Time and again you might be coming across the term Metaverse. Like cryptos and other internet-based concepts, Metaverse also gains its popularity.
In simple layman’s terms, Metaverse is nothing but a virtual world that you build on the internet. This world is out of reality and you might gain a chance to do everything in this space. But the catch here is the ability to create this concept sitting in the comfort of your physical world. If you are interested in Bitcoin trading, you may also consider using a reliable trading Platform that will help you become a better trader.
Metaverse is the next big thing on the internet. The term was first coined in ’92 in a science fiction novel. The concept is simple wherein people experience life simply better than reality.
The concept gained another round of attention in 2021. Facebook came up with the decision to change its official name to Meta. This decision made Meta a concept that needs attention and investments. The Facebook development team also clarified that they are on plan to invest in it. Yes, this became a game-changer for Metaverse. People started searching for this concept. There is a huge volume of searches undertaken to understand this concept.
Other than Meta, many other leading technology giants including Google, Microsoft, etc.
These companies are now planning to invest in Metaverse. The largest financial institution in the country McKinsey predicts a market share of $3 trillion. Other than e-commerce, other segments include gaming and education. These industries are expected to play a major role in the metaverse industry.
But, before making any further decision let us take a closer look. There have been reports around the web about the backlash faced by the metaverse as well. The concept attracts a combination of uncertainty. It is still not sure how people would react to virtual experiences every day.
Features of Metaverse
Metaverse is a unique concept. Let us take a look at various other features that make it an interesting concept.
Ability to interoperate
This is one of the defining characteristics of the metaverse. Roblox may be considered an example of this metaverse concept. However, the new concept allows users to undertake iterations. It is based on the blockchain network concept. Players, on the other hand, can exercise complete control over the game including their assets.
Not able to copy or create a duplicate version
Yes, this is another concept of the metaverse. The blockchain-based tokens can be traded easily on the internet. Hence, it makes it difficult to duplicate or copy these tokens.
There is still no concrete answer to what the metaverse can do. Also, business units are trying to understand the ability of the metaverse in supporting its needs.
How to earn passive income through Metaverse?
With this growing concept, the internet is also exploring how to earn additional income. Now, this is not a new trend. When cryptos came into play, internet users had the same enthusiasm.
Like cryptos and non-fungible tokens, the Metaverse also can help you earn passive income. Let us look at a few available opportunities that can help you grow your stakes.
Renting your property
This is one of the most common ways to earn passive income through the Metaverse. You can buy a virtual property and then rent out the same. Currently, two popular metaverse platforms Decentraland and Sandbox provide users with this feature. But, you also need to understand that there is no definite answer to how much you can earn. You can also rent out your platform to hold virtual events and meetings.
Earn royalties through the secondary market
This is a popular concept in non-fungible tokens. A similar approach can be followed here as well. Any asset being sold on the secondary market can earn its users passive income.
This is another huge opportunity to earn passive income. As a user, you can create huge billboards in space that attract a crowd. You could also call for campaign-based advertisements.
Before going ahead with investing or buying your metaverse, you need to have a clear understanding. You need to know if Metaverse is worth your investment. If you are on the lookout for only passive-based income, then Metaverse may be a choice. But unlike cryptos or other traditional investments, there is no plan on how much the metaverse will grow.