The world of digital real estate is growing, and some digital real estate is selling for a high price. Republic Realm recently bought a property from Atari that cost $4.3 million, according to Notarize. If you’ve heard about the Republic Realm deal or other digital real estate deals, you might wonder how to make money from digital real estate. Here are some tips.
What Is Digital Real Estate?
Digital real estate is any virtual property. It is divided into two categories: traditional and Metaverse. Traditional digital real estate includes domain names, e-commerce sites, blogs, and smartphone apps. The Metaverse is a 3D world, sometimes referred to as Web3. Metaverse refers to various augmented realities. Metaverse worlds consist of properties such as houses, land, and concert halls. Metaverse is a new and evolving world, but some investors are finding ways to make a profit.
What Are Some Advantages of Digital Real Estate?
In many ways, digital real estate may be an easier market for an investor to enter than Earth-based real estate. In most cases, you need less money to invest in digital real estate than in Earth-based real estate. Appreciation tends to be quicker and profit margins greater. However, digital real estate can often experience volatile prices.
How to Make Money With Traditional Digital Real Estate
One type of traditional real estate is websites. You can make money through websites. However, an established website can be quite expensive. You can also make money by designing your own website, filling it with great relevant content, and optimizing it for SEO. After you begin attracting a following or regular readers, you can sell ads or properties on the site. You can also engage in affiliate marketing. With affiliate marketing, you help another company sell its properties and receive an agreed-upon commission for each sale. You can also later sell your website to another person for a profit.
Another way to make money is by becoming a social media influencer. Essentially, you position yourself well and gain a following, then earn money from a company that pays you to “influence” that following to buy a parcel of property. The key to earning money through influencing is to choose a niche that isn’t overcrowded so that you don’t need millions of followers to be considered an influencer.
A third way is through domain-name purchases. Domain names can only be owned by one entity. As an investor, you consider domain names that might be important to an individual or company in the future and buy that domain name. Then, you hold onto it until someone wants it. Investing in domain-name properties requires patience.
How to Make Money in the Metaverse
The Metaverse is still growing. So far, the money-making schemes involve NFTs or non-fungible tokens. NFTS are unique digital titles representing real-world objects such as collectibles, movies, and art. They can also represent parcels in specific locations within a Metaverse community. Parcels located near specific amenities tend to have more value, just as they do in Earth-based real estate. Investors can buy a property, hold onto it, and sell it just as they would Earth-based real estate.
Investors typically buy Metaverse properties with a cryptocurrency, such as Ether. So, before you can invest in Metaverse properties, you’ll need to create a crypto wallet to contain your cryptocurrency.
Once you establish a wallet, you then find a parcel you wish to buy. You can find parcels on several platforms, both direct and indirect. Examples of direct platforms are Decentraland and The Sandbox. Indirect platforms are third parties and examples are OpenSea or Nonfungible.com. Once you find the property you want, you simply click on its “buy” button.
Depending on where the property is located, you may have to convert your cryptocurrency into another cryptocurrency. You can think of this as similar to having to convert your pounds to dollars to make purchases in the United States.
Investing in digital real estate on the Metaverse has some risks. For one thing, you can only own the property as long as the Metaverse exists. Many different Metaverse worlds currently co-exist and likely will do so for some time. However, nothing guarantees that all Metaverse worlds will exist long-term or that the same worlds will have value many years from now. Also, the Metaverse world is less organized than the Earth-based world, likely because of its newness.
Can a Real Estate Virtual Assistant Help With Digital Real Estate?
Yes. A real estate virtual assistant can help you make money in several ways.
- Researching potential traditional and Metaverse digital real estate opportunities.
- Designing and maintaining websites and social media to help you attract a following.
- Help you research and attract potential affiliate marketing partners.
- Help you set up and manage your cryptocurrency wallet.
- Help with bookkeeping tasks so you understand which properties are earning money for you.
ShoreAgents provides offshore staffing solutions for all types of real estate — on Earth and digital. A real estate virtual assistant can perform marketing, research, and administrative tasks to free up your time so that you can make more investments. Contact us today to see how we can help you enter the digital real estate world.