What are the potential future earning opportunities from earth based world metaverses?
Although still in its infancy, the adoption of metaverses continues to grow and evolve day by day. They have growing number of users, are continually adding extra functionality/content, plus evolving there user interface and development environments to support future mass adoption of user and business services.
In 2023, it is expected that earth based world metaverses will go from being small/medium tech-savvy user spaces to much larger mass adopted user communities. As business integrating within metaverses increases then so surely more companies and users will move into this untapped market.
For example,
claims to have over a million users owning combined 5 million metaverse plots of virtual land,
has over half a million NFT plots of land owned by there user community,
have just announced 1 million registered users and
has over 18000 large virtual plots already sold.
Although currently earning from earth based worlds is largely limited to trading items of interest on NFT market places, there are several ways that could in the future provide earnings from earth-based worlds. At
the aim is to look at what approach should be taken today to enhance earning benefits for the future.
Below is a list of the 5 key areas that could potentially open up significant earning opportunities to early investors.
Virtual real estate:
In these metaverse worlds, users can buy virtual plots of land that they can use to build virtual structures or build virtual storefronts or just sell to other users for a profit. Just like in the real world, the value of virtual real estate can appreciate over time.
Determining which is the “best” virtual real estate in a metaverse depends on a number of factors just like in the real world, such as the location within the virtual world, the potential for development, and the level of demand from other users for that location.
- Location: Just like in the real world, location is an important factor in determining the value of virtual real estate. Areas that are centrally located or have scenic views may be more desirable.
- Access to resources: Depending on the metaverse world, certain virtual real estate may be situated close to valuable resources, such as rare digital assets or high-traffic areas for events and gatherings.
- Development potential: Some virtual real estate may be better suited for development than others. For example, if a virtual plot of land is situated in an area with high demand but little existing development, there may be more potential to build and attract visitors.
- Existing demand: Consider the current demand for virtual real estate in the metaverse world. Are users actively buying and selling plots of land? Are there areas that are particularly popular or in high demand?
- Future growth potential: Look at the overall growth potential of the metaverse world itself. Is it expected to continue growing and attracting new users over time? This could potentially increase the value of virtual real estate in the long term.
Digital assets:
Metaverse worlds may also feature unique digital assets that users can purchase and trade, such as virtual clothing, accessories, and other items. Some of these assets may be limited edition or rare, making them more valuable.
The “best” digital assets in a metaverse will depend on a number of factors, such as uniqueness, popularity, and overall demand from other users.
- Rarity: Just like in the real world, rarity is an important factor in determining the value of digital assets. Assets that are limited edition or one-of-a-kind may be more valuable than those that are more common.
- Popularity: Consider the overall popularity of a particular digital asset within the metaverse world. Are other users actively buying and selling it? Is it highly sought after?
- Utility: Some digital assets may have more utility than others. For example, virtual clothing and accessories that can be used to customise avatars may be more valuable than purely decorative items.
- Brand recognition: If a digital asset is associated with a well-known brand or celebrity, it may be more valuable due to the recognition and association.
- Future potential: Consider the potential for future growth and demand for a particular digital asset. Is it likely to become more valuable over time as the metaverse world continues to grow and evolve?
Advertising:
Just like in the real world, companies may want to advertise their products or services in the metaverse. Users could potentially earn by displaying ads on their virtual properties or avatars.
The potential for advertising in the metaverse world is vast, and as the technology continues to evolve, new and innovative advertising methods are likely to emerge. However, it’s important to remember to balance advertising with the user experience, as users may not appreciate an overly commercialised virtual environment.
Some examples of the types of advertising that will be presented are:
- Virtual billboards: Advertisers may want to display virtual billboards or other signage within the metaverse world. These billboards could be placed in high-traffic areas or on virtual real estate that receives a lot of visitors.
- Sponsored events: Advertisers may want to sponsor virtual events, such as concerts or conferences, in order to get their brand in front of a large audience. In some cases, the advertiser may be the primary organiser of the event, while in other cases they may simply be a sponsor.
