Building and Investing In The Metaverse
The 3D virtual world Metaverse is a disruption that will heavily reward early adopters. One of the valid ways to be among the early adopters is to start building and investing in the Metaverse.
I believe the next thing that is probably in your mind now is the question of 'How'. We will come to the 'how' shortly.
In the meantime, let me tell you the very first thing to do so that when you have known the 'how', you will begin to take action. What you should do the moment you are done consuming this article is to start or continue to learn deeply about the Metaverse as the case may be.
Where should you start your learning from? I highly recommend you start with this platform. You will not just only learn about the Metaverse with ease and so much fun, but you will also learn about other web 3 concepts like blockchain, crypto, NFT, decentralized finance (DeFi), etc. The sweetest part is that you earn while learning.
How about I also point you to where you can get premium training on web 3-oriented skills at zero cost? With these skills, you are on your way to earning thousands of dollars.
I know you are excited already and can't wait for me to direct you. Just relax and follow me, you will definitely see it somewhere in this write-up as you keep reading.
Yea, it's time to show you how you can build and invest in the Metaverse.
?How To Build in The Metaverse
To start building in the Metaverse, there are 3 vital steps.
1. Decide on what to build: You can create many assets in the Metaverse from the comfort of your home using just a computer. It ranges from virtual merchandise to architectural structures. Virtual games, inclusive.
Generally, the 2 kinds of builders found in the Metaverse are the scenes and wearables. Landscapes and architectural structures fall under the scenes category while digitalized merchandise and other none architectural assets are referred to as wearables.
So, when you first decide on what you want to build, you will be better informed on the Metaverse to choose as each one has its features. Also, bear in mind that some Metaverse platforms require fees before you can submit your created asset(s) for approval of usage in the Metaverse.
2. Choose a Metaverse platform: The choice of your platform depends on what you want to build. Let's look at some top leading Metaverse platforms.
A. Decentraland: Decentraland is one of the most predominant Metaverse platforms. For you to start building on this platform (either scenes or wearables) and leveraging fully its features, you need to have Decentraland's native currency 'MANA' and a Metamask wallet.
Even if you don't have those, you can still build for fun but with limited features. If you want to create Decentraland's scenes, try out this easy-to-use builder. The builder is a visual editor tool that you can run from a browser. You don't have to make any installation to start building.
Provided your creativity is top-notch, you will always build great stuff. You can only be limited by how far your imagination takes you. After building to your taste, the scene of your choice, you have to log in to Metamask wallet or any other web-3 acceptable wallet to publish your asset.
Note that you can only publish the scene in the Decentraland's estate or LAND that you own. In a case where you don't own any, you apply for your scene to be deployed on someone else's LAND.
On the other hand, if your interest is to create customizable virtual wearables like accessories, clothing, shoes, etc. for Decentraland's avatars, that's a very good one.
Creating wearables in Decentraland requires basic knowledge of 3D modelling and it's more difficult when compared to building scenes. To see a sample of the wearable, check Decentraland's site
Additionally, NFTs represent wearables and this makes it possible for them to be recreated or minted as many times as possible.
You can sell any wearable you create as long as you have gotten approval from the curation committee to mint the wearable as an NFT. It costs $500 to submit a wearable item. This amount was decided by the Decentraland DAO?
B. The Sandbox: The Sandbox is a gaming Metaverse built on the Ethereum blockchain. As a user, you own every asset you create in the game.
The beautiful thing about the Sandbox is that someone without a coding skill or a non-tech savvy person can create, use and sell their NFTs. It also automatically converts every in-game asset you own to an NFT.
With the VoxEdit simple editor, users can do the following in the Sandbox gaming Metaverse;
C. Somnium Space: The Somnium Space Metaverse lets you build assets without coding skills. For you to start building, you need to download an editor tool steam so you can use the drag-and-drop feature.
Note that building in this Metaverse requires you to own LAND. One unique thing about Somnium Space is that it has easy-to-use audio and video options.
D. Cryptovoxels: Cryptovoxels is a Mine-craft inspired Metaverse built on the Ethereum blockchain. In this Metaverse, you can create avatars and NFTs, buy virtual land and build on it using Voxel Builder which allows you to create and edit 3D Voxel graphics on a browser.
If you don't own a virtual land, you can still explore what to build in Cryptovoxels via Free Space. Even though these Free Spaces are not within the Cryptovoxels virtual world, you can still build voxel scenes there and import what you have built on Voxel art editors.
In as much as you can still build without outrightly owning a virtual land, it is best to buy virtual land and build your assets.
Meanwhile, other compatible Voxel building programs you can leverage to build on Cryptovoxels are Goxel, MagicaVoxel and Voxelshop.
3. Start to create: After you have successfully achieved steps 1 and 2, you are good to start creating. If you have very little or no experience in creating 3D models, then you need to learn and practice well to enable you to create assets of your choice.
