Making Money Off the Metaverse

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Recently I was approached by an entrepreneur who wanted me to work with him to expand and monetize my comprehensive list of social VR platforms and virtual worlds. I told him I would think about it and get back to him in a couple of weeks. I also was told by social VR researcher and consultant Jessica Outlaw that she used and appreciated my comparison chart of the 12 most popular social VR platforms (which I do need to update soon). This has made me realize that I am one of the few people out there who are actively compiling this sort of information about social virtual reality, and that people are finding it useful.

I think what I will do (rather than throw my lot in with the entrepreneur and try to make money off my labour) is try to work something up for publication in a research journal instead. Working for a university, I tend to have more of an academic than an entrepreneurial bent anyways. Then I could add it to my résumé for the next time I apply for a promotion at work (assuming I do so before I decide to retire).

Which beings me to today’s topic: people making money off the metaverse. I’m actually already making a little money in two ways:

1. serving advertising from WordPress’ WordAds and Google’s AdSense on my blog (which brings in anywhere from $5 to $35 per month);
2. my Patreon page (currently bringing in $13 a month from 7 supporters—thank you!).

This money earned goes toward my blog hosting costs with WordPress (I have their Business plan at $33 a month, billed annually). Every little bit helps!

Other people are generating income by creating content for the metaverse: mesh buildings, trees, and furniture, avatar clothing and attachments, animations, etc. In fact, some Second Life content creators actually are able to make a decent living wage from their work (but they are definitely in the minority; most creators earn only a secondary income from SL, and some do it just for the creative outlet).

I’ve heard that some people are making good money creating and selling custom avatars for VRChat, but I’m not certain that anyone is making a full-time living at it.

A few people like Bernhard Drax (a.k.a Draxtor Despres) have been able to parlay their video-making work into a lucrative side hustle, working for companies such as Linden Lab to help promote their products. Strawberry Singh, who is well-known for her pictures and videos of Second Life, even landed up getting hired by Linden Lab! And who’s to say that what happened to Drax and Berry can’t happen to you, too?

While I seriously doubt that anybody is making a living wage off the various social VR platforms so far (except for the people working for companies creating the platforms, like High Fidelity and Linden Lab), we can expect that at some point in the future, individual entrepreneurs will generate a good income from social VR. The big questions are where and when it will happen, not if. Many people are waiting on the sidelines, honing their skills and biding their time, to see which social VR platforms will take off in popularity. There’s no sense dumping a lot of time and money into a platform if nobody’s using it.

What do you think of all this? Do you think that we are still years away from people earning a living off the metaverse? Feel free to share your opinions in the comments section, or better yet, join the RyanSchultz.com Discord server, the first cross-worlds Discord where people discuss and debate the issues surrounding social VR and virtual worlds. We’d love to have you with us!

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