|Image Source: The360Report|
Making Money In The Metaverse
Metaverse is going to be a big place. It is a new medium combining entertainment, creativity, reality, and imagination. The best thing about this new level of human existence is that pretty much everything in the Metaverse is monetized and can be utilized to make that sweet cash for you entrepreneurs.
The second life or the Metaverse is a 3-dimensional dynamic world, where viewers can buy houses, cars, and avatars which they can control. The Metaverse will be a world similar to us in virtual reality.
Now to note it down there isn’t just one world in this Metaverse. There are multiple Metaverses that are owned by different companies. One thing for sure in this second life is that the greatest inventions and technological achievements will come for the users that have the capability to be creative and develop their own things.
In saying that let’s have a look at how we can create the Metaverse together while generating our income. Now the first way of earning income in the Metaverse will be through
|Image Source: Google Pics|
This would be one of the biggest income-generating methods in the Metaverse. In this picture above, you can place a banner advertisement for your company or any third party company and charge a lot of money for this service or you purchase real estate in Metaverse with the intention of resale it for a higher price.
You could even promote many social media channels that require more traffic into their accounts. Metaverse will be like a gigantic, augmented reality-driven advertising company!
And like I said before the more creative you are the more money you will be able to generate to earn that first million dollars.
2. Virtual Real Estate
The second way to make an income would be through virtual real estate and the best thing about them is that there are limited plots available because of this their value of them is rising exponentially at this stage.
One of the best ways to earn passive income from these will be to rent out your land to an artist to host a concert or you could even carry out your own short term rental Airbnb modeled business for all those users who would love to enjoy a holiday with their mates in the Metaverse.
However, we are at a really early stage of this second world that we are trying to create and it is not quite yet in a position of renting out to generate a high passive flow of income. There are many other ways of earning money apart from renting out.
One of the most common ways will be by flipping these virtual lands once you believe you have reached the capital gains you desired. To be honest, at this stage the only people who are actually making the big money are the creators and companies that build these lands and also some people that make a fraction of it by flipping virtual lands.
These Meta lands are also classified as unique things or NFTs which brings us to the 3rd way we can make money in the Metaverse and that would be Meta tokens.
3. Meta Tokens
People in the metaverse use metaverse tokens as a form of currency. Users can generate, purchase, and sell both physical and digital commodities, as well as tokenized cash. A lot of promising tokens are expected to rise in price in the coming months. Facebook has put a great deal of money towards the metaverse’s development.
Users and creators of the Metaverse will be able to produce the most unique characters and trade them. Artists like SnoopDogg partnered with companies like Sandbox to create exclusive characters that look like him which we can obviously categorize as an NFT, due to its non-fungibility.
|Image Source: Google Pics|
Yet again because of how early we are to the Metaverse, it is hard to predict how much money each opportunity will make for you millionaires. But it is surely a smart thing to read articles like these and get yourself educated to get in front of the game.
4) Metaverse Games
Axie Infinity, SandBox, and Decentraland are some of the games where you can earn money. It is not quite easy as you think it is. In some of these games, you have to pay a premium fee to have access to some characters that would enable you to win games better.
In spite of winning games, you will only get paid if you win the whole series. That too would be a small amount for an hour which will be a bigger amount in some countries, but it wouldn’t be a sustainable source of income for gamers in developed countries.
However as time evolves within the next 5 to 10 years time, Metaverse is speculated to have one of the most advanced NFT driven games that all the gamers around the world could be involved in to use as a full-time career!
You as the future millionaires, the target should be to grab the big fish out in the Metaverse pond. Since we are at the early stages of Metaverse it is quite achievable. The people who will invest early, the people who will start businesses early, the people who will be more creative to discover more entrepreneurial stuff will eventually be the next millionaires or the billionaires of the future.
It is important to stay alert for new things in this industry and you entrepreneurs will be the first ones to take off. Have faith in yourself just like how we have in you guys. Thanks for tuning in till the end and that’s a wrap for today. I hope you guys did gain enough knowledge to understand the income streams of Metaverse. If so then please share your views in the comment section. I’ll see you in the next Post!
Disclaimer: This post is not intended to be taken as financial advice. Furthermore, keep in mind that the Crypto market is highly volatile, so doing your own research or consulting with a financial advisor is always a good idea.