The buzzword “Metaverse” has been the trending topic lately and a variety of organizations and companies are pumping a huge fund into technology innovation. Metaverse created a thunderstorm in the digital space since Facebook announced a rebrand to “Meta.”
As everyone and most especially big tech companies are venturing into the Metaverse, you may have been pondering on how to invest in Metaverse. In this guide, I will walk you through the different ways you can embark on investing in Metaverse.
Brief Explanation of Metaverse
Metaverse is an evolving ecosystem that spans both the virtual and the real world, it is such a shared virtual space created by the conjunction of visually magnified physical reality and physically inflexible visual space.
Basically, it is the virtual version of the physical world that enables socializing, working, playing, and other regular activities that are being done in the physical world to be performed in a virtual world with the aid of virtual augmented and mixed reality.
How to Invest in Metaverse
The Metaverse has created an avenue for everyone to invest in the innovative technology as it comprises different niches and business categories, below are a few lists on how to invest in Metaverse.
Metaverse Tokens
One of the best and most common ways to invest in the Metaverse is by trading or investing in Metaverse-related tokens.
In a metaverse project like Decentraland, it has a native token named MANA, the MANA token will be required if a user wants to purchase an asset in the metaverse to experience the virtual world reality. It is used for transacting in the metaverse platform, it should be considered the nation currency just like the Dollar is used for transacting in the US.
However, It’s required for an investor to make informed research on a metaverse platform that is gaining traction and is hosting significant numbers of people in the platform. A metaverse platform that’s being used mostly will make its native token in high demand thus spiking the price of the token.
In a recent article, we listed some of the best metaverse tokens you should consider buying in 2022.
Buy In-game Items
One other way of investing in the metaverse is to buy in-game items, these in-game items are wearable for the user’s avatar and NFTs for gaming activities.
These wearable devices are like physical clothes that users can wear with their avatar to interact in the metaverse.
For instance in Decentraland, there’s a dedicated marketplace for collectibles which consist of wearables as well avatars that are used within the Decentraland platform, these wearable assets might spike in value when the user base increases over time because there are limited editions of the in-game items.
Buy a Virtual Land in Metaverse
Another way to invest in the metaverse is to own a parcel or plot of virtual land in the metaverse.
You can purchase a plot of land in the metaverse and build something valuable on it that will be of immense value to the particular metaverse platform users, you can have a building on your land that will be suitable for hosting parties and concerts. Nevertheless, if you don’t have the experience to build on your virtual land, you can lease your land to a game developer to rent and they will pay you on the agreed time and amount.
Moreover, in the Decentraland platform, for example, there’s a limited amount of land that is available for users to buy, and when these lands are being constantly acquired thus the increase in value of the already bought land. It will also give scarcity to lands.
How to buy Lands in Metaverse (Decentraland)
Different metaverse projects have created a metaverse for users to buy and sell land in the form of NFT. Let’s look into how to buy land on the Decentraland platform.
Your first step to buying land in Decentraland is to set up a cryptocurrency wallet, this wallet is what will be used to connect with the Decentraland platform. A good example of a compatible wallet that’s widely used is the “Metamask” wallet.
The second step is to acquire the native token that will be used to purchase the land, which is the MANA token. The token is tradeable on a popular exchange like Binance, you can just navigate to Binance exchange and register, then fund your wallet with a stable coin (USDT) and buy the cryptocurrency MANA.
You will also need some ETH to pay for the transaction fee (gas fee), so you must buy little ETH on the cryptocurrency exchange too.
After which you can now withdraw to your Metamask wallet, all you have to do is to copy your Metamask Ethereum wallet and paste it into the Binance withdrawal page. The MANA token will be credited to your Metamask wallet after confirmation on the blockchain. (This is also applicable for withdrawing the ETH that you bought)
Now that you’ve successfully acquired MANA token and little ETHer, the next step is to navigate to the Decentraland platform by inputting the web address on the Metamask Dapp browser page and connecting your wallet to the platform. After that, you should access the marketplace on the Decentralized platform and you can filter the price, location of the land you want to buy.
When you stumble upon land that you think it’s suitable for your preference, then you can place a bid on the land and the amount of MANA offered for the land will be deducted from your Metamask wallet while the land will be sent to your wallet as an NFT automatically.
Conclusion
We believe you have been able to know how to invest in the metaverse in this article and that you have learned a different way to start investing in the metaverse.
However, this should not be a recommendation or motivation for you to employ any aforementioned way to invest in the metaverse.
