The digital world has developed and grown at an exponential rate, which has contributed to the expansion of the revenue sources available to people. To consume static data at first, individuals went to websites and digital platforms. Web1 was the first website on the internet. As the field developed, we transitioned to Web2, where users could interact with web pages in addition to consuming static data and information.
Now that we are at Web3, internet users can earn money in addition to the opportunity to interact with websites and other users on websites. One of the best ways to make money online has recently appeared with the emergence of the metaverse in the cryptocurrency and blockchain industries.
Making Money in the Metaverse
Users can make money using the metaverse in a variety of ways, much like with other internet innovations. Since the blockchain and cryptocurrencies are evolving, there are a variety of ways to make money from them. Users can first take part in games to gain activities. Due to the fact that the metaverse is heavily centered on generating avatars and participating in virtual worlds, gaming is one of the key forces behind the creation of the metaverse.
Users can participate in the many play-to-earn games that are now accessible in the space to amass massive crypto assets. These well-known games include Axie Infinity, Decentraland, Alien Worlds, and Sandbox. The “perform-to-earn” craze has a new trend that is called move2earn. With this, users engage in fitness activities to keep healthy and earn money instead of playing video games to do so. It has gained popularity in the industry, and projects supporting it include STEPN, Genopets, and the Usain Bolt-backed Step App, which has a sizable user base. In a gamified virtual world, users walk, jog, run, and engage in other fitness activities to earn.
The blockchain world and the internet are both extended by the metaverse, as was already mentioned. In that sense, taking part in this new evolution has its advantages, including the chance to invest in metaverse tokens. A strong staff is now supporting a number of metaverse initiatives, and they are ensuring that users receive the greatest tokens with top-notch features and widespread adoption.
With market capitalizations of $989 million and $924, respectively, The Sandbox (SAND) and Decentraland (MANA) rank among the top 50 crypto coins. One of the nascent currencies on the market is Step App’s FITFI, which analysts have projected will increase in the future because of the strong project it is backed by.
The metaverse offers many more great opportunities for people to make money, like trading digital goods, organizing virtual events, building and selling virtual environments, and developing and making money from VR games. It is understandable why the metaverse idea has been gaining traction. Gartner, a tech research and consultancy company, has designated “metaverse” as one of the top five emerging trends and technologies for 2022. It is anticipated to be worth US$800 billion by 2024, according to a variety of expert assessments of its future potential.