The Guide to Metaverse Assets
If Facebook CEO, Mark Zuckerberg past year (2021) rebranded the company as „Meta” so that Facebook is „seen as a Metaverse company”, it means that big business has entered the virtual worlds. Big business is followed by big money, so it's a good time to invest in virtual properties, objects and anything of value. It's also a great time to enter the Metaverse with your digital items and sell it to virtual buyers. It's time to fill your crypto wallet with digital money!
Metaverse Assets: What Are They?
Metaverse allows users to work, meet, play and socialize in 3D space. To make the space more inviting to visit, creators, investors and companies fill it with many digital assets. Any user can purchase these assets to set up in this virtual world as in real life.
According to Gartner, „digital assets are anything that is stored digitally and is uniquely identifiable that organizations can use to realize value. Examples of digital assets include documents, audio, video, logos, slide presentations, spreadsheets and websites”.
If we talk about digital assets in Metaverse, we can consider them in three aspects.
Assets that are valued as NFT's
Non-fungible collectibles, or represent persistent spaces in the Metaverse. These are the most basic interoperable and open digital assets of all Metaverse. They can be divided into digital collectibles (digital items of various kinds) and virtual spaces, where users can explore the map, buy land (plots), create assets for their land, or share their land with other users to build on.
Assets that are digital collectible programmed with additional capabilities
For example assets with rarity scaling, meta-data breeding, and on-off connection with off-chain „real” world events. NFT's programmable allows users for example to breed and sell virtual pets (CryptoKitties, Axie Infinity, ZedRun) or start their own sports team and run real-time games (Sorare).
Assets related to social and cultural effects
Digital collectibles used for identity marking, social signaling, and governance in the virtual world. They can be divided into subtypes such as:
PFPs
collections of algorithmically generated profile pictures with various characteristics all varying in rarity (like CryptoPunks or Bored Ape Yacht Club). It's more about the associated socio-cultural value holding a PFP, than about the image/digital asset itself.
DAOs
decentralised autonomous organisations that aggregate individuals into something bigger with real social, economic, and political power to achieve coordination in transparent, democratised ways. For example: PleasrDAO (DAO that collectively decides to purchase and showcase various pieces of art), Yield Guild Games (YGG, DAO that allows people to earn income on play-to-earn games) or Global Coin Research (GCR, social token community where the best writers, researchers and crypto community members can come together, and get access community investment deals, community created content incl. research or insights, and a community of crypto enthusiasts – developers, angel investors and VCs).
Owning Virtual Real Estate / Virtual Land
Buying virtual land in the Metaverse space is very similar to purchasing land in the real world. The difference, perhaps, is that real estate and plots of land are simply pixels – digital images that resemble real estate from a Monopoly (or Eurobusiness, if you prefer) board.
In the real world, when you purchase a property, you receive a title deed, and information about the change of ownership is recorded in the relevant land records. In Metaverse, it works very similarly. Digital real estate in the Metaverse is secured in the form of unique NFTs, and every purchase/sale is recorded on the blockchain. The user receives a confirmation of ownership over the digital land (an unique code that stores the actual face value of the property by tokenizing it on the blockchain), and the NFT, representing the acquired land, goes into their crypto wallet.
Why invest in real estate in the Metaverse?
To make money on them! – just like in the real world.
Where to find land to buy in the digital world?
For example, you can buy virtual land, such as LAND – a digital piece of real estate in The Sandbox, or Somnium Space, or at Decentraland. The buying process itself is similar on different platforms. All you need to do is follow a few steps.
- You create a wallet and an account on the platform of your choice.
- You buy tokens, the platform's currency.
- You transfer the tokens to your wallet on the platform.
- You visit the selected market and look for a suitable virtual property / parcel of land.
- You choose and buy and become the new owner!
Any examples of interesting real estate purchases in the Metaverse?
- JP Morgan – the first bank to enter the metaverse. They have opened a lounge in Decentraland.
- Snoop Verse – a metaverse on The Sandbox platform owned by Snoop Dogg, where he owns a property. One of the rapper's fans paid $450,000 to become Snoop's virtual neighbor.
- The Republic Realm – paid a record $4.3 million for land in Sandbox, to develop 100 islands, called Fantasy Islands, with their own villas and a related market of boats and jet skis.
What is the approximate cost of land in the Metaverse?
Forbes noted that for Sandbox and Decentraland the average prices in land were about $5,300 (2021). In January 2022, the daily average price of metaverse land transactions exceeded more than $18,000.
How to Earn Money With Digital Assets?
There are several ways to earn using assets. A good way for beginners is to sell their own NFTs on the platform's marketplace. In addition to creating unique NFTs (art, music, film, game items) that can fetch sky-high sums at auction, you can also make money from real estate.
- create various experiences (like games) on it: letting users play games for free or create paid games, to monetize the traffic;
- create advertising billboards or design a museum to display all the NFTs they own;
- rent their parcel of land to others, who will organize various events and social activities there. Landowners in the metaverse can do that through PARSIQ’s IQ Protocol.
How to Earn Money With UIG LAB?
If you want to make money on metaverse platforms by selling your nft, you must have a great product. Competition is extremely fierce. Each one NFT should keep up with trends and technology. Fortunately, you don't have to create it yourself, you can use the services of professionals like us. Contact us to discuss the details.
If you are interested in buying a property on the Metaverse platform and developing a new video game on it – also consult us.
Learn what technology we work with and what other services we provide.
Bitcoin (BTC)
Blockchain
Cryptocurrency
Digital Wallet
Digital Assets
Non Fungible Tokens (NFT)
Smart Contract
