Virtual reality (VR) is not only a fun and immersive way to experience entertainment, fitness, self improvement and education, but also a potential source of income for those who are passionate about it. In this blog post, I will share with you 5 ways you can make money with VR, ranging from getting a job in the VR industry to creating your own VR content.
Table of Contents
Video Guide on How to make money with VR
1) Get a job in the VR industry
If you have skills and passion for VR, you can apply for a job in one of the many companies that are developing VR hardware, software or content. These companies need people with various talents and interests, such as developers, designers, customer support, marketers, salespeople, accountants and more. You can find VR jobs on platforms like Linkedin by using keywords like VR, AR or XR. However, don’t limit yourself to only dedicated VR companies. Many other businesses now use or partner with AR/VR technologies to offer innovative solutions to their customers.
For example, I work for an indoor mapping company that digitizes floor plans and PDF maps of complex indoor environments like stadiums or universities. We partner with Google Maps, Matterport and indoor positioning software to enable our clients to build AR or VR wayfinding experiences on top of our maps. This way, I get to talk to smart people about cool XR mapping projects every day.
2) Creating Content around VR
If you are passionate about VR and want to share your experiences with others, you might consider creating content for VR. This can be a fun and rewarding way to express yourself, connect with other VR enthusiasts, and even earn some money.
There are many types of content you can create for VR, depending on your skills, interests and goals.
What VR content should you make?
- VR game reviews: You can give your honest opinion about the latest VR games, what you liked and disliked, how immersive they were, and whether they are worth buying or not.
- Mixed reality gameplay: You can show off your skills and reactions in VR games by recording yourself playing in mixed reality, where your real body is superimposed on the virtual environment.
- Tech and headset reviews: You can compare and contrast different VR headsets and accessories, how they perform, how comfortable they are, and what features they have.
- Video essays about the industry: You can analyze and discuss various topics related to VR, such as its history, its future, its impact on society, its ethical issues, its challenges and opportunities, etc.
- VR game development: You can share your journey and tips on how to create your own VR games, what tools and platforms you use, what problems you encounter, and what results you achieve.
- VR news and round ups: You can keep your audience updated on the latest news and trends in VR, such as new releases, updates, events, awards, etc.
- 360 videos: You can capture and edit 360-degree videos of real or virtual places, and let your viewers explore them in VR.
- VR real estate: You can showcase and sell properties in VR, using photorealistic 3D models or 360-degree tours.
- VR learning: You can teach or learn anything in VR, using interactive simulations, virtual classrooms, or educational games.
The possibilities are endless, and you can always find your own niche and style. The best way to find out what kind of content you want to create is to look at what you enjoy watching or reading yourself. What kind of VR content do you find informative, entertaining, or inspiring? How can you add your own voice and perspective to it?
Monetizing VR content
One of the most common ways to make money from content creation is through ad revenue. This means that you get paid a small amount every time someone views or clicks on an ad that is displayed on your content. However, this is not easy to achieve, as you need to meet certain requirements and thresholds to be eligible for monetization. For example, on YouTube, you need to have at least 1,000 subscribers and 4,000 watch hours in the past 12 months to join the YouTube Partner Program.
Another challenge is that gaming-related content tends to have a low RPM (revenue per thousand views) compared to other niches. This means that you need a lot of views to make a decent amount of money from ads.
One way to supplement your income from ads is through affiliate marketing. This means that you promote a product or service that is relevant to your content, and you get a commission every time someone buys it through your link. For example, if you have done a detailed review of the PSVR 2 headset, you can include an Amazon affiliate link in your description or blog post, so that people who are interested can buy it from there.
However, affiliate marketing should not be your primary motivation for creating content. You should only recommend products or services that you genuinely like and use yourself, and that provide value to your audience. Otherwise, you might lose their trust and respect.
Creating content for VR is not a get-rich-quick scheme. It takes a lot of time, effort, creativity, and patience to build an audience and a brand. But if you are passionate about VR and have something unique to offer, it can be a rewarding hobby or even a career.
3) Create your own VR games and apps
You don’t need to be a professional programmer or have a degree in computer science to make your own VR experiences. There are many tools and platforms that can help you turn your ideas into reality, such as Unity, Unreal Engine, Scratch or Roblox.
However, VR development is not a walk in the park. It requires a lot of creativity, problem-solving and perseverance. You will also need to learn about game design, user interface, interaction, physics, sound, graphics and more.
One of the best ways to learn is by following online tutorials and courses from experts in the field. For example, I recommend checking out https://www.youtube.com/@ValemTutorials, a YouTube channel that teaches you how to make VR games using Unity. He covers everything from the basics to advanced topics and provides you with starter templates and assets.
Another great feature that Unity offers is its AI-assisted creation tool, which can help you with coding, debugging and generating 3D models. This can save you a lot of time and effort and allow you to focus more on the gameplay and design aspects.
The best part about making your own VR games and apps is that you can choose any genre or theme that interests you and your potential users. You can make games for fun, education, health, fitness, socializing or anything else that you can imagine.
You can also monetize your games and apps by selling them on various platforms like Steam, Oculus Store or Pico. You can also use other methods like in-app purchases, ads or subscriptions to generate revenue from your creations. You can learn more on how to
4) Create user-generated content for VR platforms
If you don’t have the skills or the time to develop your own VR game or app, you can still create amazing experiences for other users on platforms like VRChat or Horizon Worlds. These platforms allow you to create your own avatars, worlds, items or events using tools like Blender, Sketchfab or Quill. You can then monetize your user-generated content by selling it on the platform’s marketplace or asking for tips or donations from your fans. For example, VRChat has recently launched its beta version of its creator economy system, which lets you earn money from your creations.
Creating user-generated content can also help you build your portfolio and network with other VR enthusiasts and professionals. You can join communities or discord groups that share your interests and passions in VR modding or avatar and world creation. This can be a great way to learn new skills, get feedback and collaborate with others.
5) Invest in VR stocks
Now, before I go any further, I have to warn you that this is not financial advice and that investing in the stock market involves risks. You should only invest money that you can afford to lose and do your own research before making any decisions. That being said, if you have some spare cash and a keen eye for trends, you can invest in some of the companies that are leading the VR industry. Warren Buffett once said that you should invest in things that you have an unfair advantage in. So if you’re using VR every day and have experience with some of the tools and platforms that are powering VR, you might have more insight than the average investor. Some of the companies that are involved in VR include Apple, Meta, Matterport and Unity, to name a few. You can use a low-cost brokerage like IBKR (remember these affiliate links from earlier!) to buy shares of these companies and hope that they will increase in value over time.
If this sounds like you then check out our 7 best VR stocks to buy.