“While we are at the early days of the metaverse, it will advance very quickly. If companies don’t act now, they’ll find themselves operating in worlds designed by, and for, someone else.” — PAUL DAUGHERTY, Accenture Group Chief Executive – Technology & Chief Technology Officer
How to make money in the metaverse or can you profit from the metaverse? These are the top questions in the minds of those keen on profiting from the metaverse. The fact that you are here means you are one of them, and that’s a good step!
The debate around the metaverse is a replica of the talk that occurred in the early days of the internet in the period around the 70s and 80s. As the initial phases of what would become the internet as we know it today were taking shape, people embarked on a speculative phase on what the internet was, how it would unfold and the possibilities. Believe it or not, it was equally complex back then for many to fully understand what the internet was and what society could achieve with it.
Many heard about it but very few really took the time to comprehend its potential.
When you look back now, the internet may never have turned out 100% as some imagined. But it has changed the world in unimaginable ways. It’s also evident that those at the forefront went on to make a fortune. What is Google without the internet? What is Facebook without the internet? You can ask this of so many other giant companies plus the founding billionaires who capitalized on the possibilities of the internet.
Don’t allow yourself to just be left out of the metaverse. Even as we all get lost in trying to figure out how it’ll eventually shape up, it doesn’t hurt to ensure you’re in the group that is trying to do something about it. It’s not good to sit back and stare as others play the game. Yes, not everything may come to pass as it’s being predicted now, but as Jeff Bezos once put it in a letter to investors, you must be prepared to lose if you want to win big, and big wins can pay for so many lost bets.
So, can you make money in the metaverse? The quick answer is a straight YES. In this guide, we basically go through the different ways you can make money by aligning yourself with the metaverse developments. Nothing complicated, just needs some bit of focus and consistency.
How to make money in the metaverse: Getting Started
Like anything you may have ever done and hopefully done well, basic understanding and preparation is necessary. This section covers the important things you need to do to get ready.
Let’s gross over them in quick succession;
Understand the metaverse
You need to really understand what the Metaverse is all about in order to profit from the metaverse. It does not have to be very deep. A basic understanding is all you need.
We have already defined it in the introduction but let’s gloss over it again: it’s what is projected to be the next phase of the internet where people will be able to do almost everything they do in real life but virtually. It’s basically a way of advancing the things we can do with the internet.
Imagine driving a virtual car on virtual roads, buying and developing virtual land, meeting friends for a cup of coffee – at a virtual restaurant, throwing a party for your friends, attending a concert, collaborating in 3D, playing highly interactive games. This is basically what the metaverse is: being able to do anything in a virtual setting.
The metaverse is growing in popularity, with more and more people using virtual reality technology to experience it.
The most important components of the metaverse
Here are some key concepts to help you further grasp the metaverse even better:.
- The metaverse is a digital world that exists online: It is similar to the internet, but it is a separate world that allows for more immersive experiences. Users can create and customize their own avatars, and they can interact with other users in real time.
- The metaverse is built on blockchain technology: This means that it is decentralized, secure and transparent. Transactions and interactions in the metaverse are recorded on the blockchain, so users can be confident that they are safe and secure.
- The metaverse is powered by virtual reality (VR): This allows users to experience the metaverse in a truly immersive way, and it opens up endless possibilities for exploration and creativity.
- Ownership and Identity in the Metaverse is enabled by NFT technology:
What the future of the metaverse holds
While it’s hard to say for certain, experts agree that the metaverse will continue to grow in popularity. With the release of new platforms like, users will be able to create and explore even more immersive virtual worlds. We’re also likely to see more development in the area of social VR, as users look for more ways to connect with friends and family online. There’s no telling where the metaverse will go next, but one thing’s for sure—it’s here to stay!
How to get involved in the metaverse
There are a few key ways that you can start to get involved right now, and position yourself to earn from it .
- Begin building your own presence within the metaverse: This could involve creating an avatar, 3D modeling, or coding virtual reality experiences. You don’t need to be a super good developer to get started, but it does help to have a basic understanding of how code works. Luckily, there are plenty of resources online to help you get started..
- Start promoting and marketing existing businesses and experiences within the metaverse: This could involve writing reviews, creating walkthroughs or tutorials, or even just spreading awareness about amazing virtual spaces and experiences that people can have.
