WATCH: An investor earned about $5,000 after a few hours of playing in a metaverse. He explains the top 3 ways to rake in crypto from these new platforms, and which metaverses to do it in.

By January 10, 2022The Sandbox
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Block street with Laila Maidan and Logan Welbaum

Block street with Laila Maidan and Logan Welbaum

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  • Ex-Facebook and Google employee Logan Welbaum is a digital landlord in the metaverse.
  • His properties in Decentraland and The Sandbox have appreciated rapidly, judging from nearby sales.
  • He discussed the risks involved in earning crypto this way, and the metaverses he recommends.

Logan Welbaum first got involved in the metaverse by becoming a digital landlord.

He bought property in Decentraland and The Sandbox, and both appear to have appreciated substantially. For example, he paid the equivalent of just under $2,000 in MANA, Decentraland's token, for his property there. The virtual land, which is considered a non-fungible token, may now be worth more than $40,000, based on recent selling prices of lots next to his.

That's just one way to participate in the metaverse, the crypto-powered virtual realm that Facebook's recent rebrand thrust into the spotlight. But it remains a pricey and risky way to invest. In an interview with Insider, Welbaum shared alternative ways of earning crypto through play-to-earn challenges, and by designing NFT-based products and putting them up for sale.

He recently spent a few hours playing in The Sandbox and earned 1,000 SAND, which was equivalent to about $5,050 based on SAND's trading price of around $5.05. Insider viewed a screenshot of his account that showed his earnings.

The Sandbox has not yet fully released its play-to-earn options to the public. They are conducting rollouts of the beta version and granting users early passes such as the Alpha Pass. This allows users to try out the games and earn crypto. Welbaum said he won by applying for the contest. And while being a landowner increased his chances, anyone with an account could win a pass.

Some users are selling their passes on the secondary market. But Welbaum said that if you follow this metaverse's social accounts, you will be kept up to date about when the next pass releases will be given out.

In the meantime, the game offers additional ways of earning SAND. Those who stake their SAND and MATIC tokens into a liquidity pool and then stake with Sandbox will have access to additional token rewards. Participating in this option may be an additional way to be able to afford property in this metaverse.

There are numerous metaverses that also provide ways of earning passive tokens, including allowing a player to have digital businesses, but these are also in beta version. Welbaum talked about all the metaverses he suggests investors should consider.

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