Metaverse: Turn Your Gaming Passion Into Passive Income

“Stop wasting your time!” our parents would chide, convinced that our gaming was nothing more than a black hole for productivity. 

Wait…

Look at us now!

We’ve got professional gamers basking in the limelight and esports stars in Singapore pulling in crowds that give traditional sports a run for their money. The once humble pastime of gaming is now a legit way to rake in some dough. 

Welcome to the Metaverse, a virtual world where you can earn passive income from playing games. 

How to Earn Passive Income in the Metaverse

So, if you’ve ever dreamt of earning money while deep in game mode, pinch yourself because it’s real, and it’s happening right now.

Discover strategies for earning through play-to-earn games and trading digital assets like a seasoned Wall Street professional. This article will guide you on how to generate passive income within the virtual economy.

Creating Your Non-Fungible Tokens (NFTs)

Creating NFTs is like turning your digital creativity into tangible assets within the Metaverse. 

Four pixel art illustrations of Shrek dressed in various Batman costumes, presented as collectible digital assets for crypto investment. Source: Ai pixel Shrek.

• Find Your Niche: What are you passionate about? Art, toys, music, or virtual fashion? 
• Create Your Digital Asset: Produce original, high-quality digital art, music, or 3D models. 
• Choose a Platform: Research NFT marketplaces like OpenSea, Rarible, or Nifty Gateway to find one that suits your niche and audience.
• Mint Your NFT: Follow the platform’s process to upload your work and turn it into an NFT on the blockchain. This involves setting a price and deciding on royalties for future sales.
• Royalties: When minting your NFT, you can set a royalty percentage. This means every time your NFT is sold to a new owner, you get a percentage of the sale price, creating a stream of passive income! 

An NFT is a one-of-a-kind digital token that represents ownership of a specific item or asset on the blockchain. They can be anything digital: think of a video clip of a memorable sports moment, virtual clothing for avatars, or even tweets. 

Yes, tweets have been sold as NFTs. 

Successful creators such as Beeple, who sold a piece for a staggering $69 million, or the creators behind the Cryptopunks and Bored Ape Yacht Club collections, have shown the world the immense potential in NFT creation.

Series of four illustrated NFTs from the Bored Ape Yacht Club collection, each with a unique ape character in various outfits and accessories. Source: Bored Ape Yacht Club.

You’re not limited to selling these assets within a single platform or game. Once minted, they can be brought into various Metaverse environments, traded, and even used to unlock exclusive content or experiences. 

Play-to-Earn Games: Earn Money While Playing Games

Players can earn money in the Metaverse through Play-to-Earn (P2E) games by competing in tournaments, completing challenges and missions, and selling virtual items. These rewards can then be exchanged for real-world currency, or other digital assets, or to purchase in-game items to further enhance the gaming experience.

Popular Play-to-Earn Games

P2E games are built on blockchain technology, which means every in-game item, character, or piece of land you have is a digital asset you own.

Axie Infinity’s website features colorful fantasy creatures known as Axies in a whimsical landscape, with a prominent ‘Play Now’ button. Source: Axie Infinity.

• Axie Infinity: Often likened to Pokémon, this game involves breeding, raising, and battling creatures known as Axies. Each Axie is an NFT and allows players to build a collection and earn by competing in battles, selling them, or leasing them to other players.
• Decentraland: Decentraland is a virtual world owned by its players, where it’s built by you. It provides opportunities to buy land, build on it, create experiences, and host events that we will elaborate on further later. The in-game currency, MANA, is used to transact within the game and is exchanged for real money.
• The Sandbox: Similar to Decentraland, The Sandbox emphasises user-generated content, allowing players to create, buy, and sell game experiences. The game’s currency, SAND, is used for transactions within its ecosystem. Take a look at the Builders’ Challenge and stand a chance to win up to 1 million SAND! 

Our course introduces you to The Sandbox’s features, where you can customise your avatar for a unique representation in the VR world!

Creating and Monetising Virtual Experiences

One of the most straightforward ways to generate passive income in the Metaverse is by hosting virtual events. From concerts to conferences, the sky is your limit. 

But how do you make these events profitable?

A woman immersed in virtual reality using a VR headset, with a digitally enhanced cityscape background featuring futuristic neon graphics and floating Ethereum-like symbols. Source: Image by Freepik.

• Ticket Sales: Charge attendees a fee to access your event. Offer various ticket tiers for different experiences, such as VIP access or backstage passes.
• Sponsorships: Partner with brands looking to advertise their products to your event’s audience. 
• Merchandising: Sell virtual goods or real-world merchandise related to the event. This includes exclusive in-game items or clothing for avatars. 

The Metaverse is a playground for creators. 

A serene digital illustration of a meditating character floating, with a whimsical backdrop featuring characters performing various activities. Source: Image by Freepik.

Next, designing immersive experiences, such as educational tours or interactive stories, can attract a wide audience. Here’s how to develop a passive income with these creations:

• Access Fees: Charge users a one-time fee to access your experience or a subscription model for ongoing content updates.
• In-Experience Purchases: Offer premium content or features within your experience. This could range from special abilities for characters to exclusive areas within your virtual world.
• Advertising: Incorporate branded content or advertisements into your experience. 

Lastly, collaborate with other creators or brands to develop unique experiences. Partner with other creators to build experiences and share the profits based on contributions.

Staking and Decentralised Finance (DeFi) in the Metaverse

In the Metaverse, DeFi platforms are the backbone of economic transactions and enable users to borrow, lend, trade, and earn interest on their assets without the need for a central authority.

Graphic representation of blockchain technology with purple cubes linked by golden chains, surrounded by various cryptocurrency symbols like Bitcoin and Ethereum. Source: Image by Graphue on Freepik.

• Borrowing and Lending: Participate in peer-to-peer lending pools to earn interest on your digital assets or borrow against them without selling your investments.
• Yield Farming: Many DeFi platforms offer the option to stake your assets in liquidity pools. In return, earn rewards in the form of transaction fees or governance tokens, which often come with voting rights.

You become a validator or miner on certain blockchain networks when you stake your tokens.  It’s a way to earn passive income and participate in the governance and security of blockchain networks. In return, you’ll receive rewards, enhancing your earnings over time.

Do your homework and research platforms and stake opportunities carefully, considering factors like security, liquidity, and the credibility of the project. Don’t put all your digital eggs in one basket. Diversify your DeFi investments and stakes to spread risk and increase potential rewards.

Developing Passive Income in the Metaverse

We believe that this article provides valuable insights and practical examples for those interested in generating passive income through gaming.

Our Introduction to Metaverse course is designed to help you grasp the Metaverse and its core technologies like Virtual Reality (VR), Augmented Reality (AR), and Blockchain for an immersive VR experience.

You will also explore real-world case studies and learn how to create brand experiences in Metaverse games.

Don’t miss out on this course as you discover how the Metaverse can help you explore your interests, express your creativity, and connect with others in immersive ways! 

Frequently Asked Questions