- Develop your own business or service within the metaverse: This could be anything from setting up a virtual storefront to offering consulting services to help people build their own virtual reality
- Find and join a helpful metaverse community: Joining a helpful metaverse community is one of the best things you can do as a beginner. A supportive and knowledgeable group of people will help get you started on the right note, answer your questions, and provide feedback and support along the way. As with any new activity, it takes time to learn all the ins and outs of virtual worlds. And so having a community to rely on makes that process much easier and more fun.
Examine your strengths
- Finances?
- Skills?
- None of the above?
Now that you understand what the metaverse is and ways to take it even further such as by finding and joining a helpful community, the next step is to examine your strengths. It’s hard to achieve anything that is not backed by your key strengths.
We all have different strengths. Some have finances in abundance, some have skills, others have both and that is fine. If you have finances you can hire skills to get things done or invest the money and let it make more money for you. If you have skills you can charge for them by offering services, get the money then use the money to advance your progressive ideas. If you have both, you can move even much faster.
But all is still not lost for those who neither have skills nor finances – you too have a real chance to get started and succeed in making money in the metaverse. That’s the beauty of the digital world isn’t it? We have seen so many people come to the internet with nothing and amass serious wealth because they were willing to learn, get some useful knowledge and proceed to use it to make something for themselves. You too can, so don’t be scared if you don’t have money nor skills. Plus it doesn’t matter your age. In this world, there are people who believe that you can’t be anything past a certain age. Far from it. There are countless stories and examples of people who have made the resolve and created a fortune by going against societal expectations and starting amazing companies at an age that many thought you cannot start any meaningful project. There is always a chase for everyone at any age. For example, Fred Luddy founded ServiceNow at the age of 49. Many more examples abound. Just check this list for inspiration.
Once you have examined yourself and determined your strengths in the context of finances, skills, or no resources/skills, next is choose the approach. Under Action, we’ll also indicate which approach is best suited for which strength. Come along.
How to make money in the metaverse
This is where you get to set the foundation of your metaverse money making journey. Luckily, there are just two key approaches on how to make money off the metaverse. From these two, you only need to pick one path (or both) to start with and pursue it with ruthless ambition. These two are.
- Active
- Passive
Active means you are going to be actively involved in the metaverse, doing stuff, following up, learning, competing, creating products, selling etc.
Passive on the other hand is where you simply invest your money and wait. You don’t need to bother with the riveting nuances of the metaverse. No need to go so deep into figuring it out. All you need to do is to identify promising investment opportunities focused on the metaverse, put your money there then go back to your routine and wait for the money to climb.
As you might have already guessed, the active approach is mostly suited for people who are extremely enthusiastic about the metaverse and want to dive in to actively participate and make money while at it. The passive approach on the other hand is suited for people who might not be so much enthusiastic about the metaverse but at the same time don’t want to miss out should it grow to explode with opportunities. It’s also the perfect fit for those with finances but no time to build something in the metaverse.
So, will you take the active approach or the passive approach? Depending on which you choose, here are the various opportunities under each.
Active method
As we learned above, the active approach means you are going to be actively involved in the metaverse.
These are the top ways to make money by actively participating in the metaverse.
1. Offer services as a skilled professional
This is perhaps the easiest way to make money in the metaverse. Got a skill that can be utilized in the metaverse? Then you can easily put it to use and make money in three ways: Employment, Freelance, or by being an ambassador. Let’s go through each.
i) Get employed
There are many startups that are focussed exclusively on the metaverse and they are all looking for talent. Whether you are a developer, a marketer, a designer, a gamer etc, you’ll get an employment opportunity that matches your skills.
Spend some time researching upcoming startups in the metaverse space who are currently hiring. The good thing with startups is that most are always great places to work. Plus you get to experience the excitement and funfare of working in a space that is being driven by some of the most passionate entrepreneurs in the world.
Top 10 Hottest Metaverse Startups
If startups are not your kind of thing, then look out for opportunities in established companies that are also investing significant resources into the metaverse. A good example is Facebook, which actually changed its name to Meta – a signal that the giant tech companies are giving serious attention to this metaverse world and so should you.
Facebook is not the only big company though that is flexing its muscle in the metaverse. Almost every tech company worth its salt is not taking chances with the metaverse. From Microsoft to Google and all the other key players in between, you should find some career opportunities that will give you a chance to earn as you participate in the metaverse.
ii) Freelance
A freelancer is a professional who works independently, rather than being employed full time by a company. Freelancers typically have a specialized skill set, and often work in fields such as writing, graphic design, software development, marketing, etc.
