Since the metaverse's inception, every major corporation and business has desired a piece of the action. The metaverse isn't just for fun and games; here's how you can profit from it...
The metaverse is a 3D virtual simulation of the real world on the internet where users can work, eat, sleep, shop, and interact with other users from across the world just like they would in real life.
Mark Zuckerberg's rebranding of Facebook and announcing it as Meta by joining the metaverse has made many other fortune companies look at the metaverse as a project they could be interested in to promote their brand.
You can enter the wonderful world of Metaverse experiences through VR and AR headsets, which help you look into the virtual world and interact. Although these gadgets are extremely expensive now, in ten years, when the world shifts to the digital era, these accessories will be much easier to get.
Anyways, how can you earn money through the metaverse?
This extraordinary digital narrative also has its currency known as cryptocurrency. Crypto can be in the form of bitcoins, NFTs, Ethereum, Litecoin, XRP, and many more. (1)
Cryptocurrency is virtual or digital money in tokens or "coins." Though some cryptocurrencies have entered the physical world through credit cards or other schemes, the vast majority of cryptocurrencies remain completely intangible. (2)
Aside from that, the world of cryptocurrencies is evolving, and the next big digital coin may be introduced tomorrow. Although Bitcoin is usually regarded as a pioneer in the field of cryptocurrencies, experts use a variety of methods to assess tokens other than BTC.(3)
Digital currency keeps evolving and gaining new momentum every day; in the future, crypto and other intangible digital currencies will run the world.
Play-to-earn games in a nutshell
NFT games have progressed to the point that they now provide play-to-earn options. Game-Fi, as it's come to be known, combines the fields of finance and gaming, allowing players to earn money as they play some extensive games.
You don't have to rely on winning, finding, breeding, or reaching new levels in the game. In most cases, find a rare collectible worth thousands of dollars. Aside from collected animals and tokens, players may now try out various gaming models in various themes.
A blockchain-based play-to-earn (P2E) NFT game in the metaverse pays players with digital assets which has value even in the real world, like NFTs, character skins, or crypto.
These can be obtained by completing levels, entering contests, weapons, or simply spending time playing the game. The players' assets have some serious in-game value and can be exchanged for other prizes and rewards. (4) (5)
These play-to-earn games help both the players and the developers to make money. The players can earn by playing the game and crossing levels, whereas developers make money through in-game advertisements and transaction fees. (6)
Players can exchange their digital currencies in the real world for assets like shares or even property. Ironically, metaverse users can buy property on virtual earth (also in the metaverse btw) called Earth2.0 through digital currencies like bitcoin, NFTs, and other tokens.
So now that you know the metaverse rewards, let's start playing to earn...
Have you ever wondered if you could earn money by playing video games? Here are the top 5 play-to-earn games right now that you can try to make some serious cryptocurrency...
Axie Infinity is the most popular game in the metaverse right now. Created in 2018 by indie studio Sky Mavis, this game is an NFT-based video game where players can buy land and characters inspired by the popular culture of Pokemon. (7)
The avatars in this game are called Axies, and each Axie has its unique personality, just like the avatars in Pokemon. Players can conquer individual or group conquests with their Axies and earn rewards. Since they are created by the user and have a unique identification, Axies are considered NFTs. (8)
They can also race and use their Axies to battle other players and earn tokens, which they can trade in-game for rewards. (9) Smooth Love Potion (SLP) tokens are given to each player after the game as rewards. Players can then use these SLPs and breed their Axies or customize and play more battles. (10)
Sandbox's founders, Sebastien Borget and Arthur Madrid, started the company in 2011 with the primary goal of profiting from the video game business. Both saw a critical potential to introduce blockchain into the gaming industry when blockchain and cryptocurrency were still relatively unknown. (10)
Sandbox is an Ethereum-based video game where players can buy land, customize the property, develop it into their video games, or use it for other profits. This land can be brought in the form of NFTs and then made into your own experience. (11)
In this virtual world, players can create blockchain-based assets, trade with them, and make monetary profits. Monetizing your NFT in your own virtual experience is what Sandbox is all about.
