As gaming lovers, we all have, at one point in our lives, considered making this hobby a proper source of income. After all, what’s better than making money by doing something you love?
Thanks to modern platforms, making money through gaming skills has become a lot easier. People from around the world are making millions of dollars by simply gaming online or doing something related to it.
If you’re not aware of any basic way of monetizing gaming skills, this guide is going to be helpful for you.
Here, I’ll explain how you can start making money from this hobby comprehensively. Let’s start.
Understanding Monetization in Online Gaming
Before I begin discussing the ways to make money through this passion, it is important to understand monetization in online gaming. Monetization, in general, is the process of converting something into money.
When it comes to online gaming, it’s converting viewership, content, and other relevant things into an earning source. For example, a gaming streamer monetizes gaming through viewership on platforms like Twitch and YouTube. On the other hand, a general content creator might post on other social platforms and run ads in order to generate revenue.
So, monetization in this field is very vast. It is up to the person which method he wants to use to make money from this unique and interesting skill. For example, if his skill is competitive, he can join and win eSports tournaments to make money.
Methods of Monetizing Gaming Skills
There are some promising methods that you should consider using.
I’ve given their details below:
Streaming:
When we talk about game streaming, big names like Ninja and Kai Cenat come to mind. Why? Because they’ve made a huge fortune out of streaming. It is one of the most common ways to convert your skills into an income stream in this modern world.
Streaming has become incredibly simple with the introduction and growth of websites such as YouTube. All you have to do is register an account and begin streaming in accordance with the platform’s rules.
After reaching a certain level of viewership, your channel/stream will be monetized and you’ll start earning.
eSports Competitions:
For competitive gamers, the best way to earn money is via eSports competition. It is a huge industry and competitions take place almost all around the world. They have a prize for top players which is usually in the form of cash. For example, The FC Pro World Championship of last year had a $1 million prize pool.
It’s a huge sum if you’re competitive enough to earn a top place. This was an example of a global competition. Many local tournaments also take place in almost every country which gives earning opportunities to local players.
Game Coaching:
Being a gaming coach and earning money through it might sound like a very far-fetched idea. But it’s now becoming a normal way of monetizing your gaming skills. Gaming is a fun and easy activity and almost everyone can do it. Gaming coaches share their experience and online gaming tips to help beginners become experts.
However, when it comes to being competitive, players need to understand different strategies and tactics. So, they hire coaches in order to learn from them. You can offer this service as an experienced player on different platforms like Gamer Sensei and even Fiverr.
In-Game Trading:
In-game trading is a creative way to make a living through gaming. It involves buying, selling, or trading different game items like skins and weapons. There are many games such as CS:GO that allow players to make these trades and earn money through it. If you have a proper network and communication with players around the world, you can use it to make money through in-game item trading.
General social media content creation:
Creating general content on social media platforms is also helpful for making money through gaming. Many social sites like Instagram and Facebook offer monetization opportunities for content creators.
You can utilize this opportunity and create gaming-related content. Make it engaging enough to get more reach in order to make more revenue.
How to Monetize Online Gaming Skills?
monetizing these skills is a work of art. You have to analyze and approach it carefully to get the best results. I’ve given guidelines about it below:
Step 1 – Set a goal:
Just like with everything else, setting a goal is important in this field as well. You need to be sure of what you want to achieve when it comes to monetizing these skills. Do you want to make it full-time? Or simply need an extra income stream? Understanding such things helps gamers stay focused and determined to successfully monetize their skills.
Step 2 – Pick a method:
Now, you need to pick a method for monetization. I’ve already given a comprehensive overview of different methods. It could be streaming, joining tournaments, or selling items. You need to pick the one that suits the best and aligns with the set goals.
Step 3 – Start working:
Now, according to the chosen method, start working in order to make money. The type of work you need to do depends on the chosen method. The following guidelines will help you understand it better:
- Streaming: Start streaming regularly and make your gameplay thrilling and engaging.
- eSports competition: Train well and understand game strategies to defeat the opponent.
- Game coaching: Advertise your skills and optimize your profile on multiple platforms.
- In-game trading: Reach out to people who want to buy or sell items. Then, make trades in order to make a profit.
- Social media content creation: Create engaging and interesting content to attract an audience.
Step 4 – Track progress and make changes:
Once you start working, keep on tracking the progress. See if your applied strategies are working properly or not. It will help you understand both weak and strong points. Then, make changes in the strategies if required in order to get better results.
Conclusion
Monetizing gaming skills has become a major way of making money these days. It helps people make a living by doing what they love. The introduction of online platforms has made everything easier for people.
They simply need to pick a method and then start working on it. It’s important to keep in mind that proper struggle and hard work are required to make this all work. So, stay persistent and determined to succeed.
Frequently Asked Questions (FAQs)
What is the best way to monetize gaming skills?
It depends on your preference and skill type. However, streaming on online platforms is a great way to make money no matter what type of gaming skill you have.
Is it possible to make a gaming coaching gig on Fiverr?
Yes. Fiverr allows people to make gaming coaching gigs so that people can make money from it.
Is in-game trading legal?
Yes. Many games have made in-game trading legal. They allow people to buy and sell items in order to make the game more engaging and convenient to play.