Three Ways to Create Long-Term Wealth in the Metaverse
We are now living in the Web 3.0 age, which is characterized by distributed ledger technology, virtual reality, metaverses, cryptocurrencies, non-fungible tokens, artificial intelligence, and the internet of things. Here are some strategies for putting oneself in a position to prosper in this brand-new metaverse.
For the affluent, real estate has traditionally been a sign of lasting riches. The reasons are clear. Firstly, using NFTs and cryptocurrencies. You could gain a lot of money one day and lose it all the next. Real estate, however, has a propensity to continuously generate profits year after year. Its defining characteristic is stability. Even if it has a few bad years, the long-term trend is for things to balance out.
Setting up online magazines and websites is not considered creating virtual real estate.Real estate in a metaverse is what is being discussed here. Instead of “property,” this area will likely be referred to as “space.”
It’s remarkable that certain conventional ideas—like advertising, rent prices, lounges, retail stores, museums, and more—can genuinely be applied to the metaverse. For each VR experience, particular locations will be modified, but there won’t be any electricity, construction, or upkeep charges.
Even while it may all seem quite far in the future, it is already taking place. For instance, Metamall has nearly all of the amenities you might anticipate in a retail mall, including casinos, clubs, arcades, and shopping centers. Six thousand spaces total, distributed among Cubes, Cabins, Clubs, Chalets, and Chateaux. A Cube (in the form of an NFT), which symbolizes a typical clothing or retail store, is available for purchase. The other alternative is a chateau, which is comparable to a multi-story office building or a sizable government structure.
Many conventional companies are searching for methods of entering the metaverse. The majority of laypeople have heard of blockchain, cryptocurrencies, and NFTs but are unaware of their true meanings.
For consulting and PR companies that allow legacy business models admission into the metaverse, this creates a big potential. This may be accomplished through content management, token/whitepaper generation, or even crypto-custodial services. A large industry that will only grow due to smart contract vulnerabilities is cyber security. You can establish companies that offer these services and establish yourself as a thought leader or subject-matter expert in a certain metaverse area.
Graduates and those just entering the business world can also contribute in a variety of ways. There are numerous accounts of young individuals making hundreds of thousands of dollars by selling NFTs, and websites like H3RO3S even allow students to work remotely and locally while earning up to $1,500 per month. Even in a time of geo-restrictions, it gives students a way to engage and make money. Although there is still a long way to go before it can compete with UpWork and TopTal, this decentralized platform has the ability to do so.
You may just wait for a market downturn and invest in a variety of cryptocurrencies with medium- to long-term potential, depending on your financial circumstances. Yes, you’ll lose out on the initial, spectacular growth (the Polygon token ($MATIC) increased by over 4,000% in early 2021), but massive, well-funded initiatives like Polygon, Solana, Ethereum, and Ankr will make up for it. They are multi-chain, interoperable, and independent of industry. They have the proper business alliances to set themselves up for success in the upcoming metaverse period.
These projects can be available for about 33% of their all-time high (ATH) price. From an ATH of $260, Sol traded as low as $80 in February 2022. These proof-of-stake ecosystems also have a propensity to boost network involvement through fair rewards.
Compound interest rates, which are the true source of wealth, are important to long-term investors. There are Web3 projects that provide yields of 1,000% annually. But these investments do not produce wealth over the long term. Therefore you must exit at the right time to save your profits.
In the metaverse, there are plenty of investment opportunities. One can Invest in the metaverse in a variety of ways. NFTs can be purchased through a variety of sites. By going through the whitelisting procedure and hope the project tokens grow sharply, you can get in early for a number of projects.