Six Ways You Can Make Money in the Video Game Industry
People are looking into gaming as a hobby more than ever before. The gaming industry is one of the most rapidly growing industries globally. It’s estimated to have reached a staggering $190 billion in 2021 and is expected to grow to $300 billion in the coming years. Moreover, this is increasing the current net worth of the industry.
Video games are more popular than ever, with people of all ages playing games on various platforms, including personal computers, consoles, mobile devices, and virtual reality systems. The popularity of gaming has led to the rise of professional gaming leagues and competitive tournaments with large cash prizes.
The industry is also growing when it comes to careers. As a result, there are now more opportunities than ever to make a living in the video game industry. Here are six ways you can make money in the video game industry.
Create and Sell Mods
Creating and selling mods is one of the most popular ways to make money in the gaming industry. Mods are user-created additions or changes to a game, ranging from small tweaks to new levels, characters, and gameplay features.
There are several ways to monetize mods. The most common is to sell them on platforms like the Steam Workshop, which takes a cut of the mod’s sales price. You can also bundle mods together and sell them as a package or set up a Patreon account to fund your modding projects.
Currently, the most robust option is Patreon. This is where you can have the most control over the mods you make while also interacting with your community.
With the rise of professional gaming, there are several ways to make money as a professional player. The most common is through winnings from tournaments and leagues. The top prize pools in the world can reach millions of dollars, with the winner taking home a large chunk of that. For example, the DOTA 2 prize pool has reached $40 million, making it one of the coveted championship titles to win in the industry.
Players can also earn income from sponsorships and streaming. Many top players have sponsors who provide them with the necessary equipment and gear to compete. In return, the player promotes the sponsor’s brand. Players can also make money by streaming their gameplay on platforms like Twitch, which generates income from advertisements and donations.
If you want to earn money from playing games but don’t want to be necessarily good at them, you can be a game influencer. A game influencer has a large following on social media platforms like YouTube and Twitch. They play games and provide commentary for their viewers.
Building a large and engaged audience is key to being a successful game influencer. You must be entertaining and produce high-quality content that people want to watch. You can do this through a gaming laptop. You can also make money through sponsorships and donations. The best part is that you don’t need the most advanced gaming rig for this. Becoming a streamer requires very little investment, so try it out.
Making Game Assets
If you’re creative and have an eye for design, you can make money in the gaming industry by creating game assets. This can include anything from concept art and 3D models to characters and environment designs.
There are several ways to sell your game assets. Online marketplaces like the Unity Asset Store and Unreal Engine Marketplace are the most common. You can also sell your purchases directly to game developers or publishers.
Indie Game developer
If you’re interested in making your games, you can be an indie game developer. Indie game developers are individuals or small teams who create self-publish video games.
The great thing about being an indie game developer is that you have complete creative control over your projects. You can also make a good amount of money if your game is successful. The downside is that it can be a lot of work, and you may not always see the monetary rewards for your efforts.
Investing in the Industry
If you’re not interested in making games yourself, you can still make money in the gaming industry by investing in it. This can be done by buying stocks in in-game companies or investing in new and upcoming projects.
You can also invest in the industry by supporting small developers and studios. You can do this through crowdfunding platforms like Kickstarter and IndieGoGo.
There are several ways to make money in the gaming industry. Which one you choose will depend on your skill set and interests. But it’s one of the industries with a low bar for someone wanting to start a business or career out of it. So make sure to try these options out.