One major takeaway from the global shutdown during the COVID-19 pandemic is that the future is digital. During the shutdown, the world went remote and relied heavily on digital assets to perform its routine business activity, and this digital concept was no less prevalent in the real estate industry.
That is right, we have reached The Jetson Era, the future is now, and it is digital. The real estate market of our advancing world is also digital, and for a savvy investor, the time to hop into the digital marketplace is now. As Will Rogers once said, "Do not wait to buy real estate, buy real estate and wait." Sounds like it's time to think about your next piece of virtual real estate. Maybe you can be the next investing giant!
Before you hop into the exciting digital real estate market, you may have one looming question hanging over your head: What exactly is digital real estate? The term may seem rather abstract even for the most savvy of investors, so let's dive in and learn more about digital real estate.
Digital real estate
To keep it simple, digital real estate is everything you see online related to real estate. A more technical term is virtual property. So, all the websites, domain names, and URLs are forms of digital assets, and like most assets, they are worth money. Maybe the time is right to purchase your first digital asset.
Much like traditional real estate, these properties can be bought and sold on the market. Think of the social media giants, like Youtube, Twitter, Facebook, Instagram, and most recently Clubhouse; these are the landlords of the future. For many social media apps, the owners get paid when the users purchase ads (e.g. Facebook ads) or pay to boost their profile. Just like that, the landlord receives passive income, and, unlike traditional landlords, digital landlords do not have to repair leaky faucets.
While there are some differences, there also are many similarities. Just like with physical real estate, digital landowners have one of the most essential tools to winning the wealth game: ownership. Sounds a bit like the game Monopoly, I know, but this is how it works.