How Can You Earn Money in the Metaverse?
From trading digital assets from eBay to trying out in-world trading, here are 16 answers to the question, “What are some interesting ways you can earn money in the Metaverse?”
- Trade Items on eBay
- Promote Companies
- Take Advantage of Play to Earn Games
- Produce Digital Assets Like NFTs
- Get into Digital Real Estate
- Create Unique Experiences
- Advertise Your Graphic Designs
- Sell AI-generated Art
- Design Digital Fashion and Avatars
- Stream Your Way to Riches
- Develop AI Solutions
- Explore Digital Certifications
- Involve Sponsorships
- Offer 3D Product Photography
- DJ Metaverse Parties
- Try In-World Trading
Trade Items on eBay
One unconventional way to make money in the Metaverse is through item trading. By buying and selling rare items such as game avatar rewards, collectibles, and physical achievements, traders can not only expect to turn a healthy profit but also have fun collecting virtual items.
Through item trading platforms like eBay, buyers, and sellers can find each other and agree upon the best price for an item. This offers adventurous investors the huge potential to generate income from virtual economies by satisfying the demand from avid collectors.
Promoting companies in virtual reality spaces is quickly becoming one of the most popular ways to monetize activities in the Metaverse. Promotional campaigns can come in a variety of forms, from virtual branded merchandise to live events and contests featuring sponsored prizes.
Companies are realizing the potential of investing in activities within virtual spaces as they offer them access to a whole new generation of digital customers. Promoting products or services through the Metaverse can be an attractive way for content creators to earn money, as well as help companies gain a wider audience for their brand. It’s clear that virtual marketing is here to stay and offers profitable opportunities for those looking to monetize their presence within these worlds.
Take Advantage of Play to Earn Games
Try your hand at different games to earn play in the metaverse. Some games have missions or challenges you can complete, and if you’re successful, you can earn rewards such as in-game currency.
You can redeem this currency for real-world cash value, sometimes even for cryptocurrency. It’s a great way to make some extra money while having fun! Just remember to play responsibly and invest any earnings wisely.
Michael Fischer, Founder, Elite HRT
Produce Digital Assets Like NFTs
The weekly sales of NFTs have increased from 100 in 2017 to 50,000 in 2022. So, my favorite way to make money in the Metaverse is to create digital assets like NFTs.
This doesn’t require any upfront cash, and you can sell NFTs for potentially thousands of dollars. All you have to do is create something, such as a song, image, video, or game, and list it in a Metaverse marketplace. If you don’t know how to create digital assets, don’t worry. Simply head over to Fiverr.com, and you’ll find thousands of developers willing to build digital assets you can resell in the Metaverse for profit.
Get into Digital Real Estate
One thing that has excited me so far about the metaverse is the ability to own and use digital real estate for a wide variety of income-generating activities. In fact, the building blocks of interactive digital and virtual communities will solely depend on the utility we can derive from digital real estate.
I know some platforms like CEEK are already offering virtual concert hall rentals in the metaverse for live virtual performances. Brands are also building their presence in the metaverse by purchasing virtual land and showcasing experiences there.
I expect this to become an enormous industry, and those who can buy prime virtual real estate in some of the most exciting metaverse platforms will reap the benefits. The key is to buy early and to be patient enough to wait for the value of these digital assets to grow.
Create Unique Experiences
One way to earn money in the Metaverse is by providing unique and in-demand virtual experiences. Think about it—why settle for a generic virtual reality when you can create your own bespoke paradise?
You could design a virtual theme park with thrilling rides, games, and attractions. Or, if you’re a foodie at heart, you could create a virtual restaurant that serves up the most delicious dishes from around the world. Another idea is to set up an exclusive virtual nightclub and charge admission fees for users who want to attend virtual parties and events.
You could also offer VIP packages with perks such as premium access to exclusive areas, exclusive virtual drinks, and more. By providing unique and sought-after experiences, you can tap into the growing market of consumers looking for innovative and memorable virtual experiences.
Advertise Your Graphic Designs
Graphic designers should definitely give the metaverse a shot if they wish to make more money. Let’s face it, everything is going digital, and the demand for graphic designers is insane. The Metaverse urges graphic designers to create 3D designs to work well with its ideology.
Also, it’s the need of the hour to make virtual reality believable. Animations are taking the lead so that users can remain engaged. Plus, the annual salary bracket for a graphic designer in the Metaverse is around $77,000.
This way, graphic designers can welcome newer ways to earn money and have fun at the same time. The metaverse will be a chosen reality in a while, so graphic designers must take the plunge before positions fill up quickly!
