» Metaverse Hustle: 7 Ways to Make Money in Virtual Worlds

Metaverse Hustle: 7 Ways to Make Money in Virtual Worlds

By Ruchi Gupta
— September 3, 2022
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The rush for virtual gold is heating up as the metaverse world continues to attract plenty of attention and investments from big tech companies. The metaverse world is expected to generate over $1 trillion by 2025, affirming the endless opportunities in the nascent sector.

However, contrary to perception, one does not need thousands or even millions of dollars to get a piece of the pie and generate significant value as the industry evolves. 

There are several ways to make money in the evolving virtual world, right from taking a virtual job to creating new forms of art and entertainment. Below are some of the ways you can make money in the metaverse world.

 

Creating and Selling Non-Fungible Tokens

Non-Fungible tokens are the poster child of the burgeoning metaverse world. The craze has taken the world by storm on some NFTs going for millions of dollars. Given the strong demand for digitized items in the virtual world, it’s become increasingly possible and easy to tokenize things and put them for sale. 

There are plenty of tutorials online on how to create NFTs, which is a digital proof of an item such as a piece of art, music, or collectibles. Tokenizing such items and putting them up for sale on platforms such as OpenSea or Rarible could allow one to generate some passive income in the virtual world. One of the popular websites to create an NFT is Mintnfts where you can create (or mint) any digital item.

If you are not interested in creating an NFT, you can sell other people’s work and earn commissions from the sales made. Some people have also made careers advising others on how to navigate the industry. One of the popular websites where you can create NFTs is

Investing in Metaverse Tokens

If you don’t have the skill to create NFTs to sell them for income, it’s still possible to make money in the virtual world by investing in tokens. Metaverse tokens are becoming increasingly popular the same way as normal cryptocurrencies. 

Some of the most popular metaverse tokens to invest in and speculate on their prices are Axie, SAND, and MANA, that power some of the biggest platforms in the metaverse world. In addition, the involvement of tech giants such as Meta (Facebook) in the metaverse world has been one of the catalysts behind the exponential increase in the price of these tokens.

In addition to profiting from the increase in prices of the metaverse tokens, it is possible to generate some passive income by staking the tokens. For example, projects like Sandbox and Axie Infinity offer staking facilities whereby people are required to lock in their tokens for some time without selling them to earn staking income. In addition, decentralized and popular exchanges such as Binance and Coinmetro also offer staking facilities.

Ledger Nano S Plus

Create 3D Accessories

For those with in-depth knowledge of 3D Design, it is possible to create accessories for gaming and virtual reality gameplay and make good money from it. Users in the metaverse world are increasingly looking for ways to dress their avatars with accessories like wearables, gadgets, and weapons. 

Designing and putting these accessories up for sale is a sure way of generating some passive income on the side without too much hustle. Many metaverse platforms are user-friendly and offer the tools for creating the 3D accessories. 

Nvidia is one of the companies at the heart of Metaverse growth. It offers Omniverse a toolkit set for metaverse designers. Udemy is another platform where you can learn all the toolkits for designing 3D NFT collections for metaverse projects. Decentraland and Axie Infinity also rank higher in providing all the toolsets for creating 3D collections for NFTs.

Create and Monetize Virtual Reality Games

Virtual Reality (VR) gaming has exploded and become a multibillion-dollar industry. With people constantly looking for ways to link up with other people in the virtual world and play all sorts of games, it offers an exciting way to make some money. 

Any person capable of coming up with virtual reality games can publish and make money inside the virtual reality games. For instance, in-game advertising offers the best route for making money out of VR games. In game ads can rake in decent revenues. Cross marketing also offers one of the best routes for making money whereby you join an affiliate marketer and promote other apps or games within the VR game. You can also make money by letting big companies use your virtual reality game to promote their products inside the game.

Contrary to the perception coming up with VR games, it does not require advanced technical skills create a game. Instead, one only has to combine storytelling skills with VR design platforms to make money. Some of the best tools for creating VR games include Unity, a famous game development platform, as well as Amazon Sumerian and Google VR for everyone.

Metaverse Land

Buying and Selling Virtual Land Parcels

Virtual real estate is becoming a hit in the metaverse world, attracting even the biggest financial institutions. The likes of PwC, JPMorgan, and other companies are increasingly investing in virtual real estate, all but providing an opportunity for retail investors also to make some money. As major brands move to own a slice of the metaverse, virtual real estate demand and price is on the rise. 

Any metaverse user can purchase a piece of virtual real estate at a fixed price and then flip it after some time for a profit. Metaverse platforms such as Decentraland and Sandbox provide some ways to buy virtual real estate properties for speculation. In early 2021, people could purchase virtual real estate for under $1,000. After that, the prices have exploded tenfold, with some costing hundreds of thousands. 

In addition to buying and selling virtual real estate, users can rent parcels to developers to create buildings, games, and arenas. In return, one would be entitled to a monthly income from the lease agreements signed. Renting out parcels of land is a perfect play for people who want a steady income stream. 

Parcels of land in the best metaverse locations can be expensive but are always sure to fetch a good amount of money in the long run.

Play-to-Earn Games

The metaverse world is taking the art of playing games to another new level. Instead of playing games just for fun, there are metaverse platforms that reward gamers for playing their favorite games in the virtual world. For example, platforms such as Axie Infinity, Aavegotchi, and Pegaxy come with virtual compliments whereby gamers are rewarded tradable in-game items and cryptocurrencies for killing their time in playing the games. 

While the play-to-earn games might require a hefty initial investment, it might be worth it if one’s gaming skills are top-notch. In addition, reinvesting the in-game items and upgrading them also increases earning potential.

Get a Job in a Metaverse

With the working-from-home trend here to stay, working in a metaverse company virtually also offers endless opportunities to make money on the side. Several companies are looking to employ people with experience in 3D Design and animation programming. The companies are also looking for marketers that can sell their virtual reality items and services.

Metaverse Jobs

Source: medium.com

In addition to working in a metaverse company, you can always start your own business in the metaverse world and earn income by selling virtual goods and services.

  

Bottom Line

It’s no longer a secret that the metaverse is taking the world by storm with the market expected to be worth more than $800 billion by 2024. As more and more companies flock into the new virtual space, new opportunities to make money for an ordinary developer or user are coming up. Right from creating and selling NFTs to playing and earning in games to investing in virtual real estate which are some of the ways to make money in the virtual world mentioned above.

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