How to become a metaverse real estate agent?

How to become a real estate agent in metaverse

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How to become a metaverse real estate agent? I know that this may seem ridiculous but purchasing virtual real estate is now a thing. The obvious question is “how is someone supposed to live in a piece of virtual real estate?” Well, they cannot but you can hang a sign on your unique property that is in one of these “metaverses”

How to become a metaverse real estate agent

Let’s explore the history of what is called the “metaverse”. Metaverse was first recognized in the 1992 science fiction novel “Snow Crash” as a word combination of “meta” and “universe”. It is often linked to the advancing virtual reality technology. People and data companies like Meta want this to happen. “Web3” is also another buzzword related to the concept of a decentralized iteration of the internet. Uncoupling people from the searchable internet and directing them to a virtual world may be the next iteration of the “net”.

Interconnectivity has been advancing since the public has had access to the internet. We have never had access to this kind of information. Arguments can be made that this has been a gift to mankind. One can also say, it has been a Pandora’s Box of maladies as well.

How to become a real estate agent in metaverse?

Further iterations of the internet are creating virtual spaces. People can interact with celebrities or their favorite brands. Influencers and advertisers are finding ways to further brand awareness and to sell products.

Like real estate IRL (in real life) the metaverses of the world are going to need guides. They will be necessary to show the layman how to engage with this new world. If you master how to navigate and buy this real estate, you will become valuable. Creating a community, and showcasing digital products, or services will have value.

become a real estate agent at meraverse

The blockchain is intriguing as new technology and may hold promise for investment. Many will want to exploit these ecosystems for commercial interests. If there will be attention, advertisers will want a piece of it.

Entrepreneurs will maximize the opportunity by becoming early adopters of the opportunity. Think of the leverage of being an early adopter as some did with Bitcoin or other cryptocurrencies. Even though volatile, the possibility will exist to reach a massive amount of people.  There is no need to drive down a street to see your sign  or searching your brand or service on a browser.

Become a real estate agent in metaverse

There are two main ecosystems at this point. The first is a sandbox. game. This is the largest virtual world today as far as volume transactions. It had about 65,000 transactions that amounted to $350 million in 2021 alone.

The second-largest virtual real estate platform is Decentraland. This platform saw around 21,000 transactions that had a total of $110 million last year.

Virtual real estate is available in many metaverses. Both Decentraland and Sandbox virtual parcels are called LAND. The parcels are NFTs (non fungible tokens) which implies uniqueness.

What does this mean?

This nascent technology has been brought on by the gaming community. These ecosystems have a loyal following with high levels of engagement. Entrepreneurs seek to expand these groups to advertising. These groups would like to expand their following with exclusive offers. It’s all about the money. Big money will follow engagement. If these endeavors prove to attract engagement.  Virtual real estate (with built in scarcity) will become more and more valuable.

Depending on the metaverse, virtual parcels can be a marketplace to sell NFT’s. They can be decorated with art NFTs or used as a place to host events or a place to build play-to-earn games and earn.

For both worlds, the average amount invested in virtual land was $5,300. It started with $100 per land in January 2021 and ballooned to $15,000 each in December 2021. The period between November 2021 and January 2022 saw 8,000 lands sold monthly at roughly $13,000 (or 3.5 Ethereum) per transaction.

So, people and companies are starting to pay attention.

What are the benefits?

The benefits relate to engagement. Influencers and advertisers want to be in front of as many people as possible. You might buy a property next to Snoop Dogg’s virtual club. You might be Snoop Dogg and offer exclusive access to your club. Blockchain technology allows your property to be unique to all others. By this logic, your location is one of a kind and thus scarce and valuable.

Portfolio diversification. If you have a high tolerance for risk, there is the possibility of diversifying your portfolio. As with volatile investment vehicles, those that risk the most, gain the most. There is also the possibility of losing your initial investment. If you are a broker of virtual real estate, you can make yourself more valuable by helping people navigate the risk of this type of investment.

Passive Income. One can rent out their well located property for someone to advertise on or wholesale a property. An agent can help others after they understand the value. This may become a viable income stream that one could be on the ground floor of. Study the game and use the rules of the game to your advantage.

Profitability – the digital world is offering the world cheaper and faster connectivity. This efficiency is offering the world the possibility of increased profitability. The need for brick and mortar storefronts will have serious competition. The transition to digital marketplaces suggests that digital real estate will be here to stay. The income potential seems to be scalable and profitable if you invest the time to learn about this new technology.

What are the risks? The Cons of Investing in Digital Land.

More internet addiction and sedentary lifestyles. If everything exists in a digital format, we won’t move our bones. There also seems to be the possibility of becoming addicted to the internet.

Unlike buying rental property, investing in virtual real estate comes with the following risks:

Very Volatile

Because it is new and digital, virtual real estate is a high risk enterprise. If things go sideways, your income will be affected.

Technological Prerequisites

The requirements to enter this world will be too much for some. This could also be another benefit for becoming an agent or consultant for virtual real estate.

Tech-Savviness Required

If you have these skills, your value will increase to those that want to be involved in this arena.

For example, the volatility is because of changes in technology and algorithms. Digital real estate investors need to learn about the trends to be able to succeed. If you’re not willing to put in the necessary hours to acquire the necessary skills, you may need to involve the services of those who have. If you are the person that puts in the work, you have a chance to be an early adopter in this new industry.

Related FAQs

How to become a real estate agent quickly?

The fastest way to become a real estate agent quickly is to contact an approved education provider in the state that you wish to practice in. Sign up for the required training, pass the exit exam, and sign up with an approved testing facility to pass the state required exam. While you are completing the required training, review your options for a sponsoring broker and consider meeting with a few brokers for the purpose of choosing a sponsoring broker. After passing your state exam, complete the required paperwork, list the name of your sponsoring broker, and send the application to the state. 

How to become an expert real estate agent?

The best way to become an expert real estate agent is to engage in the practice of real estate. There is no substitute for real world experience. Additionally, commit to becoming a lifelong learner. Continually educate yourself on the topic pertaining to real estate, productivity, and the economy. Lastly, develop an affinity for the trade and helping your clients. 

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