Around 3 billion people played video games worldwide in 2021, and the sector brought in hundreds of billions of dollars. A significant enough industry that several nations now classify video gaming as an addiction, and some governments have even restricted the use of video games by youths.
In a nutshell, the gaming industry is booming. Unquestionably, the metaverse is the next great thing in technology. To put it another way, everyone is talking about the metaverse. The market is experiencing a boom in metaverse game development.
A report estimates that the market for the metaverse was worth $63 billion in 2021 and is projected to grow to $1607 billion by 2030 at a CAGR of 43.2%. One such area looking into ways to make games for the metaverse is the gaming business.
How to Earn Money from Metaverse Gaming?
Gaming was mostly a pastime for many years. With the emergence of virtual gaming, video games expanded greatly. Although blockchain gaming is still in its infancy, there are already a lot of methods to make money with it. The best are listed here!
1. Purchase Metaverse Land
The market for virtual real estate has boomed during the past few years. Everyone wants a piece of the metaverse land, which has become a coveted commodity. There is a valid explanation for it. Land in the metaverse can be incredibly profitable to own. I’ll explain. Everyone became obsessed with the metaverse in 2021, and we observed numerous corporations and celebrities purchasing digital property parcels for exorbitant prices.
The prices increased as a result of the great demand and the fact that there were fewer land parcels available than normal in such games. As is sometimes the case with real estate, owning property thus became extremely profitable. Land in the metaverse is an NFT, it’s vital to remember that. NFT trading can be extremely profitable, as I previously indicated, depending on their worth.
2. Invest In Blockchain Games
One of the ways to make money with blockchain gaming is by investing. Purchasing the game’s token is the simplest way to accomplish it. For instance, if you enjoy the NFT metaverse game Alien Worlds, you might decide to purchase Trillium (TLM), which is its native token. The worth of TLM will increase along with the game’s popularity, increasing your revenue. Staking them is a better option than simply purchasing tokens and having them collect dust in your wallet.
3. Develop Mini-Games In The Metaverse
Players can design minigames inside of games in several metaverses. The entire metaverse experience is enhanced by this. It may, however, also present a chance to make money. You might be able to sell tickets for a mini-game you make on your Metaverse property.
4. Become a Host In the Metaverse
Did you know that the metaverse is home to virtual casinos hunting for hosts? Decentral Games is reportedly using gamers as hosts at its Tominoya Casino in Decentraland, according to the company’s Twitter feed. The host’s responsibility is to welcome patrons and assist individuals who are new to metaverse gaming. According to the tweet, hosts can make up to $500 in DAI or the business’s DG token.
5. Establish A Virtual Club Or Virtual Art gallery
When you own land in the metaverse, there are many other ways to make money with blockchain games outside of just selling it. In metaverse games, landowners can erect a variety of structures and experiences on their plots and charge other players for using them.
You could build a club in the metaverse and charge performers to perform there and other players to attend the concert, for instance. The metaverse would benefit greatly from having a location to display NFT art because it is so well-liked. Additionally, you get to display your NFT collection.
Virtual art galleries from well-known real-world institutions like Sotheby’s and numerous NFT marketplaces are already quite well-liked in metaverses.
6. Freelancing In The Metaverse
Freelance opportunities in metaverse games include making art and wearables, 3D models, videos, codes, developing games, marketing, etc. For instance, someone might pay you to create game experiences on land in The Sandbox or to establish an art gallery there. There are countless options. For instance, Decentraland’s Discord contains a hiring section.
7. Develop and Market In-Game Items
Making in-game products is another well-liked method of making money with blockchain games. For instance, you can make and sell game art, clothing, buildings, weapons, and avatars. The Sandbox, for instance, features a proprietary 3D modelling tool called VoxEdit. Players may quickly make avatars, tools, and objects and bring them into the game thanks to this feature. These objects become NFTs once they have been imported into the metaverse.
The metaverse will eventually permeate most businesses, including one game production, according to experts. In the near future, the market for metaverse games will be worth several billions of dollars. Therefore, joining the team today seems like a terrific choice if you are a game developer or game development company.
Remember that when gaming technology was only getting started, all of the industry titans of today joined on board. Today, however, all the major companies, including Electronic Arts (EA), are benefiting from a wise choice. EA has already made a public announcement about entering the metaverse game market. So, in the upcoming year, you may anticipate seeing some thrilling games. In addition, there are a lot of fresh new Metaverse game production studios on the horizon.
Also, read: Exciting Tech Trends To Watch Out For
Author: Kano Anafora
Newslibre is a media company that provides informative news, technology, entertainment, web, startups, gadgets, and open source projects across the world and Uganda.