Many people have already mastered the art of making money 100% online. But what about beyond that, in a new “universe?” Can you make money in the metaverse?
Even though the metaverse is still a relatively new concept, you can make money through it! We’re giving you our top 25 ways of making money in the metaverse.
What Is a Metaverse?
A metaverse is a 3D universe online that combines multiple different virtual spaces, where people can interact with each other in an incredibly immersive way.
It’s persistent, which means it continues going on even after you’ve closed out your session. It’s still under development, which is why it’s a bit difficult to describe in full detail, but there are still ways you can make money in them through a variety of purposes like gaming, shopping, and even working or hosting events!
How Do Non-Fungible Tokens (NFTs) Work?
NFTs, or non-fungible tokens, are digital assets that are stored on a blockchain and used to represent anything from artwork to music to in-game items. They’re unique, and can’t be replaced by another token, making it a great way to represent other unique creations like artwork.
25 Ways to Make Money in the Metaverse
Now, let’s talk about how to pair them together to make money in the metaverse. Even still being such a new creation, people have started learning how to make money in the metaverse… and you can too!
1. Buy and Sell Virtual Real Estate
Despite the risks of buying and selling virtual real estate, it can be a profitable venture when done right, even in the metaverse. Just like you would in the real world, you’ll find a property to purchase, make an offer, and enjoy your new property, with the option to prepare it to be resold for a profit.
Instead of using dollars, you’ll be using cryptocurrency, and through it, will be able to do anything from host events to build an entire business.
2. Rent Out Your Metaverse Land
If you’re strong at building metaverse lands, you can create your own virtual world and then charge others to visit it or rent it out. Your world could be anything; gaming, shopping, an art gallery, or even for advertising through selling ad space. Charge people a monthly fee or a per-visit fee.
3. Participate in Play-to-Earn Games (or Build One)
By winning games in the metaverse, you can gain currency that can be exchanged for real-life money. The most common way to do this? Play-to-earn games, either by completing quests, winning battles, or trading with other players.
Earn enough in-game currency and exchange it for real-world money through a crypto exchange.
4. Create a Virtual Store
Another incredible way to make money in the metaverse is by creating your own store. Sell virtual clothes, accessories, furniture, decorations— anything that you think others might want to purchase. You can even open a gym and conduct fitness or yoga classes!
5. Create and Sell Non-Fungible Tokens (NFTs)
Remember the NFTs that we mentioned earlier? You can create and sell them on your own, as well. Find a platform like OpenSea, Rarible, or SuperRare, create a digital wallet, purchase crypto, upload your digital asset, set a price, and mint your NFT to get ready to sell it.
Once your NFT is minted, or ready to be bought, it’ll be stored on the blockchain so you can sell it on the platform in which you created it.
6. Become a Metaverse Architect and Designer
As a metaverse expert designer, you can help others create their own metaverse spaces through 3D modeling, animation, and programming. Build a portfolio just like you would in the real world and network with others to seek new clients.
7. Create an Art Gallery
Create a virtual space in the metaverse platform of your choice, so you can build your own art gallery and charge admission. Curate pieces, decorate your space, and market your gallery so you can build an audience.
8. Perform in Concerts, Shows, or Events
Create a virtual avatar, practice your performance, and partake in your very own performance!
9. Organize and Promote Events
Curate engaging experiences for fellow metaverse dwellers with the creativity of 3D models, animation, and other effects to bring a memorable experience for your attendees. Once the event begins, be sure to engage with your attendees to answer their questions, take requests, and enjoy sharing space.
10. Get Sponsors for Free Events
Reach out to potential sponsors and negotiate partnerships for free events you’re hosting so you can still make a profit off the work you’re doing.
11. Become a Metaverse DJ
Learn the basics of DJing and get familiar with how to do it on your given metaverse platform. Using your DJ controller, virtual reality headset, or just a keyboard and mouse, start practicing and honing your skills until you’ve networked with enough metaverse musicians where you can get paid to do it.