You can start learning the basics of 3D modelling while also leveraging Decentraland's free builder for practice. YouTube and e-learning platforms like Udemy, Udacity, Coursera, etc. have tutorials on 3D design models. Do well to utilize those platforms.
At this point, it's fair enough to start talking about the investing aspect.
?How To Invest in The Metaverse
领英推荐
This section focuses on the top 5 Metaverse investment approaches. Let's dive into how to invest in the Metaverse using each approach
1. Metaverse Real Estate: This investment option takes the same approach as that of the real world where you purchase a piece of land and sell it later at a higher price. You can also use the purchased land for renting purposes.
If you want to invest in Metaverse real estate, you can start by taking a part in Metaverse projects that allow you to buy plots of virtual land. A good example of such a project is Decentraland which has an estimate of 90,000 plots of 16m x 16m land parcel (LAND)
To purchase LAND, you either use Ethereum or MANA (Decentraland's native currency) Note that the prices of each parcel of land depend on the location. Just like in real life where lands in developed areas are more expensive than ones in underdeveloped locations.
If you are looking out for a Metaverse real estate project to participate in, check out any of the following;
2. Metaverse Games: This is another sharp investment with Sandbox and Decentraland being the top Metaverse platforms leading the cause. I termed it a 'sharp investment' because the growth trajectory has been quite exponential for over a year.
One of the attractive features of the Metaverse games is the play-to-earn model which allows gamers to earn rewards in the Metaverse native currency while playing. Below is a list of Metaverse games to explore.
You might want to start your exploration with Battle Infinity because it is making the news recently and many investors are looking to buy it.
3. Metaverse Stocks: Investors who prefer the equity market over that of the crypto like to invest in Metaverse stock. Also, someone who is a beginner in the market might prefer to go into Metaverse stock investment first because buying stock is beginner friendly.
The top 5 Metaverse stocks to invest in are;
Investing in Metaverse stocks is a good way to increase the growth of a specific project while giving a boost to the industry in general.
4. Metaverse NFTs: NFT has proven to be one of the well-known means of investing in the Metaverse. An amazing thing about NFT is that it provides true ownership of in-game assets. It doesn't just end there.
There are some more benefits it offers like drastically reducing cheating or hacking in the game, and trading in-game items. Battle Infinity offers this in-game trading feature. For instance, you can enter the Battle Infinity marketplace to purchase an avatar outfit using Battle Infinity's native token IBAT.
The NFT's price is influenced by the demand and supply factors. The more the Metaverse's user base grows, the NFT's scarcity gradually rises thereby increasing the value of the NFT. Looking for which Metaverse NFT to start with,? you can choose from the list below
5. Metaverse Crypto: This is the last approach on how to invest in the Metaverse covered in this article. Every Metaverse project uses crypto described by its native tokens. These native tokens are used in different ways which include but are not limited to;
I. Transactions: When you want to buy an item from the in-world marketplace, you make use of the Metaverse tokens. The sellers of these virtual items can exchange their Metaverse crypto for another digital currency.
II. Staking: In crypto staking, you lock the tokens for a specific period. This is in a bid to yield more tokens for the holders and it also increases the security level of the system.
III. Governance: The governance system for many Metaverse projects is DAO (Decentralized Autonomous Organisation) This means that those who govern the platform are the token holders.
The tokens they hold give them voting power to decide what happens in the system. If for example, there are proposals A, B and C for a particular DAO project and one has to be chosen, the token holders will vote and the one with the highest vote gets approved.
Some cool Metaverse cryptocurrencies to consider for investment include;
?Pay Attention Closely
Building and investing in the Metaverse or doing any of the two yield monetary rewards. It's no doubt that the Metaverse has mega money-making opportunities. The question is can you make mega money from it? It's easy to say yes but in reality, it's more like an uncertain situation.
To make it certain, always have the words of Christian Byza at the back of your mind. During the interview session I had with him on the Metaverse concept, he said "if you want to make money in the Metaverse, you don't only invest your time, you need to provide value".
It is this value creation that will take you to the mega level. There are so many insightful things he shared during the session including how to build and invest in the Metaverse you wouldn't want to miss out on.
Aside from building and investing in the Metaverse which yields money in return, offering your skills can also make you good money in the Metaverse. You might be wondering if there are special skills you need to acquire for the Metaverse.
I do wonder like you too but then the response Udoka A.M gave when I asked him about the skills people should learn in readiness for Metaverse disruption during an interview session with him was satisfying.
You need to hear it yourself alongside other interesting Q/A we shared in the Metaverse conversations That reminds me, I said earlier that I will direct you to where you can get premium training on web 3-oriented skills at zero cost.
Do hop into the EkoLance platform to signup for training. Also, follow them via EkoLance for relevant updates.
One more thing.....
To have an exciting experience in navigating through the Metaverse, stay glued to THE HUB platform.
Which investment option and Metaverse platform would you be exploring first? Do well to share your response in the comment section.