Just when we’ve gotten used to remote work and online learning, here comes the Metaverse. This marriage of virtual reality and Internet discourse reached the height of mainstream attention when Mark Zuckerberg announced the rebranding of Facebook to Meta and the company’s plan to build the ultimate Metaverse.
Consumers spend more than $8 billion annually on virtual products, and investors are spending millions on undeveloped virtual real estate in digital environments under construction. This whole metaverse movement may seem a little baffling to you, but this emerging technology is presently creating passive income investment opportunities worthy of your attention.
What is the Metaverse?
The popular perception defines the Metaverse as a virtual world that runs parallel to the real world. However, it is more accurate to think of this digital space as an extension of our real world because events in the Metaverse could affect the real world. For example, a group of lenders could meet in a virtual office to determine the approval of your business, or appreciation of your virtual property could increase your net worth.
Although Zuckerberg and others appear to be the pioneers of the Internet evolution, some claim that the virtual gaming industry already flourishes in digital metaverses like Minecraft, Fortnight, and Roblox. Each gaming platform has its own digital infrastructure and economy.
With 3D Avatar Social App IMVU, members can use their avatars to wander through thousands of Virtual Worlds or Metaverse. Like Facebook or Instagram, IMVU members can use their avatars to build a social network with other members’ avatars. Plus, they can use IMVU currency to buy houses, nightclubs, planes, yachts, and any other goods/services. They can even earn money as developers.
However, new high-tech intends to expand the digital world by incorporating mobile devices, personal computers, cloud-connected servers, VR headsets, and 3D holographic avatars. Today, there are many metaverses in existence. Zuckerberg and others like him intend to create one main Metaverse for people to engage in all the activities they do in the brick-and-mortar world. This push toward a more realistic digital world is creating some promising ways for you to earn passive income eventually. Here are some of them.
Virtual Real Estate Trust
Late last year, crypto trading platform PancakeSwap listed MetaSpace Real Estate Investment Trust (MREIT). You can purchase MREIT shares through the PancakeSwap platform. However, before you do, you must convert your money to cryptocurrency from any fiat-to-crypto exchange. MetaSpace’s goal is to acquire, lease, and mint high-traffic virtual property in the Metaverse with the purpose of funneling profits to shareholders in the form of passive income.
However, metaverse investors face the same challenge as cryptocurrency investors. There are many metaverses in the digital divide. So, virtual landlords attempt to benefit from the impending virtual land rush by choosing the Metaverse they believe will rise above the rest. MV REITs are suitable for this type of competition because they have the resources to place significant footprints in all of the top contending metaverses.
Purchase Virtual Property
If you prefer, you can buy virtual property in several metaverses and rent them out later. Gamers on social gaming platforms like Second Life and IMVU have successfully done this for years. For example, Second Life has a virtual Land Store where members can bid in land auctions or have land custom-made for them by the Linden Lab. In addition, you can buy in public regions with vibrant communities or a private area where you control access.
To buy virtual land on these platforms, you must set up an account. Before purchasing a piece of land, you can visit it and check it out. Then, you can buy the land in one click. The costs include an initial fee and ongoing service and maintenance fees.
Try a Commercial Venture
You can build virtual malls, nightclubs, and casinos for a profit-making venture. If you decide to take on such a project, you will have the ability to construct it and formulate the profit strategy. More brands are participating in the Metaverse. As a result, renting out business space, selling advertising space, and charging admission are good passive income possibilities from buying virtual commercial property. Plus, this type of ownership has possible long-term investment benefits of equity appreciation.
Entertainment
Many people think The Sandbox will be the mecca of virtual hangouts and concerts. Located on the Ethereum blockchain, the Sandbox allows users to buy land, build properties, and sponsor activities of all sorts. As with other virtual property, you can rent out your party mansions or concert halls to other event organizers. In any event, getting a head start on other virtual party and concert promoters could produce substantial passive income rewards.
Assessing the Metaverse
Could the Metaverse expansion be the product of video gamers growing up and expanding an environment that they have lived in most of their lives? Regardless of the reasons, the emerging Metaverse has business and finance giants hustling to put their stake in this expanding digital world. However, it is not too late for you to stake your claim and possibly set yourself up for future passive income streams.