Popularised by video games and fiction movies, the metaverse refers to a digital platform focused on virtual and augmented reality where users can interact with each other within a code-generated environment. It is actually supposed to be a network of such universes that are ever-expanding and doesn't really have an end. After Facebook rebranded itself as "META" everyone has gone crazy to know how this new technology will shape the world. It is definitely the future of social media, gaming, and basically, everything that comes in between or Beyond. It's a universal technology and with enough creativity, it can become anything we want it to be. Businesses now have the opportunity to reinvent consumer experiences and change the way how they design their product and services. Metaverse possesses endless opportunities for everyone to collaborate with each other and grow.
In this blog, we are going to explore ways to make money in the Metaverse and understand how anyone can benefit from this trend in Crypto.
Are you ready to make some money?
Who isn't? 😂
Make Money In The Metaverse
With the inclusion of Crypto & Blockchain technologies, such platforms can provide different ways to make money and even earn passive income. Anyone from anywhere in the world can explore these opportunities. Let's explore some of them:
- Virtual Land Investment: This is the most common way of making money in the metaverse. You can buy and trade virtual land or even rent it to other users who want to build something on it. It's better than buying Real Estate in the real world because no paperwork, no maintenance and you don't have to knock on the doors of your tenants for rent. In the metaverse, it is all handled and automated by the technology.
- Sell Meta Experience: You can create Metaverse experiences like NFT art galleries or music concerts. That way you can sell tickets or charge an entry fee to other users and earn money. Make them more interactive and immersive so that people would actually want to visit your part of the Metaverse and ready to pay top dollar for it.
- Play 2 Earn Games: Most metaverse platforms offer you opportunities to earn crypto for playing the games. You can buy and own NFTs within the game that could be used to level up and make you more money as you progress. Traditionally most gamers do not earn much from their unique gaming skills but now they can.
- Advertisement: Many brands related to crypto, DeFi & NFT domains are looking to promote their products & services. If you own a piece of land on a famous platform that has thousands of daily active users, then you can sell your space for advertisements. It's a great way to earn passive income that could increase over time depending upon the demand.
- Create & Sell NFTs: Metaverse platforms like Decentraland and Sandbox provide tools and technology to make your 3D NFTs, Avatars, and even full-fledged Digital Worlds. You can sell them to other players who might want to collect them as art or use them in their Metaverse experience.
I am personally interested in virtual land investment and looking at various platforms to create my Digital Real Estate Empire. Recently invested in a PLOT in the most popular P2E game Splinterlands. What's your favorite pick out of the above? Comment below!