Last Updated on 1 year by Komolafe Bamidele
The metaverse is global now and we are witnessing one of the greatest heights of the virtual world.
It is very important to pay close attention to the affairs of the metaverse so you don’t miss out.
It is no news that big companies, celebrities, investors, and even normal users have begun to take every opportunity they get to invest in the metaverse.
There are so many things you can get done on the metaverse as it is so diverse.
You can create different forms of art and also get gainfully employed in the metaverse.
In one way or another, you would make an impact on the virtual world and you get paid in currencies you can use in the real world.
That’s pretty amazing if you ask me.
I know you are thinking about this now and all you can think about is how technical it is, well newsflash, it is very simple and with the right information, you can tap into the unimaginable opportunities available in the metaverse.
Also, for the lovers of the metaverse, it is important for you to also know that over 500 million dollars were invested in the metaverse last year.
This was done through the metaverse token and various non-fungible tokens.
The amount is also increasing every day as some high-value NFT transactions have occurred recently.
What is Metaverse?
The term “metaverse” is already very popular and quite a great number of people know about it.
For those who don’t, The easiest way to explain the concept of the metaverse is that it is a virtual reality where users get to experience life in the virtual world.
Facebook has been trying to stake a claim into the virtual world long before the change of names occurred.
It all started by acquiring oculus which was very popular for building VR headsets.
It is known that meta has a new division whose sole purpose is to produce these reality glasses.
They work with virtual reality glasses and very soon we are going to enter a new wave of the metaverse.
Metaverse has a lot of uses and advantages as when you make use of the metaverse.
you can use one or more avatars to represent yourself on different platforms.
Experts have also predicted that very soon you would be traveling with your avatar from one game created by one person to another event or game hosted by a different person.
There is also a lot of profit to be made in the metaverse as the metaverse can be commercialized. It has been tied to quite a lot of currencies.
Can You Invest and Get Rich Inside The Metaverse?
It’s very crucial to note that the metaverse was not created recently but has always existed.
Companies such as decentral, Roblox, the Sandbox, and Nintendo have been making use of the virtual world for a long time and have made a lot of money from it.
There are tens of millions of users across these platforms.
Big tech companies are working very hard to ensure there is a way to bring all these different platforms into one big and unified virtual world.
This is the whole metaverse concept. This would lead to much more money being made in the metaverse and also give a premium experience for every user.
So it is basically a win-win.
For example, let’s take a look at the investment company Grayscale which has estimated that the total profits gathered from virtual gaming worldwide could be much more than $500 billion by 2025.
This would be after it crossed the $200 billion thresholds. This would see the global revenue move up over 100 percent.
Also, individuals and content creators now make use of cryptocurrency to trade all their virtual products available in the metaverse community.
This is the main reason why individuals can own their digital assets.
This is also why they can own non-fungible tokens and proceed to make in-game trades to make profits.
It creates a free market in the virtual world that can be monetized in the real world.
This is the reason why there are so many big companies heavily investing in the metaverse all of a sudden.
Just last year, an art gallery announced that their non-fungible token sales had gone up to $100 million after creating a virtual gallery.
Also, Nike acquired a virtual sneaker company and its sales have been on the rise since then.
Also, other brands such as Givenchy, Adidas, and Gucci have held fashion shows virtually using the metaverse.
Also, the music world is not left out at all as musical artists have hosted virtual concerts in the metaverse making it possible for their millions of fans across the world to view their craft.
Investors Buy Up Metaverse Real Estate in Virtual Land Boom:
Buying real estate in the metaverse in virtual land has been one of the most popular ways in which investors made their money throughout 2022.
Also, you should know that there are numerous other ways you can make money on virtual lands in the metaverse. Some of them are;
Flipping:
This is basically retail trading where you purchase different plots of land or other digital properties and resell them at a higher price, the difference in your sales price and buy price is going to your profit.
Basic Business 101.
Land brokers:
This is very similar to real estate brokers as you basically connect potential buyers and sellers.
There are so many properties available in the metaverse and being a land broker is very lucrative.
Renting:
you can buy a plot of land, build a house or establishment on top of it, and then proceed to rent it out as opposed to selling which occurs in flipping.
Business:
you can carry out various businesses on your property in the metaverse and also use your property as a hub to provide various services.
It is similar to owning a store.
Events and Games:
you can create various games in the metaverse and then charge people for entrance. That would earn you some profit.
Land Manager:
Another way through which you can earn some profits on the metaverse is to seek employment as a property or land manager.
All you have to do is oversee virtual venues and ensure that they are being used correctly.
Land Designer:
This has to do with creative intelligence as you can get paid a lot of money just to help someone design their dream property and bring it into life.
The need for 3D designers in the virtual world cannot be over-emphasized.
5 Ways to Make Money in the Metaverse
1. Creating NFTs & Selling Them:
As you have already learned, one of the most popular ways people make use of NFTs in the virtual world is to buy virtual land which is a digital piece of art.
You can create NFTs for your personal use and you can also create them as a means of trade to earn some profits.
Creating NFTs for sale in the virtual world is very profitable and all you need is one sale to earn a lot of profits.
2. Freelancers (Artists, Developers, Creators, etc):
There is no limit to the number of people who make use of the virtual world.
You can carry out various jobs as a freelancer in the virtual world to earn some profits.
You can be an artist who helps people design various things and even establishments.
You can also be a developer and build the best and most friendly establishments and neighborhoods for your users.
The virtual world is rapidly growing and there are a lot of jobs available as someone who is a freelancer.
3. Companies & Businesses will be Hiring!
You can get a lot of jobs on the metaverse as many companies are looking for individuals who they can hire for certain roles and jobs on their virtual properties.
There is no shortage of possibilities on the metaverse and you may do a worthy job in the metaverse.
4. Play To Earn:
This is no news that games like Axie infinity give you access to a play-to-earn feature that gives you NFTs and in-game cryptocurrency rewards for meeting certain requirements.
All these can be swapped for money. You can also go to sell your NFTs on secondary markets like opensea.io.
5. Metaverse is the Future Investment:
Right now the virtual reality market is predicted to grow by over 43.8 % every year until the year 2030.
You should definitely get into the metaverse as it is predicted to get much bigger in the coming years.
Why You Should Get early into metaverse:
At this point, there is no better investment than investments made into virtual properties.
In just a few months you can see your profits rise by over 500% and as we all know, the land never depreciates.
Analysts have predicted that the metaverse would soon be hitting the $850 billion thresholds as early as 2024 while others think the metaverse total earnings would be as much as $7 trillion.
There is so much money in the metaverse and you are going to earn a whole lot from it.
It makes no sense to delay, why not get on the train now and enjoy your investments from now till the future.
Conclusion:
There is a lot of money to be made from the metaverse and this would be very easy for you if you know your way around and know all the hacks to use when dealing with virtual reality and the profit aspect.
Hope my article was helpful and Goodluck on your future multiversal adventures. How To Make Money in The Metaverse – Get Job In This 5 Sectors