Once the players enter the Sandbox game, they can either buy their land and customize it to their interests or play in another user's unique world.
The Sandbox consists of three integrated products that allow users to create their own NFT experiences. These three products are
1.VoxEdit is a tool used to create NFT game elements.
2. A marketplace where you may sell and acquire those assets.
3. Game Maker is a program that allows gamers to create their games without knowing how to code.
The Sandbox rewards its players with its SAND token. It is the basic token used for all in-game purchases and transactions. SAND can be won through participating in The Sandbox's games and contests or purchased on cryptocurrency exchanges such as Binance. (11)
Decentraland is a virtual world where users can purchase and sell the digital property and allow users to play games, interact, and collect rewards and prizes. NFTs define every collectible in this virtual world, like clothes, accessories, and property. (12)
Once you buy a piece of LAND on Decentraland, users can customize it however they wish. Ranging from movie theatres, swimming pools, parks, playgrounds, and many more, players can have everything they have in the real world and the virtual world.
On your LAND, you can create realistic 3D scenes with trees, roads, houses, and many more, create a casino and a gambling experience to profit from, or even your own video game with a theme and gameplay.
Decentraland offers two types of tokens as rewards to its players: LAND and MANA. LAND is an NFT representing the player's digital asset, and MANA is the cryptocurrency used to purchase property in Decentraland. (13)
Wondering how it is different from Sandbox? In Decentraland, players have all control over all in-house rules and regulations and get to vote on decisions in the game place. (14)
As you might have already guessed, God's Unchained is a blockchain-based free-to-play online metaverse game. But specifically, this game is majorly a card game. In this game, players must compete with other players with intelligent strategies and tactics and build up a powerful card sequence to win against other players. (15)
Players need to collect powerful cards and can trade, exchange or even sell them to other players to gain points or tokens. In the beginning, each player is given a set of 140 cards from which they need to strategize and start playing to be at the top of the leaderboard.
Scoring the top rank in the leaderboard gives the players a chance to win exciting rewards and crypto. This game is developed on the ethereum blockchain and has its ERC-20 token called GODS.
The native reward token in this game is the GODS token which can be used for all purchases and transactions. In the game, players must collect unique and powerful GODS cards and battle against other players with a strong deck.
Basically, the more you play, the more collectible cards you gain and more chances of winning. Moreover, these cards can be exchanged for currency and potentially have real-life value. (16)
Gods Unchained is one of the most well-known cryptos and blockchain initiatives. Several crypto-based mobile games are available, but incorporating blockchain into an online strategy game might be a game-changer.
Traditionally, players have purchased stuff from a gaming store they do not own. Skins, weapons, armor, and other items will be licensed to you by those games, but you will not be allowed to sell them.
Silks is an online play-to-earn blockchain-based video game where avatars in shiny suits compete in horse races to win rewards and prizes. I would say this game is truly one of a kind where players can use pure thoroughbred horses to race against one another.
Players can interact with each other, buy and sell assets, trade, and even customize their horses with accessories they wish. (17)
There is a variety of NFTs available in the game for costumes and other accessories. The interesting thing about this game is that the horses in the virtual world are linked to the horses in the real world.
So now, when a horse in the real world wins a race, tokens will be rewarded to the horse in the game. Players can then use these tokens to improve the horse's performance and even customize it. (18) Every time a horse breeds in real life, the owner of the horse in the virtual world will win tokens as well.
Blockchain technology is all anyone can talk about these days. This immersive and expansive technology opens new doors and opportunities to crypto enthusiasts.
With a combination of entertainment and assets, these play-to-earn games act as a source of income for people who largely believe in the digital era. Apart from the ones mentioned here, there are many other metaverse experiences that you can try out.
So if you too want a piece of the action, I hope this read will help you begin your journey into the METAVERSE world.