Inside the lucrative business of a metaverse landlord... Inside the lucrative business of a metaverse landlord, where monthly rent can hit $60,000 per propertyWith global brands renting space and profit margins near 70%, leasing virtual land is big business.

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In the rush to build the metaverse, Sam Huber has had a head start. “I’ve been personally buying virtual lands since 2017,” says Huber. His London-based company, Admix, has found a surprisingly lucrative business turning that virtual real estate into actual money. Working with brands ranging from McDonald’s to Pepsi to Formula One racing, Admix has been buying space in various metaverse platforms like Decentraland and the Sandbox and leasing them to companies interested in dabbling inside this new online virtual space.

Depending on the size of the space and the metaverse platform where it’s located, Huber says his company has bought virtual real estate for the equivalent of anywhere between $20,000 and $1 million recently, in the form of cryptocurrency. On the high end, building out a metaverse experience on one of those plots of land and leasing it back to a company can get monthly rents upwards of $60,000. Huber says that on some projects, Admix has pulled in profits upwards of 70%. “It’s highly profitable,” he says. Huber is likely one of the longest established metaverse landlords in this nascent business. The company is like a real estate conglomerate that develops buildings and then leases them out to clients—a business model that’s operated in the real world for thousands of years.

And just as in the real world, a metaverse real estate business is most successful when one can buy low and sell (or lease) high. Huber says the cost of virtual land has grown by a factor of five every year since he began investing. “As this continues, every single brand is going to be priced out of buying,” he says. “So if you own land today, you have a lot of flexibility and options.”[/I][/I][/I][/I]

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https://www.fastcompany.com/90749937...0-per-property