Chun Weng makes about $1600 to $1900 every single month in passive income with cryptos, Axie Infinity, YouTube, stocks, and more, while working from home in Malaysia.
No doubt, there are many ways to make money passively but most are probably not very doable. For example, one recommendation is to build courses but it’s very hard to do that if you don’t have the skills at the beginning. Furthermore, most of the time when you’re starting out in your passive income journey, you don’t really have enough skills.
(1) Play-to-Earn Crypto Games
I know it’s gonna sound a bit crazy but Chun Weng makes around $350 to $500 from simply playing games for about two to three hours every day.
How it works is that you’re essentially a part of this digital economy. When you play the game and the more you play — the more you contribute to this digital economy.
There are many such crypto games out there but the most rewarding game is Axie Infinity. Axie Infinity is sort of this crypto “pokemon” game. You use your crypto pokemons to fight other crypto pokemons. The more battles you win, the more SLPs you earn. SLPs can then be converted into FIAT currency which you can use for anything (in reality).
In order to play the game, you have to buy and get an Axie team. An Axie team costs somewhere around $710 to $570, so it’s not cheap at all! If you can’t afford an Axie team, you can actually get an Axie scholarship.
What an Axie scholarship does is that you’ll be loaned Axie teams. You can then play with your Axie teams and earn those SLPs. Then the Axie scholarship will take a percentage of your earnings, usually around 60%. However, doing so, you don’t have to fork out a single cent to earn SLPs and make money in Axie Infinity.
(2) Axie Scholarship Management
Chun Weng makes somewhere around $500 per month from this Axie Scholarship.
This second passive income method is a bit tougher because you need to spend money in order to buy Axie teams before you can send them out as Axie infinity scholarships.
Then to maintain your Axie infinity scholarship, it can be really tough. You’ve to track your scholars’ performances, train them, make sure their accounts are okay, and pay out their payments. If you’ve 10 scholars, it can actually become a bit like a full-time job.
Nevertheless, it is not hard to make around $45 per month from one Axie scholarship team. Assuming that one team makes 65 SLPs daily over 30 days. Then multiply by the average SLP price. Currently SLP is at around 4 cents. Therefore, you’ll be making somewhere around $45, after taking back around 60% from the scholarship recipient.
Multiply that by 10 scholarships and you stand a chance to be making as much as Chun Weng per month.
For some, watching Youtube is a hobby, but for Chun Weng, he loves making personal finance and crypto videos. What’s interesting is that Youtube can not only be a hobby, but it can also be a very good passive income source as well. On average, Chun Weng makes around $200 from Youtube Adsense.
So how hard is it to get started on Youtube? It’s easy to get started but it’s also not as easy as it seems.
It’s easy to just take out your mobile phone and then start filming. It is one thing to just record yourself talking about your favorite anime (girlfriend). It is also another thing to find a good topic that both you and your audience enjoy. The hard part is that you have to find a way to make it interesting as well.
For example, if you like gardening:
- You have to find out the most interesting parts of gardening that a lot of people would like to watch.
- Do your homework about what people really want to watch.
- Find a way to combine that with the latest trend that’s happening currently.
Then, not only do you have to script your videos, you also have to shoot and edit the videos. Then you also have to design the thumbnails. Imagine doing these for many months to come. Yes, it can be very tiring but it will be so worth it.
Then, before you can make any money on Youtube, you’ll first have to hit the advertising requirements of 1,000 subscribers and 4,000 hours of watch time.
It is a unique combination of luck and effort. Most people would hit that number in around six months. For Chun Weng, one of his videos blew up and it took him about three months to hit the requirements.
Stay tuned for more real estate, investment, and home tips