Metaverse hustle: You don’t need to invest huge capital to make a healthy return in virtual worlds. Tom McDermott from Metaprints has some suggestions to get you on your way to becoming a metaverse mogul, even in a bear market.
According to industry estimates, the virtual reality gaming world and Metaverse could generate over $1 trillion before 2025.
Just let that sink in for a second…
Predictions such as these really make people sit up and ask how they might be able to make an impact. This can be via generating regular income through investment in property, and metaverse experiences.
You may have seen in February of this year that someone paid a huge $450,000 to be Snoop Dogg’s neighbor in the metaverse. This is just one example of the lengths people are prepared to go to, to get the right virtual land.
In a similar fashion to the “real” world, companies and brands are looking for a virtual brand presence. They want a means of advertising products and events within the metaverse, making themselves as visible as possible.
Virtual billboards, and other forms of advertising space, are readily available for you to buy and ‘own’ within metaverse platforms such as Bloktopia.
This gives investors passive income from brands who are willing to pay to advertise there. If you purchase several billboards in developed or developing areas early on, then the rewards could be even greater. As the area becomes more popular, then you can charge advertising fees to the highest bidder.
This trend will only continue to grow. We’ve seen a number of clients already targeting prime real estate next to the biggest brands already. Get them before they’re gone!
Metaverse hustle 2: Play-to-Earn (P2E) gaming in the Metaverse
Play-to-earn games are already very well established in the blockchain industry. This allows you to ‘earn’ cryptocurrency tokens for participation or achievements in a virtual game. This mechanism is also prevalent in the metaverse too.
Platforms like The Sandbox have introduced game mechanics to their virtual worlds. With that comes the opportunity for you to earn by simply taking part in P2E games. P2E games haven’t truly taken off yet. But this will soon become one of the most prevalent use-cases for Metaverse participation and a good reason to get involved.
Our own P2E game is accessed via Social Hub games within The Sandbox. Participants with a Social Hub Pass will be able to earn $SAND tokens just for participating in games and experiences provided.
Metaverse hustle 3: Buying land strategically
There are two main reasons why you might want to purchase land in the metaverse. First and foremost, you generally only tend to buy land if you are planning on building a home or possibly a business there.
Metaverse “homes” are a great way for people to show off their lifestyle online. This is in a similar way to how many people had a personal web page during the early days of the internet, before making the more recent switch over to social media.
The main reason for buying land though is as an investment. Now, as we know, with any kind of investment comes risk, but also the prospect of high rewards. Choosing ‘up and coming’ metaverse platforms to buy land in, while they’re still relatively unknown, could pay off later down the line.
It’s important to also remember that once you’ve established where you want to be, there’s always the option for you to gain some additional income by renting your land out. Remember to do your research and don’t put all your eggs in one basket.
Metaverse hustle 4: Develop your land
Once you’ve secured your plot of land, what are you going to do with it?
You don’t need a qualification in structural engineering to make an impact. Conduct some simple research and understand what’s missing in your area. Then, you’ll be able to introduce properties, businesses, and even virtual shops.
In short, create things of interest to people or the community. The more time and effort you spend on it, the higher its potential value to others.
If you are against building from scratch, why not purchase an estate with something already on it? Then, by making subtle improvements, you’ll be able to watch as its value increases steadily over a shorter period.
Metaverse hustle 5: Create experiences
Many investors will buy plots with the sole intention of doing very little and just sitting on it. This is in the hope of selling it for a profit later down the line. Using metaverse design companies, you can easily multiply the value of your plot many times over. This is with custom-designed architectural masterpieces, shrewd business concepts, event spaces, or even ‘tourist attractions.’ Let your imagination run wild!
It’s not hard to see just how big metaverse development will become in time. New businesses spring up almost daily with incredible structures and experiences that will attract users to your land, multiplying its value exponentially.
Prepare for the long game
There’s no doubt that the metaverse is a land of virtual (and real) opportunities. But be prepared to accept that the big returns won’t be coming straight away. It may be another year or even much longer before the metaverse as a concept bubbles back into mainstream consciousness. However, by biding your time, investing wisely and strategically, focusing on quality projects, and avoiding those ‘too good to be true’ platforms, you may just emerge from this bear market as a virtual land tycoon!
About the author
Tom McDermott has over a decade of experience creating and leading digital content campaigns for some of the largest organizations in the world. Starting as a digital media journalist at Sky, Tom has an extensive background in content creation in the written, audio and visual form, successfully applying his experience to both the B2B and B2C markets. He’s currently the Head of Digital content for Forj, part of the Animoca family.
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Original Source: https://beincrypto.com/metaverse-hustle-top-5-ways-to-make-money-in-virtual-worlds/
Author : Guest Op-Ed