In the Metaverse, you can rent out land and properties

4 Min Read

Tenants for commercial properties are more readily available than you might think in the metaverse. For let’s try to rewind time – Landowners in Second Life are constantly renting out their lots and completed properties, generating an income stream from a piece of virtual real estate that they may have acquired years ago (Second Life first opened its doors in 2003) and are still holding onto. However, the beauty of the modern vision of the metaverse is that a large number of commercial players are also getting into the mix, which is great news for everyone.

Apart from renting virtual houses and apartments, you could also build virtual malls, offices, and event space and then rent them out to customers. Your position as a commercial landlord to legitimate business ventures that you can reach out and touch in the real world has changed overnight. I’m completely blown away. Brands are making significant inroads into the metaverse, and they require ample space to spread their messages to anyone who happens to be in the vicinity.

You can design and build a castle that you can rent to a finance prince?

In comparison to real-world costs, input costs are low.
Even if you hired a virtual structure designer to assist you in the construction of a metaverse property, the input cost would be negligible in comparison to the cost of real estate in the real world. No property inspections are required; there are no restrictions on what you can and cannot build (in fact, gravity isn’t even a consideration, which is pretty cool); and there are no restrictions on who can occupy what and for how long (which is also pretty cool).

Although it will cost you some money, you will have no physical building materials to deal with, no waste, and no need to be concerned about supply chain hiccups. Pixels and electrons are the building blocks of all electronic devices. In addition, those can be customized to meet specific requirements, even if there is a resin shortage and the color blue is out of stock until further notice.

Remember to keep an eye on the market at all times.
This isn’t a benefit, but rather a word of caution from me to you about something. The metaverse is in a phase where normal people can jump in and start building a little nest egg because of the large corporations that are heading there to try to make a fortune, but there is no guarantee with any given platform, and I believe this to be true.

This is especially true if you choose a platform that is still in its early stages. Depending on how well it does, you could make a lot of money or you could lose everything if it fails to catch on and the whole thing implodes. In contrast to the real world, where you are left with nothing but dirt and rocks if no one wants to rent your property, the virtual world can literally disappear beneath your feet if no one wants to rent your property.

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Posted by Alex Vartmann
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Web3 guru, and enjoys sugary liquorice.