Probably amongst the most hyped-up topics of last year…Metaverse is not just a gig anymore. It has slowly evolved into a happening reality. It’s mankind’s age-old desire…to exist coherently with the digital world.
Think of the movie ‘Avataar’. Yes…that is the closest depiction of Metaverse’s concept, according to me. This concept, aided by the present age’s money-making capacity, proves to be the best way of earning money digitally. In this blog, we will explore the various ways through which one can potentially generate revenues in the Metaverse. But not digital money though… we are talking about ‘real’ money here! Read-Along!
The concept of moneymaking digitally
We, humans, have a tendency to seek out possibilities in whatever area we might. The digital world, or, the Internet, is a huge contributor to this aspect. The internet was originally meant for extended access and world connectivity. We’ve revamped it to the point that it is now one of the finest ways through which one can earn money.
The Internet is a legit goldmine for one who can make use of it in a proper manner. You may sell any type of digital content, as well as enhance experiences and services… And now…with technologies like Blockchain, possibilities are certainly endless…
Ways you can make money on Metaverse
Here, we won’t be mentioning some ten or twenty ways for you to make money in the Metaverse, cause the possibilities are actually limitless. Instead, we will be providing you with three fundamental ways through which not only you, but anyone can try and generate real-life income.
After endless research on the ways of Metaversal income generation, we found out three fundamental strategies. These are-
You can generate income by trading digital assets in the Metaverse.
Here, we sought to use the word ‘trading’ instead of ‘buying’ or ‘selling’ because the act of trading involves both sales and purchase. Digital assets are anything one can think of existing digitally, but one needs to make sure that it really is an ‘asset’ and not a ‘liability’. Take NFTs for example. Minting digital assets into non-fungible tokens and trading them in digital marketplaces is the new normal. Not only that, due to the aspect of non-fungibility and uniqueness they can generate huge sources of income. The idea is not only limited to NFTs. If you have any asset that you feel could be of great value for the people in the Metaverse, you can earn real money from it.
You can develop a product that satisfies the Metaversal requirements and sell it for real money.
‘Product’ in this case again is not restricted to any particular form or type. Develop any software, develop any art, understand what the Metaverse and its users want and try to supply them with the necessities. Decentraland and Sandbox wouldn’t have become this big today if they were just making another multiplayer game. Utilize the technologies of blockchain, VR and AR. The Metaverse will pay you the price.
Provide people with service that suits Metaversal usability.
Let’s take the example of play-to-earn blockchain games for example. Why are they booming? The sole reason is that they provide their players with the chance to earn along with providing entertainment. What more could Gen-Y’s and Gen-Z’s ask for? Another example would be that of the Metaverse world creator platforms like Decentraland, Sandbox, Roblox, Nvidia, Facebook, etc.
How do they seek to earn revenues? Simple. They provide people with the service to actually experience what Metaverse would feel like…
The phrase goes, “Necessity is the mother of Invention”. Give people what they want and people will pay you for it.
The key takeaway here is to understand which Metaversal income strategy suits you the best. If you are not much of an investor and don’t have the patience to wait for your Decentraland acquisition to rise in value, then there is no point in investing in Metaversal real estate. On the other hand, if you are a business person and only seek to earn commissions based on secondary asset sales, you can always create and run your personal NFT Marketplace. Research and explore your possibilities. The Metaverse is waiting for you!
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