making money in the Decentraland

6 Ways to Make Money in Decentraland

The Metaverse is the next big tech project of the ages, meant to build a fully digital world that exists beyond the one in which we live. Meanwhile, the building blocks of this virtual world are still engineered by tech giants, the final stage of the Metaverse project will be to build the next evolution of the internet experience.

But while the tech is still in its early stages, in this article we’ll look at how you can utilize existing technologies of the Metaverse and make some real money for yourself!

What is Decentraland?

Decentraland is a platform enabling users to be a part of a shared virtual world. And to do so, it has created an entire virtual ecosystem on its platform where users can buy or sell digital property, play games, exchange collectibles, socialize, interact and explore.

How can you enter Decentraland?

Decentraland character
My Avatar in Decentraland

In order to get started, go to Decentraland and simply click on Get Started.

You’ll get two options.

  • Play as a Guest: Simply click on play on the right side that says guest. You’ll need to download the game and install it on your Mac or PC. This gives you an opportunity to create and design a custom avatar and use it to wonder around and discover places, interact with other characters and see price tags of NFTs. But it is limited to that. If you want to get anywhere, you’d need a wallet.
  • Play using your Wallet: Decentraland is using the Ethereum blockchain to record the ownership of all digital assets and tradable items. This gives you a chance to explore the platform even better and actually start making money.

Decentraland’s active user base of roughly 800,000 registered profiles is estimated to have risen by 3,300% between December 2020 and December 2021. The platform is host to around 6,000 unique players each day, which makes up more than 30% of Decentraland’s daily users. With such growth and active users coming to life, it is becoming more and more evident that Decenraland will be host to a lot of money-making opportunities. Let’s take a look at several ways you can actually start making some serious money.

How to start making money in Decentraland?

In this article, I would like to cover six main ways anyone can start making money in Decentraland. Be aware that since the technology is still at its infancy stage, there could be some risks associated with crypto’s volatility, transfer issues, loss of interest in the Metaverse or Decentraland in general. At the moment risk-reward ratio for early adopters is really high.

But let’s assume you’ve familiarized yourself with the Metaverse. You understand the volatility of new cryptocurrencies and the mining fees associated with their functions. Let’s look at where the money trickles through for early Decentraland users.

Get hired by Decentral Games

decentral games

Decentral Games is the first metaverse employer that gives people the chance to work with their Avatars and interact virtually with other guests and avatars in the metaverse. Instead of building up an AI system for NPC’s, Decentral Games hires people with real-life skills to play the role of an avatar in Decentral Games. And they receive the same salary as an employee.

Job titles you can apply for:

  • Event organizer
  • Community manager
  • casino host

To look for new job opportunities at Decentraland, you can actively search for them here. While there are few jobs on the market to play as an avatar and get paid, there will be more openings as the platform’s userbase grows.

Play-to-Earn Games

Play-to-Earn is a reward system in gives that gives winners different assets as profits for good performance or diligence. Decentraland is popular in this case, as it offers winners various NFTs and avatar wearables. These can be auctioned or sold off for MANA, which is Decentraland’s very own crypto.

Gambling and casinos are also at the heart of Decentraland, where you can play popular casino games and earn MANA, NFTs, and wearables.

Virtual Real Estate management

It’s time to go full real estate broker and bet your money on your next virtual property that will hold your future business where you’ll be able to host various endeavors:

  1. Conferences and hackathons
  2. NFTs
  3. Social Media Accounts
  4. Redirects to your websites, webshops, or landing pages
  5. Virtual product or service display
  6. Hosting virtual meetings

land in Decentraland

 

There are two options for new property buyers. You can make a bid for an existing virtual land with an entire architecture in place and insert your own business into it. Or you can start from rock bottom and purchase your own land and start building from the ground up.

In the latter case, you’d need the expertise of a 3d graphic designer who knows how to create virtual architectures and 3d modeling. Fiverr has several talented individuals to help you out there.

The importance of buying virtual property is to make sure that it will bring significant traffic to your business. There is no point in purchasing land if there are no avatars visiting you or your business has nothing to do with the general audience you’d receive in Decentraland.

Buying property in Decentraland is risky. At the moment, it is better for a company, influencer, or organization to set up a website and have a PPC or SEO campaign do the work. But investors are looking into the future. That is why the most expensive site in Decentraland at the moment costs a whopping $3.5 million. If Decentraland continues to grow as it does now, property values businesses will see their property values skyrocketing.

Buy and Sell NFTs

Adult Butters NFT

Perhaps the most popular way of making money in Decentraland is through the renowned NFTs that everyone talks about. Love it or hate it, NFTs are here to stay and they’ve been sold off for millions. In fact, the most expensive NFT ever sold, went for 91.8 million in December 2. 2021.

Freelancing and Consulting

Becoming a metaverse freelancer who helps consult companies, influencers or metaverse enthusiasts build a virtual business in Decentraland. Since the idea of the metaverse is brand new, having some background knowledge on the aforementioned topics of NFTs, land purchase, crypto management, and online marketing can help you charge large sums of money as a freelancer on Fiverr or Upwork.

For a 3d architecture modeling plan in the metaverse, you can expect to charge between $90 to $500. This depends on the platform that you’re using to engineer the architecture of the digital estate. This can be unreal engine or unity.

For a 3d fashion NFT cloth or wearable for an avatar, you can charge $55 to $400. This also depends on what your NFT is all about. It can be wearable art, NFT collection, NFT promo video, or literally anything.

If you go on Fiverr you’ll be able to see the prices for yourself.

Final Remarks

The Metaverse is a rising star of the online world that is yet to reveal itself to the general public. But having the full-scale impact of the metaverse might be years away. For the time being platforms like Decentraland and The Sandbox are at the forefront of this next-gen digital revolution.

While they are mostly dedicated to gaming and entertainment, the rapid growth of the platform will stir prices up, making many purchases more valuable. There is of course plenty of risks involved. But with tech giants throwing billions of dollars into the metaverse, there is a strong possibility that it will affect our future more, making early adopters the leaders of the industry just like with the early days of crypto!

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