You’ve acquired your first metaverse land parcel, and you’re wondering, “Now what?” The metaverse is a vast, wide-open place for any creative mind to wander and explore. Now is the time to learn how to monetize your metaverse investment and make some money. Maybe recoup that principal and generate an income. Let’s explore five ways to do just that.
1. Create a Product To Sell in the Metaverse
If you want to sell products and services within the metaverse, then you need to have a presence within the virtual world. This can be done through branded spaces or through native products (e.g., selling digital items). You can also use 3D objects (e.g., branded furniture) that people buy with digital currency.
For instance, a company might want to create a virtual apartment on Decentraland that is furnished with the brand’s products. This space would be similar to a real-life showroom but in a digital form. People could walk around, interact with the objects, and even buy them using blockchain-based currency — all while they are hanging out in virtual reality.
A brand might also want to create a physical product from scratch in VR. For example, an artist could design an original piece of jewelry that could then be purchased by someone else in the metaverse and exported as a 3D printable file.
2. Become a Landlord in the Metaverse
Every virtual space that people will want to hang out in needs one thing above all else: land. The more popular a location gets, the more valuable its plots of land will become because they’ll be more attractive to businesses that want to rent space in those places.
So if you’re looking for a way to make some money in the metaverse, consider becoming a “virtual landlord.” Virtual worlds have their own economies, too. If you can earn enough in-game currency or tokens, you can go out and buy your own parcel of land. It might not seem like much at first — but with the right business model and a strong metaverse property management strategy, you can start acquiring tenants and earn a solid income. And who knows? Your land could become a virtual Times Square someday.
3. Grow Your Brand Awareness in the Metaverse
For businesses, this vast network offers an unprecedented opportunity to engage with consumers on a whole new level. The metaverse is a powerful space not only for building brand awareness but also for generating content that will help drive sales and increase visibility in the real world.
It is important for companies to have a virtual presence in order to remain relevant in the market. Doing so helps you build trust with customers by proving that your company is keeping up with emerging trends, technologies, and consumer behaviors. There are many ways to build this presence, including forming partnerships with virtual content creators who already have established audiences, building virtual headquarters, or sponsoring events and attractions.
4. Charge for Metaverse Events, Training, and Content
If you’re a business owner or creator, the metaverse enables you to monetize your training, events, and e-learning content like never before, especially since these elements are all being delivered virtually these days.
Not only does the metaverse help you create better versions of your content, but it also helps you get it in front of the right audience — one that’s ready to pay for what you have to offer. You can now open up live video training sessions to an unlimited number of participants, as well as turn your content into on-demand lessons that are available 24/7/365. And with the power of non-fungible tokens (NFTs) and VR/AR, you can create new forms of highly engaging content.
Best of all, your followers will now have a way to support you by purchasing NFT tickets or subscriptions that unlock access to your content for them (and their friends).
5. Invest in NFTs
NFTs are another way to monetize content in the metaverse. They’re a type of cryptocurrency that represents a unique piece of content and can be bought, sold, or traded on the blockchain.
A token can represent any kind of digital asset, from art to stock photos to records and even tweets. For example, you could create a token that represents one of your videos and sell it to a fan for thousands of dollars.
NFTs are traded in marketplaces like OpenSea, which operates like an art gallery in that it charges a commission on each sale (though some are free). Each artist must first create an individual account on the platform through which they’ll be selling their work.
How To Monetize Your Metaverse Investment Is Up to You
Whether you are an individual looking to take your first steps into the metaverse or an entrepreneur with a budding business, there are plenty of ways to begin monetizing your metaverse investment. The virtual world of the metaverse continues to grow, full of new opportunities for its inhabitants.
When it comes to investing in the metaverse, think about getting some advice from professionals like those at 3ora. We specialize in helping people like you make sound investments in the virtual world.