5 Ways To Earn In The Metaverse In 2022
You may have heard about the Metaverse after Mark Zuckerberg’s announcement about his company's next goal: conquering the Metaverse. According to the USA Today newspaper, the Metaverse is a combination of multiple elements, including virtual and augmented reality, in which people live within a digital universe.
Proponents of the Metaverse envision that, one day, people will work, play, ride virtual cabs and make friends directly in these worlds. Something that, in my opinion, doesn't sound too new, but could mark the beginning of a new era for the digital world. However, what we are interested in is only one chapter in the history of the Metaverse, namely all the earning opportunities related to these virtual worlds. Today we're going to look at 5 ways to earn in the metaverse!
1) Play to Earn
Games of this type are commonly called play to earn, games that are quite famous in the Metaverse. Typically, these games, are combined with winning some NFT that can be resold in the different marketplaces that work on the Metaverse and its augmented reality world. Numerous players around the world make a living playing such games and even Snoop Dogg is starting to organize parties in the Metaverse where access is gained with an NFT.
Simply put, the Metaverse is a virtual realm where almost anything is possible. Games in the Metaverse can also include gambling games, old Pacman-style arcade games, and much more. Typically, to participate in these games you need the native currency of the Metaverse in question (like SAND for The Sandbox), which will act as a token to purchase a ticket. Depending on the game you choose, you can win different prizes, ranging from NFT to other digital currencies.
2) Selling clothes
Selling clothes is one of the most famous ways to make money in the Metaverse. Nike recently purchased a company that deals with the creation of virtual shoes, ready to be turned into NFTs, as written by the Daily.
In addition to Nike, many other companies such as Linkedin, Starbucks and Best Buy have expressed interest in creating stores on the Metaverse. I don't think Starbucks' coffee can be good in an NFT version, but we'll see what they come up with. Since the Metaverse is populated by avatars, it's normal that people will be looking to buy virtual clothing and items to decorate their avatar and make it unique.
If you want to take advantage of this method of making money with the Metaverse you'll have three options:
Create your own NFTs: This is one of the cheapest options if you have the skills to create NFTs. You could create shoes, hats, socks, houses, animals and sell them in the Metaverse. The only cost you will face is the cost of gas to make the transactions.
Paying someone to create NFTs: the second option is to pay a firm that specializes in creating NFTs. There are numerous people who can take care of this, including on inexpensive platforms like Fiverr.
Buying and reselling NFTs: let's finish with the actual speculation! Buying and reselling NFTs is something very much in vogue among influencers and gurus on various social platforms.
3) Selling access to events
On Ethereum's blockchain, some Metaverse already allows active users to buy land, build properties, and host whatever business they want. Snoop Dogg for example, has already rebuilt his mansion within Sandbox and is offering VIP tickets for his live show to people on the platform. There are also several figures in the network's business world who are offering access to special events on the Metaverse with the purchase of a few NFTs, a phenomenon that could get bigger and bigger.
Here a little video about Snoop Dogg in The Sandbox:
4) Sell digital properties in the market
Buying land is one of the popular ways to make money in the Metaverse. There is no single Metaverse, so people are buying any land for sale, hoping to make some money from it. Virtual real estate developer Republic Realm just set a record by buying land for 4 million in The Sandbox platform, breaking a record set a week earlier by Tokens.com for a 2 million purchase.
These companies have the full intention of creating virtual shopping malls and other rentable properties on the Metaverse, thanks to a systematic purchase of the lands currently available. In their own way they seem to envision a world in which storefronts can be rented to tech giants who want to sell merchandise, without maintaining any virtual real estate.
5) Renting land in the Metaverse
If you have a small, medium or large amount of land within the Metaverse you can rent your land to creators or builders who cannot afford to buy the land. On Second Life some homeowners earn a monthly rent paid in real money. For each rented apartment, the income is about 20€ per month. Now, we are not talking about huge sums of money, but these could increase as the Multiverse consolidates with the real world. In my opinion, renting lands and buildings in the Metaverse is a good way to passively earn money online.
