How to make money in the metaverse? The complete guide – LeBigData.fr

How to make money in the metaverse? Discover all the existing methods to take advantage of the fad of the metaverse, NFTs and Web3 before it’s too late!

the metaverse is undoubtedly the buzzword of 2022. From tech giants and fashion brands to car dealerships and airlines, companies across all industries seem to be banking on this new technology.

As a reminder, a metaverse can be described as a graphical application allowing users to play, meet, work or make purchases. This 3D virtual world is based on virtual reality technologies, augmented reality and blockchain.

The investors do not hesitate to inject billions of dollars into this new market, but a question arises: how to make money in the metaverse?

Play “Play to Earn” type games

In the metaverse, “Play to Earn” type games or crypto gaming offer players the opportunity to win rewards in cryptocurrencies. You can play poker in VR, bet on eSports matches, or play competitive games, among other things.

The experiences of this type remain relatively few in number at present, but are expected to multiply over the coming years. There are already companies entirely dedicated to this new genre of games, including the startup Admix which raised $25 million in early 2022.

Sell ​​virtual clothes in NFT

In the metaverse of Decentraland, clothes for avatars can be bought and sold as NFTs minted on a blockchain.

It exists a real demand for these virtual clothes called “wearables,” and players on Decentraland and other metaverses are willing to pay dearly for the best-dressed avatar.

Create games in VR

Of course, a good way to make money in the metaverse is to design and publish content. You can for example create a VR game.

It is not necessarily necessary to have advanced technical skills, thanks to intuitive creation platforms like Horizon Worlds. Provided you have a good idea or a talent for storytellingyou can easily create an experience and monetize it.

Organize events in the metaverse

Events in the metaverse could become a huge business. Already today, performers attract massive crowds and colossal sums by organizing concerts in the virtual world.

Besides, Warner Music has partnered with the metaverse The Sandbox in order to create a virtual concert hall. the famous label Death Row Recordsrecently acquired by Snoop Dog, intends to become an NFT label and the famous rapper has already purchased a large piece of land in the metaverse.

You can host your own paid events, or find sponsors for a free event. Even if visitors participate for free, you will be able to generate income thanks to sponsors wishing to reach a new audience.

An alternative is simply to work as staff for an event. For example, virtual reality tourist destinations like a museum or art gallery will require guides for visitors. Likewise, nightclubs will need security personnel to chase away unwanted people.

Create NFTs

The NFT or non-fungible tokens will play a major role in the metaverse, allowing certify virtual property. Any content can be minted on the blockchain in the form of NFTs: music, games, books, images…

NFT collections of randomly generated character images, like CryptoPunks or Bored Ape Yacht Clubhave become a real fad and some of these tokens are selling for several hundred thousand dollars.

Create your own NFT collection and sell it on OpenSea can be a great source of income in the metaverse. He there are already a lot of NFT artists and many fail to distinguish themselves, but all it takes is a good idea and a bit of talent to make all the difference…

Alternatively, you can simply lend your talent as a graphic designer or illustrator to a team with its own project. As a freelancer, you will be paid even if the project fails and you can instead receive a percentage on each sale if successful.

Sell ​​virtual properties

Real estate is another booming business in the metaverse. The most renowned agencies in the world are jumping into this new market because players from The Sandbox and Decentraland are willing to pay extremely high prices to buy land in these virtual worlds.

In both of these universes, users can purchase land or property in the form of NFTs. In the future, many metaverses will appear and offer to invest in real estate. As an agent, you can earn significant income by taking a commission on each property sold by you

It is also possible to buy properties to resell them later. For example, Yuga Labs’ Otherside metaverse plots originally sold for the equivalent of $6,000, and the most expensive are now worth several hundred thousand dollars. It is, however, a highly risky investment.

Rather than selling your virtual land, you can also rent them to developers so that they create buildings, gaming arenas, concert halls, offices or other places there. This strategy will allow you to generate a constant income, provided you invest a large sum initially to acquire a coveted piece of land.

Finally, if you have VR design and development skills, you can create your own properties in the metaverse. Of course, each virtual universe has its own limits and constraints, so you should find out beforehand.

Become an architect or designer in the metaverse

Like real estate agents, architects embarking on the metaverse can take advantage of many opportunities. This virtual world has just been born, and everything remains to be built.

Of many brands and companies seek to establish their presence in the metaverse, creating significant demand for designers and architects capable of producing 3D building models.

Open a virtual art gallery

NFTs and virtual art are currently in the spotlight. However, this is not just a trend. Same the greatest experts in the art market believe that this new technology will transform and expand the industry in a massive way.

Real-world art galleries aren’t doomed, but virtual reality galleries will open access to art, enrich the experience thanks to digital technology and create new ways of appreciating the work of artists.

Opening an Art Gallery in the Metaverse now allows you to position yourself as a pioneer of this new phenomenon. However, it will be necessary to choose the best NFTs to attract the public…

Opening a business in the metaverse: what are the risks?

If the metaverse offers opportunities to earn money, doing business in this virtual world can also involve risks. ifventure into a new segment or investing in an additional channel always involves an element of uncertainty.

First of all, user engagement is unpredictable. Although 2D and PC-based applications will be able to be supported, the metaverse will rely primarily on virtual reality. However, so far, sales of VR headsets remain relatively low on a global population scale. This technology is not yet democratized and therefore does not offer universal scope at present.

Another risk is related to the volatility of cryptocurrencies. As of this writing, we are in the midst of a Crypto Crash and the value Bitcoin collapsed. However, a large part of the transactions in the metaverse will be based on the Blockchain since they will involve cryptocurrencies or NFTs. The virtual world is therefore in danger of being prey to strong economic instability.

As for companies directly created in the metaverse, they risk being restricted to a small fraction of the world’s population. However, virtual reality infrastructure can be difficult to translate into other digital formats or physical commerce. This could lead to a crisis similar to the speculative bubble in dot-com domain names in the 1990s if metaverse-native businesses fail to become profitable.

Finally, most followers of the metaverse believe that this virtual world must imperatively be decentralized and belong to no one. This is an advantage in terms of transparency and freedom, but it also means that it will be very difficult to regulate the metaverse and its economy. Companies will therefore be in a market subject to the law of the jungle.

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How to make money in the metaverse? The complete guide – LeBigData.fr


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