Real estate in Metaverse is one of the next tech revolutions and it can help you to make good money. This article tells you about make money in metaverse, make money in metaverse real estate, how to make money in metaverse real estate, how to make money in the metaverse, how to make money in metaverse reddit, best way to make money in metaverse, can you make real money in the metaverse, and how to make money in sandbox metaverse.
This is the first article of our Series “Make Money in Metaverse”. If you want to read all articles exclusively then you can sign up for the newsletter in the sidebar, With This, you will be able to read articles before anyone else does. We care for you. You can have a glimpse at the Table of Contents to have a better understanding of the article.
Table of Contents
- Introduction to the Money Making with Real Estate in Metaverse.
- Method 1 – Buying Land in Metaverse | Make Money in Metaverse Real Estate
- Method 2 – Become a real estate agent/dealer in Metaverse
- Method 3 – Rent the digital properties that you own in Metaverse
- How to buy land in the metaverse?
- Do not forget to read this!
Introduction to the Money Making with Real Estate in Metaverse.
What is Metaverse?
The metaverse is a virtual world that is made up of digital assets, wherein people from all over the world can connect with each other with their digital avatars. Metaverse is a huge concept and in a few paragraphs, it cannot be explained so you can go through this article to understand the Metaverse Concept.
Metaverse and Powerful Use Cases-2022 explained by Metaverse Tech Club : (5 Minute Read)
There are various ways of earning money through a metaverse. Money can be made by trading NFTs, Playing games, buying, selling, renting real estate, etc.
What is a Real estate?
Real estate basically means property including housing properties, Plots, Private museums, residency flats, etc. It is considered to be a valuable asset and a good investment. Real estate is regarded as one of the safest investments whether it is on offshore California or in one of the tallest buildings in the World: Burj Khalifa. What if I say you can also invest your money in Real Estate, No not the physical one but in Metaverse.
Method 1 – Buying Land in Metaverse | Make Money in Metaverse Real Estate
There are metaverse virtual worlds and market places where you can purchase properties and even develop them with virtual assets. There are two commonly used metaverses namely decentral and sandbox. There are many ways to get good returns over time.
People can either buy land or property and hold it for a specific time until they get good returns. Or the second way is you can buy it and host specific events from which they can earn money. There are more ways as well like making houses, shops, and malls.
Investing in metaverse real estate is one of the easiest ways to make money.
Sandbox
the Sandbox is one of the most popular nonfinancial trading gaming platforms for producing and exchanging virtual assets. here one can own, build and trade virtual lands, properties as well as other collectibles.
Players can edit and monetize box-shaped objects. we can consider it as a blockchain version of Roblox and Minecraft.
the platform gives users the ability to create and animate things, that can be sold over its marketplace in form of Nonfungible tokens. A total of 8.5 million dollars in land transactions were executed in one month.
Decentraland
It’s one of the biggest metaverse and complete decentralized 3d environments, and it has everything you could think of. you can buy properties and real estate, put them on rent, host parties, exchange NFTs, create avatars, explore the virtual land, meet new people and make friends.
The most important aspect of Decentraland is, that it’s not owned by a single person or a group of people, it’s decentralized and well structured so every member has equal rights and gets a chance to vote on important changes in the game.
You can deal with real estate and make avatars.
Decentraland started in 2015 and as of now, it’s one of the biggest decentralized metaverse projects.
Anyone can own or develop their own territory and make a home, or host events, or shop.
The land of decentraland is divided into small parts called parcels and the plot size is 16×16meters (52×52feets). you can own many plots next to each other if you wish to make something big. each parcel is specified by x, and y coordinates on the map and is stored on the Ethereum blockchain.
Facts – Virtual land within one of the metaverse was sold for a record-breaking price of $2.43 Million.
Method 2 – Become a real estate agent/dealer in Metaverse
This is one more way to make good money in the metaverse. You can find buyers and sellers and match buyers and sellers. For this job, we charge a brokerage or commission for getting a deal of their choice.
Again you can do these deals over Decentraland and Sandbox. Opensea is one of the biggest Metaverse marketplaces. Over Opensea you can trade digital assets of many different metaverses all at a glance. Opensea’s official website https://opensea.io/ (NOT SPONSORED)
Method 3 – Rent the digital properties that you own in Metaverse
One more way to make money from virtual real estate is to rent the properties you own and generate revenue.
You can rent real estate properties to people or businesses, Many brands like Nike, Rolex, Adidas, etc. They usually like to rent properties for advertisements, promotions, and mini stores. People are paying millions of dollars for parcels of land.
Facts – Someone even paid $450,000 for land next to snoop dog’s land.
Decentraland is the second largest digital world, and it crossed over $110 Million worth of transactions in digital real estate in the year 2021 alone.
Also Read: What is Web 3.0? | Exclusive Advantages, Metaverse and Web 3.0 vs Web 2.0
How to buy land in the metaverse?
Step 1: Getting Digital Crypto Wallet
You need to get a digital crypto wallet, there you can store your cryptocurrency and digital assets and access transactions. These wallets are also a secure way to keep your cryptocurrency holdings safe. We have mentioned some of the wallets (NOTE: THESE ARE NOT PROMOTED OR SPONSORED)
Some of the digital crypto wallets are
· MetaMask
· Trust Wallet
· Binance chain
Step 2: Choosing a Real Estate Platform
Choose a real estate platform where you want to buy a plot or piece of land. Decentraland and Sandbox are the most popular platforms for investing in real estate properties. The open sea is an excellent alternative if you’d like to move further with a third-party purchase.
Step 3: Selecting Piece of Land
Browse and select a piece of land. You can get information about the property like how far it is from famous landmarks. You can either bid or purchase the property depending upon the platform.
Step 4: Link your Wallet to the Metaverse Platform for Transaction
Link your digital wallet to the Metaverse platform and do the transaction. Hence after the successful transaction, you own the property
Do not forget to read this!
This article is brought to you by the collective efforts of Metaverse Tech Club and Aarya Shah. You can also follow us on Instagram. Do let us know in the comments section how you liked the article.
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It’s wonderful and really helpful article, cleared all my doubts
Thanks Arihant for your Feedback.