Virtual Reality has actually been around since the 1950’s, yet it’s only in the last decade that companies have started producing headsets en masse for use in the home. Still relatively in its infancy, the Virtual Reality industry could be the biggest shift in how we consume information and entertainment since the smart phone. While it may take longer for this industry to become mainstream than most imagined, there will be no doubt that the early adopters will have the advantage when it comes to making money from it.
At the moment there are a number of ways you can make money from Virtual Reality, starting with the highest barriers to entry down to the lowest:.
Create games – This one may be extremely difficult to pull off as many games are expensive to produce and the market is cornered by the big companies that have deep pockets. It is also a small consumer base limited by the amount of players with VR headsets. These games can be monetised much in the same way apps and software can be – pay to purchase, ad revenue, in app purchases, affiliate programs.
Film Virtual Reality scenes – Much lower costs to set up than creating entire games. There are already companies that create video specifically to be viewed with Virtual Reality headsets. Some of these are on YouTube. If you have the right equipment or software you can start designing your own Virtual Reality scenes. Currently these are relatively short clips but as technology improves there will be whole movies that you can watch or even be involved in through Virtual Reality. You can then get paid through showing ads or selling the footage.
Play Games – Much like with current MMORPG gaming, as virtual reality gaming becomes more popular you will start to see contests emerge with prize pools and the option to make money in game using virtual currency. Another way to make money playing virtual reality games will be to stream game play or upload to Youtube as you can with current games. Basically get really good playing games!
Sell Virtual Reality equipment – Back during the 1849 California Gold Rush there were very few who actually struck it rich mining for gold. The people who made money back then were the people who sold the supplies (shovels, jeans, tents etc) to the prospectors. The same could be said for virtual reality. Most people or even companies won’t have the funds, knowledge or equipment to be able to produce profitable games. If you sell the equipment then as the industry grows so will your income.
Sites to use
Amazon – Purchase virtual reality equipment.
Youtube – Upload gaming footage.
Twitch – Stream your game play.