As a freelancer, you get to create your own schedules and work from home, or wherever you want. This means you have more control over your working life than those who are employed full time. However, it also means that you must be very disciplined and motivated to get the work done.
The great thing about freelancing is that it provides an opportunity to earn without having to commit to long term employment.
There are many opportunities for freelancers in the metaverse, ranging from content creation to event planning, programming to marketing. You can also find work as a moderator or administrator for metaverse-related forums and websites.
New metaverse job platforms are already emerging, dedicated exclusively to metaverse opportunities. A good example is the metaverse jobs, a freelance website that is full of opportunities where you can make money in the metaverse as a freelancer.
Giant freelance platforms like Upwork also have clients posting interesting metaverse jobs.
iii) Become an influencer (build a following)
If you love the limelight and don’t mind putting your name and image out there, then becoming an influencer is such a quick way to make money in the metaverse through your publicity skills. Follow these steps:
i) Find your niche in the metaverse
What are you good at? What are your passions? What can you talk about for hours on end? What can you write about daily without getting bored?
Think about the things you love and build a following around those items. But make sure they are aligned to the metaverse. Good examples include NFTs, virtual games, virtual gadgets, digital fashion, virtual real estate etc.
The key is to find something that you’re interested in and start writing or talking about it on various platforms such as Youtube, Twitter, Facebook etc. The more passionate you are about what you’re sharing, the better the results will be.
ii) Create relevant content in your chosen niche
Creating great and relevant content is key to establishing yourself as an influencer in your chosen niche.
But what does that mean, exactly? It means delivering content that is not only of high quality, but also relevant to your audience. What are they interested in? What do they want to learn about the metaverse? Hit the right cords and soon you will build an enviable audience.
Your content should be tailored to help your audience in some way, whether it’s teaching them something about the metaverse, entertaining them using metaverse tools, or inspiring them to take action and explore various metaverse platforms. When you can provide valuable content that speaks to your audience, you’ll start to see engagement (likes, shares, comments) skyrocket.
iii) Collaborate with other influencers
Collaborating with other influencers is a great way to expand your reach and grow your following. When you work together, you can share each other’s audience and create a powerful collective force.
Not only will this help you grow your following, but it can also be a great way to make money. You can collaborate on projects together, or promote each other’s products and services.
iv) Get paid to promote metaverse products or services
Businesses focussed on the metaverse, particularly startups and the big brands that want to get on the metaverse train, are aggressively searching for influencers with huge audiences to promote their products. Capitalize on this.
Many are already making a living being influencers. They are doing this using the ordinary internet as we know it today. The same tactics they are using are the very tactics you just have to apply and build a metaverse audience. Apply these techniques and see the difference it makes. The beauty of the metaverse is that it is still very new. So whatever niche you pick on, you are likely to face less competition. As the old saying goes, the early bird catches the worm. Please get in early and start building your audience today.
2. Participate in metaverse platforms
If you don’t want to be employed, become a freelancer or influencer, you can take advantage of existing metaverse platforms and start making some money on the go. Some of the best ways to do this include gaming, trading in cryptocurrencies, trading in NFTs, buying and selling items (land, accessories, clothes), creating and selling items in/for the metaverse, etc
Let’s take a deeper look at each of these approaches;
i) Play games
Metaverse gaming can be very lucrative, and there are many different types of games to choose from. For example, some games allow players to earn virtual currency that can be used to purchase items in the game or exchanged for real-world money.
Other games offer prizes for high scores or for completing certain tasks. And still other games allow players to sell their virtual assets for real-world cash. Whatever type of game you’re interested in, there’s sure to be a way to profit from it in the Metaverse.
ii) Trade in cryptocurrencies
Making money by trading in cryptocurrencies in the metaverse is a great way to get ahead of the curve and make some serious profits. There are a few things you need to know in order to be successful at this though.
First, you need to find a good exchange that supports Metaverse Ecosystem assets. Next, you’ll need to set up a digital wallet so you can store your currency safe and secure. Finally, once you have everything setup, you’ll need to start trading!
The best way to find profitable trades is by monitoring the market closely and keeping up with the latest news. You should also try to diversify your portfolio so you’re not putting all your eggs in one basket.
iii) Trade in NFTs
There are a few ways to make money in the metaverse by trading in NFTs. One way is to buy low and sell high. For example, you could purchase NFTs when they are undervalued and then sell them when they reach their highest value.
