The Metaverse has the potential to revolutionize all areas of business. Although a developing industry, major metaverse platforms such as Decentraland, Sandbox, Upland, Somnium Space and Voxels offer many opportunities for passive income in the metaverse.
Trailblazers are already taking advantage of these opportunities. Landowners subsisting on Somnium space rental fees, sandbox game makers, corporations selling billboard space in Decentraland, and players grabbing idle gameplay in the gamified metaverse are all set for early He’s one of his adaptors.
Let’s look at their story through the lens of earning passive income in the metaverse and explore the approaches being used today.
How to earn passive income in the metaverse
#1 Become a Metaverse Landlord
Chris Bell, who owns about 100 parcels in the Somnium Space Metaverse, said: Earned $18,000 renting a property His strategy includes determining the present value of the property by examining recent secondary market sales on OpenSea, renting the property to tenants for an annual fee of 10% of the present value of the property, and comparing This includes targeting a 10% annual rate of return. value of the property.
Becoming a landlord in the metaverse is a popular way to earn passive income in the metaverse. Because it allows renters to build a unique experience on their leased parcels and has the benefit of generating new income for tenants. next section.
All popular metaverse projects allow land leases. That being said, one common drawback is that you have to leave the metaverse marketplace to close a deal, which can pose security issues. As such, new business models are built to improve processes. As an example, LandWorks and the voxel metaverse (Formerly known as cryptovoxels).
Landworks is unauthorized lending protocol It connects landlords and tenants through a decentralized marketplace, allowing renters to securely search for voxel land. The marketplace is now also integrated with his Decentraland parcel.
Metaverse giant Decentraland also launches Built-in land rental Enables leasing without leaving the Decentraland Marketplace. Landowners can list their properties directly on the chain by approving Rent Smart his contracts, allowing tenants to use the land on their behalf, and signing the listing prompts.
#2 Create Your Own Metaverse Experience
Whether you’re a landlord or tenant, another way to generate passive income in the Metaverse is by creating experiences on your parcels and collecting admission fees from visitors. Experiment with ideas such as launching minigames, hosting shows, building art galleries, dioramas, interactive tours, and building shops. You don’t have to create these experiences yourself. Hiring developers and designers paves the way for the passive route.
The sandbox ecosystem is particularly rich in such experiences. The Metaverse provides builders with a suite of tools that facilitate the process of creating unique experiences in virtual land. In this way, game publishers can charge players for accessing plots and playing games.
Additionally, Sandbox offers two funding programs. game maker and one is creator A person who designs game assets. As a result, there are many talented and experienced game artists, designers, and agencies creating sandbox experiences that you can hire to build custom experiences.
Other metaverse projects offer similar opportunities to take advantage of, like the one hosted by Blake Hotz. Immersive event in Somnium Spaceranging from horror houses to try-on shopping experiences.
As Sam Huber has shown, expanding land in the metaverse through experience increases the value of the underlying parcels and benefits the landlord. Huber’s company Admix – Recently merged with Landvault – Develop buildings on land before renting to clients. Working with L’Oréal, his company created an oversized perfume bottle display in Decentraland.as he mentioned interviewwhich is a business model with a profit of as much as 70%.
#3 Build a Metaverse Billboard to Earn Passive Income in the Metaverse
Just like in the real world, businesses want to advertise their services in high-traffic metaverse areas to increase brand awareness and reach potential customers. So advertising on the Metaverse Billboard is another way to make money while you sleep.
A new generation of virtual real estate companies shows great potential for metaverse billboards. They invest in attractive land parcels and create advertising space on them.
Decentraland Architects has three types of Decentraland signs The minimum booking period is one month, but Metaverse Billboards Voxels with over 250 billboardsSome companies, such as broad-format advertising provider Lemma, are developing billboard solutions that blend the physical and virtual worlds.
Signs are easy to create. Private Investor – Whether you are the owner or tenant of the metaverse propertypursuing a similar route to these companies can make your investment work.
Generating passive income with Metaverse Land Assets opens up possibilities. However, you are not limited by them. There are two more options.
#4 Take advantage of staking and other interest-earning opportunities
All major Metaverse projects issue native cryptocurrencies. For example, Decentraland has MANA, but Sandbox has SAND. Popular Metaverse project cryptocurrencies are always in demand, as users must use these currencies to participate in the Metaverse experience.
As a result, opportunities to profit through DeFi, such as staking and yield farming, will open up. So you can invest in the Metaverse native cryptocurrency first and then lock the tokens within the liquidity pool for a period of time and earn interest at the end of the period.
Such programs may be provided directly by the Metaverse. For example, in the past sandbox We have enabled SAND staking on Polygon without the need to pair with another currency. Tracking announcements on the official Metaverse channels that interest you is a way to find out about opportunities. Popular central exchanges will also launch staking programs. Currently, Binance is offering his SAND’s Lock Staking Program with a reward rate of up to 14.50%.
Similar programs are constantly being started in the crypto space. They are not tied to cryptocurrencies either. There are also NFT staking opportunities. For example, in-game asset owners of Axie Infinity (a very popular play-to-earn game with metaverse features) can: Bet NFT Assets Get up to 30% financing on value.
Another interesting case is Upland, a monopoly-like metaverse mapped to the real world. Owners of newly minted Upland properties can earn an annual yield of up to 17% of their property’s mint value. However, these yields are paid in UPX, the primary currency of the Metaverse.you need to level up in the game Convert Upland Yield to US Dollars.
#5 Collect Game Tokens to Unlock Rewards
The gamified metaverse will allow users to collect tokens, both in-game redeemable and non-redeemable, enabling entirely new ways to earn passive income.
Alien Worlds incorporates a token mining process inspired by cryptocurrency mining concepts. The game needs to be played, but setting up the necessary tools can result in idle gameplay waiting for gamers to accumulate trilliums (TLM), the game’s native currency, between sessions, which can be traded against other cryptocurrencies. You can exchange and get real currency. worth.
You can also benefit from extensive play-to-earn mechanics that require little effort, such as fusion and breeding, which create new and improved in-game NFT items by merging two other assets. . Many game metaverses, including Axie Infinity, incorporate similar mechanics into their gameplay. Players can also sell his newly created NFTs on the secondary market.
Another interesting passive income option is NFT Collateral Courtesy of Alice in My Neighborhood. Here, a percentage of the price of her NFTs purchased by a user is sent to that user’s collateral account. When a user sells that NFT back into the system to destroy it, the amount previously locked as collateral will be refunded to the user.
Our efforts to play and earn don’t stop at inventing unique ways to reward our players. Ample time should be devoted to thorough investigation.
The future of passive income in the metaverse
The Metaverse of the future will be an immersive environment powered by AI, AR, VR, and hologram technology. On the one hand, you get a virtual experience that is completely decoupled from the physical world, while on the other hand you have a seamless transition between multiple realities.
This convergence presents great opportunities for businesses of all kinds, including new revenue streams derived through passive income strategies. Unexpected monetization methods driven by new metaverse concepts like teleport may be on the horizon, but it’s unlikely that Web2’s typical business model will gradually adapt to the metaverse. Very expensive.
For example, creating an online course once and selling it multiple times is a proven way to make money on the current version of the Internet. Dropshipping is another business model that doesn’t require direct involvement in operations. Joining the Metaverse will bring new forms of income to e-commerce.
Other simple strategies to generate income include placing ads on social media posts or recommending products. Model variations will adapt to the new Internet.
Still, regardless of what the future holds, remember that living on passive income will take a lot of effort.
