The Metaverse is becoming an interesting topic and I am going to show you a beginner’s guide on how to make passive income in the metaverse.
There are several ways you can make money online, ranging from investment, Affiliate Marketing, Freelancing among others. However, It’s good to know that you can also make money from the Metaverse.
Before I go right onto making passive income in the Metaverse, What’s exactly in the Metaverse all about?
What Is The Metaverse
The “metaverse” is a collection of virtual spaces where you may collaborate and create with others who aren’t physically there with you.
According to Facebook, In the Metaverse “You’ll be able to hang out with friends, work, play, learn, shop, create, and more. It’s not necessarily about spending more time online — it’s about making the time you do spend online more meaningful.”
What’s the origin of the Metaverse? The term “metaverse” was first used in Neal Stephenson’s iconic cyberpunk book Snow Crash, published in 1992.
In the book, the Metaverse is a shared “imaginary place” that’s “made available to the public over the worldwide fiber-optics network” and projected onto virtual reality goggles.
In it, developers can “build buildings, parks, signs, as well as things that do not exist in Reality, such as vast hovering overhead light shows, special neighborhoods where the rules of three-dimensional spacetime are ignored, and free-combat zones where people can go to hunt and kill each other.”
Many individuals believe the Metaverse already exists in games. But how true is this?
Fortnite: Some parts of the metaverse can be found in Fortnite, a multiplayer online shooting game that may be played on computers, consoles, and mobile devices.
The average Fortnite user spends hundreds of hours in the game, creating their own avatar and battling and engaging with other players’ avatars.
Players may also earn virtual cash, which they can use to buy clothing and other accessories for their avatars.
Second Life: Another one is Second Life, a nearly two-decade-old online social network where users built digital versions of themselves to connect with others, founded by Linden Lab.
Making Money In The Metaverse
There are several ways you can make passive income from the Metaverse and I am going to talk about a few of them.
Pressing On, Virtual land has become quite popular in the 3D digital world, and the market is very comparable to real-world real estate.
A plot of virtual real estate represented by a non-fungible token is known as NFT metaverse land. The owner can utilize their property for socializing, advertising, work, gaming, and other purposes depending on the platform.
You can also use the spaces to host events, conferences, and even rent advertising space if the land gets enough traffic. This will definitely bring lots of money.
Some businesses, such as PwC, have incorporated their land into their services. It’s probable that if you buy land from an NFT game, you’ll get in-game advantages from the plot.
According to investors and analytics businesses, sales of Metaverse Real Estate reached $500 million last year and might treble this year.
According to MetaMetric Solutions, real estate transactions on the four major metaverse platforms totaled $501 million in 2021. According to the metaverse data source, sales in January exceeded $85 million.
Sales might reach over $1 billion in 2022 if sales continue at this rate.
In the Metaverse, You may invest in real estate and then rent it out to individuals or organizations.
With more businesses participating in the Metaverse, becoming a commercial landlord may be quite advantageous. Renting out a facility, charging entry fees, or selling advertising space are all options.
Furthermore, owning a virtual property might be a long-term investment with a growing value.