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Can I Make Money in The Metaverse? - Top 5 Ways
The Metaverse promises to evolve exponentially as more innovations and inventions have been made, making fulfillment of this promise appear more and more likely.
Throughout the next few years, different job opportunities and careers will come up in the Metaverse.
So, the question is, how is it possible to leverage in on this? How do you turn such opportunities into profits? How can you turn your fortune around with the Metaverse?
Cryptic Crypto, Right in The Metaverse
There is a craze, a rush for Cryptocurrencies at the moment as they have been known to be very volatile.
And the more volatile a currency is, the more profits it can spurn. When you believe a country is about to go through a massive economic boom, you may want to buy some of its currency.
That's just it. There are different universes in the Metaverse, this means different economies, and each of them is powered by its cryptocurrency. And in the Metaverse, there is a high degree of volatility.
Investment in the currency of a specific universe within the Metaverse can yield large profits within a short amount of time.
Last year saw a rapid increase in the number of investments in the Metaverse, and with Facebook revealing plans for the virtual realm, the number of investments skyrocketed.As expected of any investment, there is always the presence of risk, so it goes without saying, invest well and invest wisely.
The MVI
It stands for Metaverse Index, an index that captures the trends and patterns among different Cryptocurrencies. It is made up of 15 different Metaverse-related tokens.
However, the bulk of the index is divided among four tokens-ILV (Illuvium), SAND (The Sandbox), MANA (Decentraland), and AXS (Axie Infinity).
Note that The MVI is also a token.The index is a less volatile and less risky way of investing in the Metaverse, an alternative for those that do not want to put all their eggs in a single basket.
Another upside is that it might not necessarily mean lower returns when compared to other Metaverse investments.
NFT Trading
Non-fungible Tokens could range from in-game skins to items collected within a particular universe.
They could even be parcels of land. These items can be sold and bought within the Metaverse. The more popular a Metaverse universe becomes, the more expensive its NFTs become.
So, if you get an NFT, you sit on it for a period of time, and then you can sell, hoping to get some revenue from it. For example, The Sandbox makes it easy to create NFTs out of 3D pixels and upload it for sale on The Sandbox marketplace.
Play-To-Earn
Many Metaverse games are coming up now, offering NFTs and other rewards for playing their games- Beating high scores, competing with other players, or even spending time in the game. They promise various rewards in return for your time and energy.
Though when you look at it, it is not free money or free rewards. It is more like an investment as in most of these games; you have to initially purchase NFTs to be able to play or earn rewards and also future purchases to continue earning.
Real Estate in The Metaverse
Saving the best for last. Yes, you can buy land in the Metaverse, and rather than sell it, you could do anything on it. Okay, what could you do on your land that could bring you revenue?
The first thing to do is get a plot of land, which usually comes in the form of an NFT. One of the most popular places or the biggest names in Metaverse real estate is Decentraland. The smallest parcel of land costs around $4 which is 3750 MANA which is the currency used to purchase land in Decentraland.
A tiny little square that could potentially earn you a lot of money.On this square, you can post ads for companies and charge them for this service. The charges are sure to increase as more and more people continue to troop into the Metaverse. You could rent it out to others or even sell it at a higher price later on. The possibilities are endless!
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