List of Business Ideas That You Can Start in the Metaverse

The idea of the Metaverse is not new, but it gained popularity thanks to the gaming Metaverses and Facebook’s announcement of building its own virtual world. Although many are skeptical about this idea, it’s impossible not to take into account that many big brands and tech giants are investing in it. And remember that many people were skeptical about the internet’s existence, predicting that it would soon be a dead term.

If you are interested in Metaverse and want to use its potential or think it’s a good idea to invest in it, you will find a complete list of Metaverse business ideas below.

1. Metaverse Land

Many big investment companies spend a lot of money buying digital lands on popular Metaverse platforms, and nearly $2bn (£1.75bn) has been spent. What is the purpose of it? Later, the investors can sell it at higher prices or construct buildings that can be sold or rented. 

2. Digital Real Estate

Metaverse real estates are already finished buildings that can profit their owners a lot. Some ideas to earn money from this purchase include:

• Selling it later at higher prices
• Renting it as a house or as an office
• Holding virtual events
• Earning from advertisement billboards
• Leasing the virtual building
• Starting a virtual hotel, café, or restaurant.

3. Metaverse Hotels, Cafés and Restaurants

Although for some people it may sound crazy, it’s a real possibility to start a virtual hotel where people can rest, a café that friends can visit and enjoy their time, nightclubs for relaxing and enjoying great music, or restaurants for fine dining.

Still, think it’s not possible? You can check the first Metaverse cafés established in the UAE or Guangzhou. 

4. Metaverse Gaming

If you already know what the Metaverse is, it’s probably because of VR games like Axie Infinity, Sandbox, Decentraland, etc. These are not only video games but also complex Metaverse worlds. If you have enough budget, you can create your own game or gaming platform, if not, you can always buy and sell gaming accessories and NFTs.

5. Virtual Shops

You can open a virtual shop and sell clothes or accessories for Metaverse avatars. You can create your design or just be a retailer. Aren’t interested in clothing design, you can sell various virtual products, including home furniture, home decor items, flowers, etc.

Some big names already in the Metaverse include Nike, Gucci, Samsung, Hyundai, Coca-Cola, Louis Vuitton, and more.

6. New Payment Methods

We already established that Metaverse is growing daily, and even the most prominent brands are investing in it, but what about the currency and payment methods? It will not be free, so everyone must work and pay for everything, like in everyday life. It’s a great business idea to develop a payment method for the Metaverse.

7. Virtual Events

You can organize virtual events like concerts, invite famous musicians or DJs, and organize weddings, conferences, expos, and other gatherings. For example, Justin Bieber already had a concert in virtual reality, and some people even married there. 

If you are going for a virtual concert or a digital art exposition, remember that you can also buy and sell music and art NFTs in the Metaverse.

8. VR Social Media

As the virtual world offers an opportunity to meet with our friends online, Metaverse may replace social media in the near future or change it completely. If you like thinking ahead, you can invest in creating a Metaverse social media that will be different from the social media channels we know now.

9. VR Architecture Company

There will be a lot of need for digital architectures and designers in the Metaverse to design new buildings, real estate, universities, and offices. A professional company can offer various services, including even designing whole cities and worlds.

10. Digital Marketing and Web Development Agencies

If there is a digital world, it means there must be talented web developers to maintain its smooth performance. Also, other businesses, brands, and product owners in virtual worlds will need marketing services to promote their services and products. So, this is an excellent opportunity to start your first development agency in the Metaverse.

11. VR Hardware

Suppose you are not interested in investing in the virtual world but still want to be as close as possible to it and get updates on its development to hope in when the time comes. In that case, you can invest in VR hardware and create VR headsets and other accessories that people will need to access the Metaverse and fully enjoy its potential.

You can open a retail company if you don’t have enough funds to create needed hardware from scratch.

12. Metaverse Cybersecurity

Keeping everyone safe in the Metaverse, securing private data leakage, or preventing cyber crimes will be very difficult as there aren’t any regulations or laws for that. A trusted cybersecurity company will be needed to take this role and ensure that the virtual environment is safe for everyone.

Conclusion

The digital world is evolving, sometimes swapping the borders between real and virtual realities. In the future, it may change our everyday life and how we encounter others. Is it a good or a bad thing? Only time will show.

But let’s agree it will provide an excellent chance for people ready to grab new opportunities to start the next big tech company. Imagine a new empty replica of our world where you can start a business from scratch and be whoever you want.

Lastly, remember that Metaverse is just in the development stage, and no one knows what the end result will be. But if you watched Netflix’s Black Mirror series, you will remember the episode “San Junipero,” giving you a distinct idea of what virtual reality may look like years later.