The metaverse opens up a whole new world, in which countless opportunities arise. These innovative developments also bring opportunities in the financial field, where you can earn money in and around the metaverse. There are several projects that are building their own metaverse, with Decentraland being one of the most well-known projects.
Decentraland has become extremely popular in a short period of time and is now one of the largest crypto projects in the crypto market. Because Facebook has made plans for Meta worldwide, there was a real hype around metaverse projects. Decentraland is a well-known example of this, where the value of coin van Decentraland (MANA) and the NFTs went sky high.
This appreciation in value is not seen by many investors as a one-off bubble. The metaverse is the virtual world of the future, which more and more large parties are seriously working on. For example, Samsung and Atari have invested in an estate on Decentraland and Tommy Hilfiger and Dolce & Gabbana are part of Decentraland’s fashion week.
In this article, you can discover 10 different ways how you can earn money on or with Decentraland. Within these 10 tips, various options and examples are given, so that you can gain even more inspiration and start earning money in the metaverse!
If you want to know more about the Decentraland project, you can find a full explanation of the project via this link.
1. Real estate NFTs
The metaverse of Decentraland is made up of an enormous number of pieces of real estate, which are traded as NFTs. If you are good at trading the crypto market, real estate NFT trading could be for you. The estate pieces on Decentraland are relatively pricey, making this option for those with a large crypto portfolio. Right now, Decentraland’s cheapest piece of land is well over $3,000 (2.8ETH) on OpenSea.
Buying real estate in the metaverse is often compared to buying real estate in Manhattan around the turn of the twentieth century. Back then you could buy relatively cheap real estate, while these objects are worth millions of dollars today. Real estate is a scarce asset that you cannot simply print. This also applies to real estate in Decentraland. In addition to buying and selling, you can also rent out the land. This also generates income!
2. Trading MANA
In addition to trading NFTs on Decentraland, you can also trade with Decentraland’s coin. MANA is the coin of Decentraland, which you can use as a speculative tool. You can use different strategies for this, but it is important that you first have your ideal strategy in mind. Below we will walk you through some methods.
The easiest way is to HODL MANA, where you buy at the right time and hold it for the long term. If you want to continue investing in the project on a structural basis, you can continue to invest in MANA using the DCA method. DCA stands for Dollar Cost Average, whereby through periodic investments you arrive at an average purchase price, which is often relatively low. An additional advantage is that you are less emotionally involved in the investment and therefore less likely to act emotionally.
For the more active speculator, it is also possible to swing or day trade.
MANA can be traded at most major exchanges, making it easy to buy the coin.
Daytrading is often for experienced traders, who can trade quickly and have a lot of knowledge of price action and market structures. Swing trading is intended to catch the larger price movements so that you have to deal less with the volatility of the volatile crypto market and therefore run less risk.
Many people see the crypto market as a way to stop working. However, this cannot be achieved easily and most investors will therefore continue to work. Several jobs are possible within the Decentraland metaverse. For example, you can work as a host at a virtual casino or work as a promoter for various projects. Just like in the offline world, in the metaverse, you can also get promoted and earn more.
In addition, the estates on Decentraland must be furnished in order to attract the attention of the public. It can be difficult to stand out among the thousands of pieces of estate, where the layout of the estate can play an important role. You can take this activity as a full-time job, but you can also hop from job to job as a freelancer. You can find more information about this in tip 9.
4. Play-to-Earn Gaming
In the metaverse of Decentraland, you can play or design various minigames and earn money from them. In addition to money, it is also possible to earn NFTs and wearables, which you can then sell on the marketplace. In the various Decentraland casinos, you can play popular games such as poker, roulette, and blackjack. Of course, taking a gamble is not a way to structurally earn a stable income, so this way is more recommended for entertainment.
If you want to get started as a developer, you can also design your own minigames. With the Software Development Kit from Decentraland, you can create your own games as a developer. As a landowner, if you offer certain games on your estate, this will also increase the value of your estate! You will not only earn from the games, but also from the appreciation of your real estate.
