Metaverse is a new frontier for earning passive income

When new technologies and platforms are created, there are incredible discovery phases in which economic activity eventually picks up and starts taking shape. The metaverse is arguably in that discovery phase, with many entrepreneurs finding ways to earn passive income on it.

As economic activity in the metaverse rises, new passive income opportunities are seemingly being created on a regular basis, as are opportunities to actively earn income. While what works and what doesn’t is still up for debate, there are some in the vanguard of metaverse passive income.

What is the metaverse?

Before digging into passive income opportunities in the metaverse, it’s first important to analyze what is actually is. The term “metaverse” has been one of the most popular buzzwords in the Web3 space over the last few months, while millions are moved in digital economies focusing on it.

The word “metaverse” comes from Neal Stephenson’s 1992 cyberpunk sci-fi novel Snow Crash. In the Web3 space, the term is used to describe a digital world where people actually own the assets within it.

The metaverse differs from past digital worlds, like those created in video games, through the use of nonfungible tokens (NFTs). These unique blockchain-based tokens can be freely traded by users but cannot be duplicated or copied. What can be done in the metaverse is still being explored, but so far, real businesses have been created within these metaverses.

Another defining characteristic of the metaverse is interoperability. Virtual worlds like that of popular videogame Roblox could be thought of as metaverses, but unlike the new, blockchain-based iterations, players don’t exercise control or ownership over their assets.

Various companies have been moving into the metaverse, with Walmart seemingly gearing up to enter the space, while fashion brands like Ralph Lauren and Gucci have signaled that virtual clothes could be a major growth area for them. Companies are entering the space as it grows rapidly and is expected to become an $800 billion industry within two years.

Given the potential size, earning passive income in the space could be a great opportunity. Taking advantage of passive income opportunities can be easy for those already deep into the metaverse, but how long each opportunity will allow entrepreneurs to earn isn’t clear.

Renting out metaverse land

One of the most well-known ways of earning passive income in the metaverse is by owning property in it and renting it…