The birth of something completely new, from the ground up, is a profound experience. Whether it’s a new home, a small mall, or even an apartment building, it doesn’t really matter. The dread comes from bringing an idea off the paper into the real world, and it’s no different in the metaverse.
Developing the metaverse real estate is a little easier in some ways, since you don’t have to deal with planning and zoning or having to fetch utilities, but there’s still that amazing feeling of making something out of nothing. We talk about this part of the process a lot in the summary, without much guidance on how to do it, but for this article, we’ll talk about some of the ways an investor can develop their virtual real estate purchase.
1. Hire a Metaverse Architectural Design Company
Unlike the real world, where you are always required to hire an architect to design plans for your structures to ensure they are stable and won’t collapse, say, at some random point in the future, architectural plans are completely optional in Metaverse. However, this does not mean that it is not beneficial to hire an architect or graphic designer in the virtual world for this job by shopping LinkedIn or the web.
It might not be worth the cost of a small structure or billboard, but for projects that need visual impact and are worth investing some extra cash into, a metaverse architect is a must. Not only can they bring your vision to life, they will do so efficiently and without having to do much besides checking in once in a while.
2. DIY it!
Remember, the metaverse is meant to be a hands-on experience, and that extends to construction. You don’t need heavy equipment certifications or a structural engineering background to get a proper building in a world devoid of the consequences of physics, but you will have to learn how to use the platform and building tools specific to the platform where you purchased your property.
This can be a time consuming process, especially if you are new to the concept of the metaverse, but it can allow you to build exactly what you want and without waiting for your turn on the architect’s roster. Start with small structures; Otherwise, you might get fatigued pretty quickly, as the builders for most platforms have a great deal of depth along with their quirks to work around.
3. Don’t start from scratch
Blank lots aren’t the only option – you can also buy property (a lot has something in it) and start from there. Sometimes a lot of interesting stuff already has it, but you need to make changes to make it work for you. As long as you have the right to change structures, you can basically reshape what’s on and add what you need yourself.
This is a great way to cut short the work of building something out of nothing, if you can find a property that actually has something close to what you need. Keep in mind that real estate tends to be a lot more expensive than a lot, but it may be worth it in the right location or time when real estate will fly in your building plans.
You can make a lot of money, but improving it is all about it
There will be a lot of people buying land in the metaverse rigs and sitting on it, waiting for someone to come and offer them the right amount of money. This happens every day in the real world too (and some of these pieces are still around 50 years ago when they were purchased). But adding something to the metaverse nodes can enhance both the property’s value and usefulness.
Why keep an empty plot of land when you can develop it and generate passive income from sources such as rentals from virtual billboards, retail, offices or ticket sales for events. Right now, you may not have to pay any kind of maintenance fee for these properties, but if you’re making very little income from them, it looks like you’re still paying a hefty opportunity tax.
This article represents the opinion of the author, who may disagree with the “official” recommendation position of the Motley Fool Premium Consulting Service. We are diverse! Asking about an investment thesis — even if it’s our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.
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