Rapid tech growth within the last decade has brought many awesome new opportunities that can help you earn passive income online or offline.
What are the new passive income ideas and opportunities? There are many emerging passive income opportunities. Most of these are online-based and include gaming (live streaming), cryptocurrency, chatbots, and print-on-demand. Offline ideas include 3D Printing and renting your home to film crews. You can make passive income from these new opportunities if set up correctly.
In this guide, we look at some of the brand new passive income opportunities and how you can turn each one of them into a source of passive income. Like most passive income ideas, running any business takes time and effort before you can enjoy a return on investment. Click on the orange button to learn more about the idea you are interested in on each dedicated guide on our site. Let’s jump in.
Chatbots are the future of customer service and can easily be monetized for passive income. These highly interactive computer programs are becoming very popular for businesses looking to have a more automated customer relationship. Facebook messenger hit more than 100 000 bots in 2017 (source). This was only a few years after Facebook allowed developers to use bots in its Messenger application. You do not have to be a programmer to create them, we demo how to create one below:
Demand for chatbots is very high and there are many ways to monetize them. You can use them to advertise, generate leads, promote sales, interact with your customers, for affiliate marketing and more.
Learn More About Chatbots in Our Guide
2. Print on Demand
People are making money online by selling Print-on-Demand merch. Custom t-shirt printing is expected to reach $10 billion by 2025 (source). Print-on-demand platforms including Printful allows you to create and sell customized products. With t-shirts, bags, hats, mugs, and cell-phone cases, you can customize hundreds of products. They handle fulfillment, billing, and shipping allowing you to make money more passively.
Getting started is easy, all you need to do is to open an account, upload your design, place it on a product, and promote it to your audience. This passive income idea is excellent for anyone who already has an audience like influencers, YouTubers, musicians and more.
Learn More About Print-on-Demand in Our Guide
The gaming sector has been growing consistently over the years. Video games are becoming more popular nowadays as more platforms emerge and new game developers attempt to join the market. In 2018, the average spending on video games in the US was $43.4 Billion (source). Most people play games from their smartphones, Pc’s and gaming consoles including the PlayStation and X box (source).
Becoming a professional gamer requires a lot of commitment and a bit of skill. You must be able to attract an audience online. Popular sites like YouTube and Twitch offer live streaming for gamers to showcase their skills. Gaming can make passive income from monetization. For example, you can earn from ads, affiliate marketing, e-commerce, and print-on-demand. Creating an audience and building a community is the most challenging bit for most gamers. We explain how a well-known YouTuber did this on her channel here. Once you have a sizeable following you can earn more passively. Gaming has a very low startup cost and is very ideal for beginners. Check out this guide for some more detailed information on gaming.
Learn More About Gaming in Our Guide
4. 3D Printing
3D printing an emerging trend in today’s industries that can also be monetized for passive income. Many people view the growth of 3D printing technology as a cheaper alternative to producing complex designs. The 3D printing sector has doubled in value in recent years, by 2020 the sector expects to surpass $3 Billion (source). Of course, that includes industrial 3D printers, but you can use a home-based 3D printer to make money.
We show how to make $1,000 from passive income from taking part in 3D printing projects. This includes selling popular, easy to ship items, leasing your printer, offering training, or selling models. Sites like Thingiverse have made it very easy for beginners to just download models and print them from a 3D printer. You can also choose to design your own prints on platforms such as Shapeways, though this may require some graphic design skills. 3D printing can be fairly expensive since a good printer can be well over $1,000. The investment is higher so make sure you are comfortable with that before giving it a try. Check out this guide for more ways on how you can make money from 3D printing.
Learn More About 3D Printing in Our Guide
5. Renting Your Home to Film Crews
Movie film crews are actively looking for places to shoot some of their scenes. You can make a lot of money by renting your home to film crews. The California Film Commission and other State-based institutions have shown continued support to this emerging trend. You can make a good income by allowing people to shoot films in your house.
Popular platforms facilitating this include Setscouter which allows homeowners to list their homes for free. You can also rent your home for commercials, music videos, and other branded content. Some productions offer insurance for the minor damage that may incur. Renting out your home to film crews is a very passive means of making money. You only need to have a unique home that can be suited to a movie or commercial.
Learn More About Renting Your Home to Film Crews in Our Guide
Cryptocurrency is an emerging financial trend that is still veiled in mystery. However, hundreds of people in the US, UK, and Turkey have already adopted its use, and cryptocurrency is more than likely here to stay source. Although it is still not widely accepted globally and is even banned in some countries, the growth of cryptocurrency has been steady in the last few years. The sector picked up after the famous market crash of 2018 (source).
Some of the most popular cryptocurrencies include Bitcoin, Ethereum, Ripple, Litecoin and others. You can choose to buy currencies on online platforms such as Coinbase. Some may also accumulate crypto by mining small amounts from sites that are promoting crypto. Cryptocurrency is moderately passive and can be very expensive to mine. You should carry out in-depth research before deciding to invest. Check out our guide for some more information on what Cryptocurrency is, and some of the ways that you can make passive income from it.
Learn More About Cryptocurrency in Our Guide
How can I make a passive income in 2020? There are many new emerging passive income opportunities that are accessible even to beginners thanks to new technologies. Most of these are online-based and include gaming (live streaming), cryptocurrency, chatbots, and print-on-demand. You can make passive income from these new opportunities if set up correctly.
What are some of the most common passive income methods? The most common passive income ideas have to do with investing, such as Real Estate, stocks, and bonds. However, new passive income ideas include blogging, affiliate marketing, eCommerce, Print-on-Demand, drop-shipping, chatbots, flipping domain names, podcasting, digital courses, eBooks and more! If setup correctly, these ideas can provide a passive income stream.
Which is the best source of passive income? Your choice of how to make passive income will depend on your centers of interest, skills, capital, and niche choice. Some passive income streams may require more money than others for start-up while others may require more attention. Whatever choice you make creating a sustainable passive income stream requires consistency, hard work, and skill.