Spencer Reese, CEO, Military Money Manual
Sell AI-generated Art
The Metaverse is a growing digital world that offers many opportunities for artists to monetize their skills. One such opportunity is creating art with Artificial Intelligence (AI).
AI-generated artwork is gaining popularity and increasing in value as technology advances, making it a lucrative option for artists. By using advanced AI tools, such as Midjourney, you can create unique and highly detailed images that are not easily replicated through traditional methods.
We can then sell these images as Non-Fungible Tokens (NFTs) to businesses, collectors, and other Metaverse users. There are several platforms, such as OpenSea, where you can sell your NFTs, providing a convenient and accessible way for you to monetize your art.
Design Digital Fashion and Avatars
To make money in the metaverse, employ your creative fashion sense to create digital clothing lines. Anyone interested in fashion can make their way here and gain attention, so the Metaverse isn’t just a venue for well-known designers.
Aside from clothing lines, inventive avatars that are one of a kind can help you stand out as you build anonymous avatars for yourself while assisting your friends, peers, and other users of the metaverse in customizing their avatars.
It’s time to take fashion in the metaverse seriously by taking a lead from renowned design houses like Gucci, which are experimenting with virtual apparel as NFT collections.
Stream Your Way to Riches
Earning money in the Metaverse is like earning money in the real world. It all comes down to offering goods or services that people need and will pay for.
One of the most popular ways to monetize the Metaverse is through streamers creating content around gaming, music, and entertainment. Streamers make money by running ads for companies during their broadcasts, charging subscribers a monthly fee, or receiving donations from viewers.
They also make money on merchandise sales that range from figurines of their avatar to virtual worlds they’ve created or licenses from artworks associated with them. With creativity and ingenuity, there are endless opportunities for making a living in the Metaverse.
Develop AI Solutions
AI has played a significant role in the evolution and development of the Metaverse, and even as entire industries are hard at work trying to gauge its immense potential, the one thing everyone is sure of is the prominence of AI.
From scalability and collaborations to innovation and optimization, there’s no better technology to offer solutions than AI. Artificial intelligence is even tackling issues such as abuse and derogatory content via supervision and analysis. Outages, too, seem to be under the purview of AI.
With all these opportunities lined up, developing Metaverse-oriented AI solutions ranging from simulations and the development of avatars to speech processing and traffic management is a great way to make big money.
Explore Digital Certifications
My company has explored using the Metaverse as a sales platform for our digital emergency medical certifications. As a remote company that is completely focused on digital curriculum and certifications, looking into the Metaverse was a natural avenue for us to explore.
I am currently devoting some of our marketing resources to researching how much of our target consumers engages with the Metaverse. We are primarily focused on nurses and healthcare professionals, so if we were to find that a significant percentage of them engage with the Metaverse, we could pursue it as a sales channel.
Other digital education products have done quite well, such as Nike’s Nikeland avatar, so there seems to be room for selling real-world applicable content in the Metaverse. It’s sort of a blending of both worlds.
Become a metaverse influencer! You can use your social platforms such as YouTube, TikTok, Twitter, and Instagram to lead the way into the metaverse. Consider live streaming 360-degree video, and before long, you’ll likely gain sponsorships to monetize your content. Lead the followers and fans you already have into the exciting metaverse, and watch your audience grow!
Offer 3D Product Photography
One way to make money early in the metaverse is by offering services such as virtual product photography and 3D scanning/rendering. Leverage the power of virtual photography to sell products online and within the metaverse!
You can always start out small, offering services to local businesses that want to transition into the metaverse and build connections through the local community! Eventually, you could roll that into getting requests from larger companies who were looking for virtual photography of their products.
By investing in quality equipment and taking advantage of new technologies, you could be able to generate an income early on and scale a business to become successful.
DJ Metaverse Parties
Spinning tunes in the Metaverse could be a decent way to earn some money. Metaverse parties have become a popular trend since the pandemic, as they’re safer ways to share a good time. There’s always a need for people to supply music, and drive the groove and flow of a party or event. There are even Metaverse-only DJs nowadays.
Try In-World Trading
With the Metaverse, virtual items are worth real money because they can be freely swapped and replicated. That implies anyone can make their own virtual items and wares for selling them online for actual cash.
In-world trade is a risky endeavor because of the prevalence of fraud in the Metaverse. However, if you know what you’re doing, in-world trading might be a great way to make money. The desire for unique virtual items and accessories will rise as users learn more about the Metaverse and its many virtual arenas, providing fresh chances for business owners.
Virtual currency exchanges, which function similarly to physical stock markets, provide an alternative to in-world trading. These marketplaces facilitate the buying and selling of virtual currency for fiat currency. Risky though it may be, trading in the metaverse has the potential to be a very profitable endeavor.