How deep does the rabbit hole of the metaverse go? As it turns out, it’s almost bottomless!
Disclaimer: Our content is intended to be used and must be used for informational purposes only. It is very important to do your own research and analysis before making any investment based on your personal circumstances.
What is the Metaverse about?
In a nutshell, what you can dream of, you can build or find in the metaverse. The best way to have a glimpse into this new world would be through the movie, Ready Player One by Steven Spielberg. However, gaming is just one component of the big Metaverse picture.
In the grand scheme of things, the metaverse will totally transform the world as we know it; the way we live, work and play will never be the same moving forward. In the not so distant future, we will be living in the physical world of planet earth while conducting economic and social activities in various metaverses. Sounds crazy? Perhaps not. This is evident in the rise of a new paradigm where gamers are giving up their day jobs and instead, making a living through play-to-earn games; owning and trading in-game digital assets, earning tokens and cashing out their rewards.
If you are new to the metaverse and the cryptoverse as a whole, these developments and narratives can be overwhelming but it doesn’t have to be. Although the developments in blockchain and crypto are taking place at lightning speed, the truth is that we are still very early and we are constantly learning, testing and experimenting what works and what doesn’t.
Here are some of the things that we do know of the metaverse for sure and that includes – how can you profit in this new world?
6 Ways to profit from the Metaverse
1.Play-to-earn (P2E) games
The monetization model of P2E games is not new. It started with incentivizing players with either cash or crypto coin rewards when they succeed in their gaming missions. With NFTs, it has revolutionized gaming income through the ownership of digital assets within the game.
Thanks to blockchain technology, gamers can now be further rewarded for their hours of hard work through in-game assets ownership – trading and owning their weapons, skins, characters and more! They can also vote and make decisions as a collective to improve the gaming experience. On top of that, they can even own part of the game by investing in its development.
Some of the more popular P2E games include: Decentraland, Axie Infinity, The Sandbox, Splinterlands, Aavegotchi and the latest rising star – Super Galactic by UFO Gaming.
What should you do if you have no time to be a pro gamer? Then you should consider owning and trading the crypto coins of the popular P2E gaming projects such as Mana, Sandbox, Axie and the list goes on!
2.Buying and developing lands in metaverse
Just like the real world, the metaverse is also made up of parcels of lands. On the blockchain, these lands are represented as NFTs, giving complete ownership to the people who hold these lands.
These lands are expected to appreciate in value over time. In addition, owners of these lands can also develop their lands, building real estate, renting them out and more. In short, everything in the real world can be mimicked in the metaverse!
Some of the more popular land sales in the metaverse include pioneers such as The Sandbox and Decentraland, with investors quickly gravitating to Axie Infinity, Superworld and OVR.
Some of the important considerations when buying land in the metaverse are: how can the plot of land be monetized? Where is it located? What size is the plot of land and how popular is the game?
More than just digital art pieces, weapons, skins and characters, NFTs in the metaverse apply to the tokenization of all assets. Recently, a super luxurious three-storey yacht in Fantasy Island by Sandbox was sold for a whopping USD 650,000 while a plot of land in Axie Infinity was sold for $2.3M! If you think this is the top, you may very well be wrong. Bloomberg projects the growth of the metaverse market to be around $783.3 billion in 2024.
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You may already know this by now but one of the lowest risk ways to venture into the wild wild world of metaverse is none other than buying the metaverse tokens!
As mentioned in our earlier blog post, MANA, AXS, SAND and ENI are some of the more promising tokens on our radar. In addition, you may also want to consider metaverse related projects such as RNDR for metaverse rendering and AR (Arweave) for cloud computing.
When navigating the world of crypto, always remember the golden rule: do tons of research beforehand and never ape into any projects based on hype. Tread carefully and never let FOMO take over. Given how early we are in this space, time and patience are your best friends!
Unsure of which gaming tokens to invest in? Be sure to take a look at MVI, Metaverse Index fund. MVI is designed to capture the trend of entertainment, sports and business shifting to take place in the virtual environment. The tokens they are invested in include: Axie Infinity, Decentraland, Enjin, Sandbox, Waxe and more!
6.Participate in DAO
Lastly, there is always the possibility to participate in a Decentralized Autonomous Organization (DAO) to profit from this new world. Be sure to give our previous blog post on DAO before getting started.
If the metaverse were to be the world that we will work, live and play in, NFTs are the digital assets while DAO is the decentralized governance structure, designed to improve it.
As a community-led entity with no centralized authority, DAO serves to improve the structure based on voting rights. When you participate in a DAO, you will generally be purchasing the native tokens which will give you voting rights. Having said that, not all DAOs function the same. It is very important to do thorough research on the structure, objectives and voting rights of the DAO that you wish to participate in.
Without a thorough understanding of how the metaverse works and its moving parts involved, it is advisable not to ape into any metaverse projects. Take it slow, research, learn and take small steps to start with.
The world of crypto is growing and given how far we have come within such a short time, there are more ways than now for investors to profit in crypto besides the metaverse!
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