Illuvium.
Another interesting innovation in this space is Metaverse Properties. They are the first metaverse real estate company that updates potential investors on the best virtual property to invest in, buy or sell. Exactly like any real-world real estate company. The way that you make money here is that you buy it, hold it, and hope to sell it at a higher price or you rent it out using your own advertisements.
Invest in Metaverse Tokens
As I mentioned earlier, many metaverses such as Decentraland, Sandbox Roblox, Axie Infinity, and Illuvium, all have a token that is the underlined currency of the platform. So if you feel that buying property and waiting for its value to grow is too much of a hassle then you can check out these tokens, research them and invest in them.
The reason why this is such a good investment is that when these metaverses grow, so does the token. For example, When Decentraland was acquired by Facebook we saw a massive spike in its value as people started to believe in the possibilities of the project. And so, people who had invested at that time saw massive growth in their cryptocurrency. The Metaverse Index is an interesting crypto portfolio. It embeds a majority of metaverse tokens and allows you to invest in them collectively. This is beneficial and amazing because as the metaverse increases in adoption and tokens increase, so does your earning.
Work or Start a Business in the Metaverse
This could range from working in retail in the metaverse to being a virtual architect. Buying land is one thing but creating structures in the metaverse that match the ones in the real world can be a cash cow for you. We’ve already seen crypto enthusiast Snoop Dogg recreate his real-world house in the metaverse. He didn’t do that himself. He paid someone with the skills to do that for him. Wealthy people will pay anything for a skill like this.
Also, we see clothing brands like Gucci, Nike, Asics, Vans, and many more opening stores in the metaverse. These stores will eventually require virtual workers to attend to shoppers in the hopes to make the shopping experience life-like. That’s where we come in. More efforts to make interaction in the metaverse more life-like and the only way to catch them when they come up is to be active in the loop.
Additionally, running an eCommerce business on metaverse and delivering in the real world is a great way to earn. In the metaverse, you can meet and interact with people that would in all cases be thousands of miles away from you. This is an opportunity to be your own salesperson. Interacting and making friends in the metaverse is a great way to sell them on products you have in the real world. Because no matter how much you use the metaverse, you still need stuff in the real world.
This is a more technical approach because it involves you learning actual skills with your computer. Art, wearables, avatars, products, buildings are everything that will make up the metaverse. And so, these things are essential for clout, necessity, and leisure. Let me paint a picture. So, you open an art gallery to display your art (NFTs) in the metaverse. All sorts of people from all around the world wandering the metaverse stumble into your gallery and admire what they see and eventually purchase. Also, creating custom avatars and wearables for users when they wish to join the metaverse is a great way to make a killing.
Joining and promoting your services on Fiverr and Upwork is a great way to market yourself. A user might have land but what’s next? You can turn a profit by creating things that generally make people happy here in the real world. Concerts, parks, clubs, casinos, etc. are just a few. To achieve this, you have to have design skills. If you already have this, awesome! But if you don’t, not to worry you can learn some of them in less than a day from online educational platforms like Skillshare, Udemy, etc.
Invest in metaverse stocks
Small and large companies alike are competing in the creation of virtual universes and affiliate products that allow people to work together, socialize and have fun. With the metaverse being as trendy as it is now it’ll be smart to make investments into companies that have plans to engage this on a large scale.
Play to Earn Games
Virtual games in the metaverse are geared towards rewarding users for playing now in the early stages. But it’s not always about the players. Companies like Scorefam in its recent partnership will be an in-game provider of sports betting in the SinCity virtual world powered by the Vanilla Corporation. In essence not only can players engage in your P2E games but metaverse platforms can advertise your business by giving you real estate and billboards for your game.
The metaverse might be everywhere you look now on our Web2 internets but there are still ways to go because they are fully incorporated in society. Why do I say this? It might seem like a lot to take it right now and you might feel like you don’t have the time to spare. But the truth is, you do. Taking a little chunk of your time every day to learn about the metaverse, web3.0 and all the other blockchain protocols will pay off immensely in the long run.