What are the opportunities to make money in the Metaverse?

Odaily资深作者

2022-02-09 11:30

This article is about 2945 words, reading the full article takes about 5 minutes

Wherever attention flows, capital will flow.

Original Author: Old Yuppie

This article is from Laoyupi (WeChat public account ID: laoyapi), reproduced and published by Odaily with authorization.

Since the Meta Corporation announced their plans to fully embrace the Metaverse, there has been a huge increase in the number and total value of virtual landowners in the Metaverse.

What exactly is the metaverse?

The Metaverse could be the next iteration of the internet, where users use their identities to explore a world of virtual reality (VR) and augmented reality (AR), games, and digital assets."The blockchain-based Metaverse is built on open standards and accessible to anyone who chooses to be a part of the community. perfect"open metaverse

All users are allowed to participate without permission, and no one can be banned. Most of the metadata that exists today is still controlled by centralized institutions, so we are not close to perfect open metadata, but this is the goal of many Metaverse companies. For example, The Sandbox Game aims to be 100% decentralized within 5 years, and the team claims that it will continue to develop the platform while owning 0% of the shares.

As users also become owners of the platform, the incentive to innovate and grow the platform increases.

Thus, the snatching of virtual gold began. This new digital realm is attracting a lot of attention, from big tech companies to ordinary users, hoping to be the first to seize the limitless opportunities that the Metaverse presents. From engaging in virtual work to creating new forms of art and entertainment, there are several ways that your experiences in the Metaverse can generate value and be exchanged for real-world benefits. And, it might also be a lot simpler than you think. So, here's a list of a few ways you can make money in the Metaverse.

1. Investing in metaverse-specific cryptocurrencies

The most time-saving and labor-saving way to make money --- If users think that a country is about to experience a period of economic prosperity and rapid development, then they may buy some currency of that country. The principle is the same in the Metaverse, only the volatility increases exponentially.

Each metaverse has its own economy, most of these economies are powered by cryptocurrencies,"Meta "In 2021, the value of cryptocurrencies in most major metaverse sectors will increase exponentially, when Facebook rebrands itself as

, even leapfrog growth occurred.

2. Buy or create NFTs, then sell them for profit

NFT (Non-Fungible Tokens) make up most of the content in the Metaverse. NFTs in the metaverse can be anything, including avatars, avatar clothing/accessories, game items/weapons, pets, vehicles, decorations, furniture, art, music, videos, entire buildings, and even land.

In the Metaverse, you will be able to turn any of your creations into NFTs (or non-forgeable tokens) and sell them on the open market. The Metaverse will rely on avatars, mansions, clothing, collectible cards, equipment, and other digital items—designed and created entirely by users—to grow and support an open economy. There are plenty of tutorials online on how to create an NFT, which is basically a digital proof of ownership and authenticity of a particular item (virtual or not). But for those who are not particularly interested in this, there are other options to consider, such as simply opening an NFT art gallery, selling other people's works in exchange for profit sharing, or becoming an art dealer, for the veterans. Clients provide advice on how best to navigate this newly minted NFT world.

Another way to make money is to buy NFT, and sell it to make a profit when it is discovered by the market value. Likewise, people can sometimes earn NFTs by playing games or completing quests in the Metaverse.

3. Buy real estate in the Metaverse

This is the more expensive option for investing in the Metaverse, but it opens the door to numerous income-generating avenues, including passive income.

The first and most important thing to do when buying virtual real estate is to research carefully and choose a Metaverse that you think will have a prosperous future. When buying real estate in the real world, you want to choose a country, city, and neighborhood that you think will see a lot of development and value growth; usually, the sooner the better. The same concept applies to choosing the metaverse.

As of now, the two most valuable and popular metaspaces for purchasing real estate are Decentraland and The Sandbox. Just a year ago, you could buy a small plot of land in each of these two metadomains for less than $1,000. Right now, the cheapest land you can buy is currently over $10,000. In late 2021, we have witnessed the sale of land at a profit of tens or even hundreds of thousands of dollars. There are even a few who have made millions in sales.

When you buy land in Decentraland or The Sandbox. The land is actually an NFT stored on the Ethereum blockchain. Since a land is an NFT, each land is completely unique (like a real land) and cannot be copied or stolen. Again, you actually own the land, no one else; the company that created the Metaverse has no control over any NFTs you buy (including the land).

How to make money from virtual land?

Both the size and location of your property (whether it's in a popular high-traffic area) will contribute to how much income you can earn from the following avenues.

1) Holding the ground to rise

Just like land in the real world, if the entire metaverse also appreciates in value, the land in the metaverse will also appreciate in value.

Also, popular locations (like Snoop Dogg's mansion in the sandbox) being built near your land can cause your land value to skyrocket.

2) Sell products or rent"you can build an actual"physical store

, selling a product or service that exists in the real world (similar to an e-commerce site). Your store can sell NFTs that only exist in that metaverse. Your store could even not sell products, but just serve as a landmark, raising brand awareness for people passing by; perhaps it could include a link to your website as well.

Your store can sell your own products and services, or your store can act as an intermediary retailer, selling other people's products and services.

3) Build an art gallery and hold exhibitions

After building an art gallery, you can charge NFT artists to display their art in your gallery. You can have large exhibitions in your gallery and promote them throughout the universe in an attempt to drive attendance; this can also be a service that you charge for. The more famous your gallery is, the more people will pay to have their art there.

4) Build a venue and host the event

If you build a suitable venue such as a bar, nightclub, stage, concert hall or conference center, you can host a concert, show, festival or event on your virtual property for a fee. Likewise, the more famous your venue is and the more traffic you get, the more bands, speakers, and businesses will pay you for your venue rent.

5) Metaverse "Architect"/"Land Designer"

Most users in the metaverse want people who have personalized and unique digital possessions (and avatars), but they don't want to take the time (or they don't know how) to create these things themselves.

If you spend a little time learning how to create items in the Metaverse, people are willing to pay for the service. People may want to hire freelancers to create avatars, digital clothing, items or even entire games in virtual worlds. Likewise, metaverse "landowners" may look to freelancers to "build" homes on their property. These structures can be houses, stores, malls, galleries, museums, casinos, venues, corporate branches, theme parks, or anything else.

Just as individuals and businesses hire freelancers to design websites on the traditional Internet, people often hire freelancers ("architects"/"designers") to create buildings in the Metaverse. If you have a great design talent, you might as well help others design beautiful buildings.

Potential types of jobs we could see in the Metaverse in the near future:

- Virtual Realtor

- Stock brokers (including cryptocurrencies)

- Customer Service Representative (in the company's Metaverse building)

- Salesperson (inside the virtual store)

- Event Manager

- Casino Manager (Decentraland actually already exists)

- Museum manager

- Art gallery manager

- Tourist guide

- teachers and mentors

- "Architect" / "Construction Worker" (3D Digital Designer)