The methods of building wealth were well-documented. Most entrepreneurs were raised on investment manuals by such luminaries as Warren Buffet and Robert Kiyosaki. I sure did.
While a lot of the information is still applicable and timeless, particularly in relation to investment psychology many technical details are not. The environment, including the time and location in which the books were written, is simply not present anymore.
Web 3.0 is upon us. It’s a world built around distributed ledgers, Virtual Reality, metaverses, and cryptocurrencies.
These are some ways you can position yourself to create sustainable wealth in the brave new metaverse.
Long-term wealth has been the hallmark for the elites through real estate. It is easy to see why: While you might make lots of money with NFTs or cryptocurrencies, you could lose all your wealth the next. Real estate is a business that has a tendency to make profits every year. Its hallmark is stability. Even though it may have some bad years, the trend is towards long-term balance.
It does not mean setting up websites and publications online. However, some digital marketers refer this to as online real estate which is a valid concept but completely different. This is real estate in the metaverse. This area will be called “space” instead of “property”.
It’s amazing that traditional concepts can be taken and put into the metaverse. You can adapt specific spaces to create a VR experience without the need for electricity, maintenance, or building costs.
Although it sounds futuristic, this is actually happening. Megamall offers, among other things, casinos, lounges, and arcades as well as shopping centers. There are approximately 6,000 spaces available, divided into Cubes Cabins, Clubs. Chalets. Chateaus. A Cube can be purchased (in the form of NFT) and is a retail or standard fashion store. A Chateau is another option. It can be compared to a multi-story office building or a large government building.
Although we are likely to be a few years from VR headsets that are commercially available and a working metaverse in the near future, the point is that trends are here now and entrepreneurs who capitalize upon them before they become mainstream (typically while being mocked by the crowd) make huge profits.Also read: Best 12 Vocabulary Building Apps for Adults 2021?
Traditional businesses are seeking ways to enter the metaverse. Many laypeople are familiar with blockchain and cryptocurrencies, but they don’t know what these terms actually mean.
This is a great opportunity for PR and consultancy businesses to allow legacy business models to enter the metaverse. This could be done through content management, crypto custodial, and token/whitepaper creation. Cyber security is another important field and will grow in importance due to smart contract vulnerabilities. These services can be provided by businesses, allowing you to position yourself as a thought leader and domain expert in the given niche.
Business graduates and those just starting out in the business world can be useful in many ways. There are multiple stories where young people have made hundreds of thousands of dollars selling NFTs. Platforms like H3RO3S offer students the opportunity to make up to $1500 per month by performing remote and local tasks using a personal avatar. Students can interact with each other and make an income even when there are geo-restrictions. Although this platform is decentralized, it has the potential to compete with TopTal and UpWork, there are still many steps to take.
You could wait for a Market Dip to invest in a wide range of cryptocurrencies that have medium- and long-term potential, depending on your financial situation. You will miss the initial explosion of growth in Polygon token ($MATIC), but large ventures like Ankr, Solana, and Ethereum are supported by solid funding. They can be interoperable and multi-chain, as well as industry agnostic. They are also interoperable, multi-chain, and industry agnostic. This means that they might be a good investment for an investor, even if the initial jump was not made. They have the perfect industry partnerships to position themselves intelligently in the future metaverse.
These projects might be found at 33% of their ATH price. Sol traded at $80 in February 2022, down from a $260 ATH. These proof-of-stake ecosystems also offer reasonable rewards, which can increase network participation.
Compounding interest rates are the engine of wealth for long-term investors. Web3 projects offer a 1,000% annual percentage return, but this is not long-term wealth. Your exit must be planned to keep your earnings. It is common for wealth to be lost quickly. This is a common trend that has been noted by many of the top entrepreneurs around the globe. It is rooted in fundamental human psychology.
There are many ways to invest in the metaverse. It is possible to do this in the mentioned architectures (the blockchains that will build the metaverse). NFTs can be invested through a variety of platforms. By going through the whitelisting process, you can invest in multiple projects early and hope that the project tokens will rise significantly.
You can even take a classical concept like Dollar Cost Average from Benjamin Graham. You can invest a specific amount in certain coins at specified intervals regardless of market phenomena.
It doesn’t matter what investment principles you use, there is no reason to not combine them with cutting-edge metaverse innovations and make a lot of money.
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