12. Make and Monetize VR Games
With knowledge of programming games, choose a genre, make your game immersive to accommodate the other experiences your metaverse audience is having, and program in high-quality graphics and social features to make your game engaging. Once you’re finished building it to a version you’re happy with, you can monetize your game through in-app purchases as new levels, characters, or power-ups.
13. Start a Metaverse Marketing Agency
With a solid understanding of the metaverse, you can start developing marketing strategies that will resonate with other metaverse users in the environment so you can attract metaverse clients.
14. Sell Data Online
Choose a data broker and make sure your data is high-quality before setting a price. Be ready to negotiate the terms of sale like the payment terms and use of data if need be.
15. Create a Digital Clothing Line
If you’re a lover of the metaverse and clothes, then create your own digital clothing line! Choose your clothing niche, design mockups using 3D software, and create your online store to facilitate the marketing and selling process.
16. Start Metaverse Karaoke (KTV)
Create a virtual space in the metaverse of your choosing to build a karaoke space that has people coming back for more.
17. Engage in Virtual Labor
This could be anything from education to training to collaborative projects. The metaverse is teeming with eager collaborators who could benefit from the efforts and support of other specialties.
18. Become a Product Tester
Metaverse companies are always dreaming up new games, apps and software to uplevel the user experience. Become a product tester to give them viable and actionable feedback to tweak their efforts before releasing.
19. Start Freelancing Work
Identify the skills you have and how you can translate them into the metaverse. If you have experience doing programming, you might be able to offer your services programming to create new spaces, build buildings, or take on other projects.
20. Trade Metaverse Tokens
Fellow metaverse users can buy, sell, and trade cryptocurrency as metaverse tokens by depositing finds and using your designated game’s trading platform. You can also do this through P2P, or peer-to-peer, exchange, which allows users to trade cryptocurrencies directly with each other.
21. Buy Shares in the Metaverse Index Fund
If you’re dedicated to the metaverse using real-world currency, you can purchase an exchange-traded fund, or an ETF, that tracks the performance of companies that are involved in the metaverse. It’s currently on the New York Stock Exchange Arca under the symbol “MVI.”
22. Invest in Metaverse Cryptocurrency
Choose a reputable exchange to buy your metaverse crypto and create an account and deposit funds into it. Just like US dollars, you’ll have to find a way to store your crypto safely, like in a hot wallet— which is a wallet connected to the internet, or a cold wallet, which isn’t. You’ll also want to monitor your investment by checking the price of the crypto regularly or tracking it using a portfolio tracker.
23. Become a Metaverse Influencer
Outside of the metaverse, you can become a social media, Youtube, or blog influencer all about the metaverse. Create videos, blog posts, or social media content that’s engaging, insightful, and visually appealing to consistently connect with your growing audience.
24. Start a Metaverse Coaching Business
For others who might like to dip their toe in the metaverse but haven’t already, you can become a metaverse coach, whether it’s because they want to make money, or just have fun.
You can get certified through Blockchain Council and market your offerings just like you would any business.
25. Build an E-Commerce Business
For those who want real-life metaverse products, services, or merch, build an e-commerce business and find a supplier to help you build your business.
Make Money Through the Metaverse; Manage Your Money Through doola
Stepping into a new market with skills that you already hone can be a perfect combination to start a new path for turning a profit. The metaverse can seem challenging at first but with research and the right guidance you can be well on your way to being part of something bigger.
No matter what you’re doing in the metaverse, leave it to doola to manage your finances so you can focus on what you love. Get started today!
How much money can you make in the metaverse?
Depending on what you do, you could make a few hundred dollars or a few tens of thousands of dollars a month in the metaverse as a digital apparel creator, programmer, real estate home flipper, game designer, and more.
Can you make passive income in the metaverse?
Yes, you can make passive income in the metaverse by investing in virtual real estate, creating and selling NFTs, or developing and selling virtual goods and services.
Can anyone make a metaverse?
Yes, anyone can make a metaverse. However, it requires a significant amount of time, money, and expertise to create a successful metaverse.