How to make money in the metaverse | new ways to earn money

New ways to make money in the metaverse

What is the metaverse?

The metaverse is a virtual world in which users, businesses, and digital platforms can exist and interact. It includes everything from virtual social and gaming platforms (e.g. Free Fire) to NFTs.

The metaverse is just a gaming world and has no real-world uses. Although it's easy to look at metaverse platforms and see nothing but a video game, the truth is that people are already using them for work and as a way to increase their income. 

There are several ways regular people and investors can make money in the space, including through fashion, gaming, real estate, and NFTs. Here's more on the metaverse's moneymaking opportunities.

Top ways that I use to make some decent amount of money in the metaverse

Buy and lend virtual land in the metaverse

How to buy a virtual land?

Select the metaverse platform, which is best for you. You can use: Decentraland, Facebook, The Sandbox etc. 

Setup your cryptocurrency wallet: You can try MetaMask, Coinbase wallet etc. Now connect your digital wallet to the marketplace like OpenSea, Rarible. 

Buy a cryptocurrency exchange and transfer it to your wallet. Ethereum is the most common cryptocurrency exchange these days. 

Select the piece of land which you would like to buy, In future you can lend this land to earn some money. 

As a lender, you can lend your land and receive the rent as your income. As a builder, you can rent a piece of land to build your headquarters, club, gallary or anything else you want to. The cheapest plots of metaverse land are selling for roughly $11,000. Now you can imagine the amount of money you can make from lending your property in the metaverse. 

Make money by playing games in the metaverse.

Earlier only game developers used to earn money and gamers used to spend hundreds of dollars on games like Free Fire, PUBG, BGMI etc but now game lovers can also make some easy money in the metaverse, no matter what is your age. 

Play to earn model in metaverse

Play-to-earn is a brand-new business model that combines non-fungible tokens, cryptocurrencies, and other blockchain technologies to generate real-world value from in-game goods and other digital products. Here’s a rundown of some of the most popular Play to Earn games in Metaverse! 

Splinterlands, Axie Infinity, Farming Tales, My Neighbor Alice.... 

Earn from clothing and fashion

One of the first uses of the metaverse has been fashion. High-profile fashion houses like Louis Vuitton and Gucci are already experimenting with virtual clothing in the form of NFT collections.

By using NFT in a metaverse, fashion brands will have access to a new revenue stream. Instead of only selling physical products and charging people for every visit to the virtual showroom, fashion brands will be able to make money by selling their virtual items and clothing on a decentralized market. They will also be able to reach out to a larger pool of fashion enthusiasts who will be able to partake without being in physical proximity to the brand. 

By making NFTs and selling it for higher price.

NFTs (Non-Fungible Tokens) make up much of the content inside of metaverses. NFTs in a metaverse can be anything from avatars, clothes/accessories for avatars, items/weapons for games, pets, vehicles, decorations, furniture, art, music, videos entire buildings or even plots of land. 

Metaverses typically have marketplaces where anybody can buy or sell different NFTs using the cryptocurrency of that particular metaverse. As a metaverse increases in popularity and value, it’s likely that many NFTs used in that metaverse will also increase in value. You can sell your NFTs at the right time.