5. Designing NFT projects
There are projects within Decentraland that require you to have an NFT to join the community. You can also start something like this yourself or get started as an NFT designer for others. If this sounds like something to you, it is advisable to work out a good idea that is in high demand. Good market research is of great importance here, which is at least as important as the NFT itself. After all, there must be a large demand from a certain target group that will be interested in the NFTs.
An NFT as a means of access is an example of the actual usefulness of the unique tokens. However, there are several situations where these non-fungible tokens can be used. For example, the in-game garments and other appearances are also available as NFT.
6. Designing Wearables
People can customize the in-game outfit of someone in the metaverse, to make the virtual experience even more personal. In order to have the right outfit, it will have to be present in the metaverse. By making wearables for people, you can take the metaverse one step further and make money from it.
To make a lot of money with this way of earning money, you will probably have to do a lot of marketing. This way of making money can be very lucrative, but you have to have buying customers. Promotion in and outside Decentraland is therefore very important.
Another important point when designing wearables in Decentraland is the entry price. If you want to offer your wearable for sale, you will first have to invest 500 MANA. This amount applies per item of clothing.
7. Virtual tour guide
The ever-increasing adoption of the metaverse is partly due to the various companies and celebrities who have collaborations with metaverses or who buy real estate themselves. Celebrities often have an attractive effect on people, which you as a virtual tour guide can respond to. People can pay a certain amount to follow your tour through the metaverse.
This way of making money in the metaverse is also very well known outside the metaverse. For example, there are several companies that make whole trips through the streets of Hollywood with their coaches, where people can discover the homes of celebrities and maybe even meet celebrities.
8. Hosting events
This way of making money is very abstract and can be done in many different ways. However, the core of hosting events remains the same. You organize something and ask for money from the person who uses it. For example, as the image below shows, you can start a yoga class!
Another example is setting up a treasure hunt. People can participate for a small amount and look for the treasure. The participant who finds the relevant treasure will receive the main prize. Besides organizing an event like this, you can of course also participate in it yourself. However, this is not a stable way to make money.
Just like in real life, you can offer your skills in the metaverse of Decentraland. For example, as a freelancer, you can perform jobs for other players. There is a lot of demand for freelancers who have the right skills. Examples include designing 3D models, coding, creating videos or NFT collections, and marketing.
Decentraland’s Discord even has a separate channel (#hiring), where clients and contractors can find each other. In this way, you can help build the technology of the future, while you can make it your job!
10. Content creator
You can also make full use of your creativity outside of Decentraland. You can create content about everything in and around Decentraland in different ways. The world of Decentraland is very large and there is a lot happening, so you will never run out of ideas for content. About the current world, but also the past and future plans; there is plenty to write or film about this metaverse.
In addition, there are countless platforms where you can display your content, as Decentraland itself does. This metaverse, for example, has its own Discord channel and Twitter account. In addition to these social media channels, you can also use platforms such as Medium, Facebook, YouTube, Twitch, Instagram, and Tiktok, or create your own website. You can generate income through your content in various ways, which even become passive over time!
The metaverse of Decentraland is the result of new developments, such as virtual reality and blockchain. The metaverse has become a reality but is still at the beginning of development. The metaverse is becoming more widely known to the general public, but it still has a long way to go.
Not only is the popularity of the metaverse increasing, but also the token of Decentraland is very popular. MANA is an important means of payment within the ecosystem, but also a speculative means, which is frequently used by many investors.
All 10 tips can be easily used to earn money with Decentraland. It is important that you first put a lot of effort into the metaverse and the right skills. If you want to create content, you will have to know how best to do this and know all the ins and outs of Decentraland. You must also make time for developing these skills for events, NFT-related activities, and trading within and outside the virtual world.
These opportunities to earn money can also be applied to other metaverses. At NFThotShot we have several articles about other metaverse projects, where you can also apply the 10 tips! Below you can find several examples of this: