30th March 2022

The majority of us have already heard of the Metaverse by now. It’s the online world where people interact via digital avatars. Brands and businesses are already embracing this virtual reality sphere, where users dwell in a digital universe. Some cities like the Seoul Metropolitan took things even further by announcing that it would be the first major city to enter the Metaverse. But do you know that there is a metaverse economy where you can make money from the Metaverse? First, what’s the metaverse economy? It’s the economic activities related to the Metaverse and is based on the trade and purchase of digital goods, ranging from NFTs to outfits and even digital pets. The metaverse economy is currently generating unlimited income opportunities for creators around the globe.

 

Making money in the Metaverse

So how can we make money in the Metaverse? Here are some ways:

  1. Playing the Metaverse stock market You can invest in the Metaverse through an ETF or exchange-traded fund, like the Roundhill Ball Metaverse ETF (META) fund which you can invest in through brokerage accounts.
  2. Play-to-Earn Gaming applications in the Metaverse use NFTs to build in-game assets with real-world value. Players who earn NFTs through gameplay can cash them out for real money.
  3. Create and sell Items You can create and sell products as NFTs in the Metaverse. For example, you can consider opening an NFT art gallery and selling your work or someone else’s work in return for a cut of the profits. Also, if you are a brand, you can create digital products in the Metaverse. Some brands are already doing that, like Nike and Macdonalds.
  4. Stream content from experiencing the Metaverse You can stream your Metaverse experience for the world to see and generate some income using platforms such as Bigo Live or Twitch.
  5. Property and land rental Another way of making money in the Metaverse is buying virtual land or property in the form of an NFT. The biggest name in purchasing land in the Metaverse is Decentraland. The cheapest land available will cost you 3750 Mana, for a tiny square. So are you ready to make money in the Metaverse?

 

At Tahaluf, we provide you with advanced, custom IT solutions. Would you like to set up a business meeting with our team? Contact us at: businessdevelopment@tahaluf.ae