How Do You Make Money In The Metaverse?
Despite the fact that search interest in the “Metaverse” seems to have dropped lately, this new concept seems to be offering a lot of possibilities both for businesses and individuals in the next few years.
In fact, the market size of the Metaverse is expected to exceed $47 billion this year and is predicted to rise to $680 billion by 2030. This represents a growth of more than 1000% in less than a decade, providing huge potential for early investors.
Bankless Times has put together a guide on how you can make money in the Metaverse.
Here is a brief summary:
- Invest in Metaverse projects – By holding stocks in large companies that have invested in the industry, for example, Meta (former Facebook), you can capitalize on their future growth
- Get involved in play-to-earn games – You can generate income through these games by completing missions, collecting objects, and battling other players
- Buy and sell virtual assets – Like in the real world you can buy assets when they are low and sell them again when they are high. These could be digital artwork, in-game assets, wearables, and even virtual real estate
- Create VR Games and monetize in-app purchases – This requires specific skills so you might need help from experts if you are not a developer but the potential return is also higher
- Organize VR experiences – This became particularly popular during Covid for obvious reasons and the virtual event industry is set to grow steadily
- Become an NFT artist – A lot of artists have already made a lot of money by selling their artwork as NFTs. You can upload your art for free on NFT marketplaces; the challenging part is to persuade users to spend money on your creations
You can read the full guide HERE.