Another way is to speculate on the future value of NFTs. This can be done by examining the trends in the market and predicting which NFTs will be in demand in the future.
Finally, you could also create your own NFTs and sell them for a profit. By knowing what trends are popular and designing NFTs that fit those trends, you can create a valuable asset that people will want to buy.
iv). Sell things in the metaverse
You can sell virtual land, clothes, and other items. Again, the good thing with this approach is that you get to start with already existing platforms. For land, you can buy from platforms that sell virtual land, develop it and then sell it. For clothes you can also do the same, or even make your own virtual clothing and sell them.
How to sell virtual land in the metaverse
There are a few ways to go about selling virtual land in the metaverse. One way is to find a marketplace that specializes in selling mtaverse land, like Decentraland and Nextearth.
When selling virtual land, it’s important to be clear about what you’re selling. For example, if you’re selling a parcel of land that includes a building or other structure on it, be sure to include photos of the property and specify its dimensions..
How to sell virtual clothes
Another way to make money in the metaverse is by selling virtual clothes and accessories. These items are in high demand, and there’s a large market for them. The best way to sell virtual clothes is to set up your own online store. You can use a platform like Shopify or Bigcommerce to get started.
There are a few things to keep in mind when selling virtual clothes. First, it’s important to make sure that your items are high quality. This means that they should be well-made and look good when worn. You also want to make sure that your prices are fair, and that you’re charging enough to cover your costs and make a profit.
Another important thing to keep in mind is branding. When you create a brand, you create an identity for yourself and your products that people can trust. This helps attract customers and encourages them to come back again in the future.
3. Start a company in the metaverse niche
If you’re feeling more adventurous, you could start a company in the metaverse niche.
There are a variety of different types of companies that you can start with a focus on the metaverse.
i) Startup funding
Metaverse startup funding is one of the hottest areas right now. Entrepreneurs with a keen eye on the metaverse are looking for startup money, while investors paying attention to the metaverse are aggressively looking for promising metaverse startups to invest in.
If you can create a company that brings these two groups together, then you can capitalize on this opportunity and turn in some decent returns. You can start incubators, run accelerators, raise money and charge fees for this. The goal is to provide a cutting edge solution that provides capital for companies working on Metaverse-related projects.
ii) Software development company
If you are good in software development, then you can create a company that offers software development services to individuals or organizations that want to develop products for the metaverse.
There is a lot of stuff happening and software development services with focus on the metaverse are on high demand. Just study this niche and find the sweet spot for yourself, then put together a company and start marketing your metaverse software development services.
iii) Marketing
The metaverse is still new and many organizations are trying to figure out how to use the metaverse in their business. If you are talented in marketing, then why not acquaint yourself with the metaverse and start showing people around – helping them to market their products and services in the metaverse?
A marketing company focused exclusively on offering marketing services for the metaverse could involve helping businesses promote their products and services within the metaverse ecosystem. You could also provide consulting services to help them develop strategies for taking advantage of the metaverse.
iv) Platform
If you have sufficient capital, then developing a metaverse platform is the epitome of making money in the metaverse. The essence of a platform is to bring millions of people to one place where they can do anything related to the metaverse from playing games to buying and selling goods to offering their own services.
This could be anything from a virtual world design studio to a social media platform for VR users. The possibilities are endless!
v) Start an affiliate or display ad website in the metaverse
Finally, you could also start an affiliate or display ad website that focuses exclusively on the metaverse niche. This would be a great way to generate traffic and revenue from people who are interested in this unique online world.
Passive method
Once again, passive income is where you don’t work. You simply invest and earn continuously. Many people have made lots of money this way. For example, those who invested early when companies like Google were starting out made such a fortune when these organizations went public.
How to go about that?
1. Buy stocks in established companies that are investing in the metaverse
Buying stocks from companies that support Metaverse technology is an effortless way to get the cash streaming in. There are a host of such companies as Microsoft, Meta, Sony, Roblox, Matterport, Unity Software, NVIDIA, and Qualcomm, among others that will instantly steal your interest if you prefer the equity market way. Hence, you want to be hawk-eyed on these companies so that you’re the first to pounce on every arising opportunity.
A good example is Facebook. The Silicon Valley company embraced the Metaverse technology in 2021, with its founder, Mark Zuckerberg, rebranding it to Meta. This was the first big step the company took toward the overhaul. It preceded the purchase of Oculus Rift and other projects that are spurring the transition toward complete virtualization of the platform’s activities.