- Product placement: Just like in movies and TV shows, product placement may occur in the metaverse world. Advertisers could pay to have their products or brands featured prominently within the virtual environment.
- Influencer marketing: Just as there are influencers in the real world, there may also be virtual influencers within the metaverse world who have large followings. Advertisers could potentially partner with these influencers to promote their products or services.
- Interactive experiences: Advertisers could create interactive experiences within the metaverse world that allow users to engage with their brand in a more immersive way. For example, a car company could create a virtual test drive experience.
Event hosting:
Metaverse worlds can also host virtual events, such as concerts or conferences. Users could potentially earn by organising and hosting these events, or by charging admission fees.
This can take many different forms, depending on the type of event and the desired audience. Here are some examples of what event hosting could look like:
- Virtual conferences: Instead of holding a physical conference, organisers could hold a virtual conference within the metaverse world. Attendees could participate in sessions and panels, network with other attendees, and interact with sponsors and exhibitors.
- Concerts and performances: Musicians, performers, and other entertainers could hold virtual concerts or performances within the metaverse world. Attendees could enjoy the show from the comfort of their own home, while still feeling like they are part of a live audience.
- Product launches: Companies could use the metaverse world to launch new products or services, hosting virtual launch events that allow attendees to learn more about the product and interact with company representatives.
- Virtual meetups: Instead of meeting in person, groups of people could use the metaverse world to hold virtual meetups. This could include anything from book clubs to hobby groups to support groups.
- Social events: In addition to business-focused events, the metaverse world could also be used to host social events like parties or happy hours. Attendees could socialise and interact with each other in a virtual environment, just as they would in the real world.
One key advantage of hosting events in the metaverse is that it allows for a level of interactivity and engagement that is difficult to achieve in other digital environments. People attending events can feel like they are truly part of a community, and organisers can use gamification and other tools to keep them engaged and interested.
Also, events held like this can be more accessible to people who may not be able to travel or attend events in person due to maybe location or physical restrictions like disabilities, making the event feel more inclusive overall.
Gaming and esports:
Some metaverse worlds may feature games and esports tournaments that users can participate in and potentially earn from.
These types of tournaments are likely to be important components of the metaverse world, offering users a way to both entertain themselves and interact with others in a virtual environment. The exact form that gaming and esports will take within the metaverse world is likely to evolve and change as the technology develops and new ideas emerge.
- Virtual game worlds: Metaverse platforms like Overline and NextEarth could themselves host virtual game worlds where users can play games within the metaverse environment. These games could range from simple arcade-style games to more complex multiplayer games that are integrated with the larger metaverse world.
- Esports tournaments: Just as there are professional esports tournaments in the real world, there could also be virtual esports tournaments hosted within the metaverse world. Players could compete against each other in games like first-person shooters, MOBAs, and fighting games, with spectators watching and cheering them on from around the world.
- Virtual reality gaming: With the growing popularity of virtual reality (VR) technology, it’s likely that gaming in the metaverse world will incorporate VR elements. Players could use VR headsets and controllers to fully immerse themselves in the virtual environment, making the gaming experience even more engaging.
- In-game purchases: Just as there are in-game purchases in many mobile and console games, there could also be in-game purchases within the metaverse world. Users could buy virtual items like weapons, clothing, or decorations for their virtual real estate.
- Social aspects: Gaming in the metaverse world could also have a strong social component. Players could form teams or guilds and compete against other groups, or simply hang out and chat with other players in virtual environments.
So overall, there are many potential ways to earn in earth based metaverse worlds from Virtual Real Estate, Digital Assets, Advertising, Event Hosting to Gaming/Esports.
However, it’s important to note that the metaverse is still a relatively new concept and its economic model is still evolving, so it’s vital to approach any investment with caution and to do your own research.
As with all forms of investment, it is key to remember that diversification of all asset classes is key and that you should not invest any money which you can not afford to lose.
This article is NOT investment advice.
If you would like to find out more about earth based worlds please check out www.earthbasedworld.com, or please use my links for the websites which are as follows Superworld_App, Overline, Next Earth and OverTheReality.