Another popular option to tap into is NVIDIA. The corporation focuses the bulk of its efforts on producing and designing graphics cards, opening the door to even more immersive and efficient digital worlds. The semiconductor maker produces chips that are used in almost every Metaverse project. Metaverse is growing inherently, meaning that many more future projects will need NVIDIA chips. The demand and returns will never die, so to say.
Play-to-earn gaming platforms are also jumping into the pool. Roblox, which was barely known since its inception in 2004, realized tremendous growth and popularity in 2021 when everyone was subscribing to its Metaverse gaming community.
You can buy stocks on the above companies through the New York Stock Exchange (NYSE) or the Nasdaq Stock Exchange (NASDAQ).
2. Invest in metaverse startups
Investing in a metaverse startup means backing a company that’s working to create products such as a new virtual world or virtual reality platform. These startups are often working on new ways to create and experience digital content, and they often have a passionate team behind them who are committed to changing the way we interact with digital media. Luckily there are currently so many Metaverse startups that are looking for new investors to help them get off the ground. So it’s easy to find the right metarverse startup to invest in if you choose to go this route.
When you invest in a metaverse startup, you’re essentially betting on the future. These companies are working on new and innovative ways to use technologies such as VR and AR technology, and they’re only going to get better with time.
So why should you invest in a metaverse startup? There are a few reasons. First of all, these companies are poised for rapid growth. VR and AR, for example, are still relatively new technologies, and the market is only going to get bigger over time.
Second, metaverse startups tend to be more innovative than traditional startups. They’re not afraid to experiment with new technology, which means they’re more likely to come up with groundbreaking ideas.
Finally, investing in a metaverse startup is a way to support the future of VR and AR. Remember these technologies are going to play a big role in the future of business.
Below are some of some of the top picks for Metaverse startups that you can invest in:
- GuildFi is a blend of Web3 infrastructure, NFTs, and an online community. GuildFi brings together some of the best technologies to take the virtual gaming experience to the next level, creating a completely unique gaming ecosystem. Unlike many online gaming platforms whose achievement platforms are limited to their platforms, GuildFi’s achievement system traverses all platforms. Besides, GuildFi has a ranking system and engagement points with which you can tie with play-to-earn games to earn some bucks while doing your hobby.
- PlayersOnly is a sports-focused metaverse start-up. The platform provides a decentralized social media ecosystem where athletes, their fans, and recruiters meet and interact. An athlete creates a profile through which they can keep track of their overall progress and pin down their anthropometrics. This is not merely a unique identifier, users are exposed to several benefits such as providing incentives for investors and accessing goods and services.
- Crucible:Living up to its name, the platform acts like the metaverse bank. It provides a secure location where people can store all their metaverse-related assets. The platform uses WebVR, making it easy for people who are not tech-forward. That’s how artists, for example, are able to show off their gallery through the standard web. Many international companies and brands swear by Crucible and so could you, as an investor.
Takeaway
The fact that the metaverse is a brand new concept makes it even more exciting, as this means everyone has a chance to make money regardless of whether you are an expert or a novice. We all have a chance and the time is right. So please don’t miss out. If you have been waiting for a chance to explore ways to make money in a field where everyone’s starting out, then the metaverse is the place to be.
Everyone is figuring it out now, from Mark Zuckerber to Bill Gates plus their giant companies. This is how it normally starts, then soon the rest becomes history. so don’t wait for any other signal to start taking it seriously. When you see the big boys putting their money in something new, you don’t want to miss out.
Well, not every hyped frontier turns out 100% correct but at least we can agree that everything that has trend out big somehow starts with some level of publicity with a touch of hype. Again, the likes of Zuckerberg have already built huge businesses by betting on the future. Of course we are not saying that they will always be right and neither can we just write them off completely. Something is brewing here, and you better not close your eyes.
So here we go, hopefully you found this to be a beautiful journey on how you can start making money in the metaverse.
There are those who believe that the metaverse is a far-fetched idea that should be discarded. Of course one clear thing is that no one can really point out exactly how the metaverse world will turn out. When all is said, it’s impossible to imagine that all the projections about the metaverse about it will come to naught.
The secret is to ensure you’re not missing out while also not taking so much risk. Be part of the movement in your own small way, then let’s see what happens.
