Innovative Metaverse lending platform, LandWorks, has added an extra layer of passive income to its rental model. Starting today, February 13, users can earn passive income from LandWorks billboards, essentially allowing NFT owners to earn returns as soon as they list any asset on their platform.
LandWorks is an exciting protocol run by EnterDAO that allows owners to lease their virtual property and earn income, currently operating alongside Decentraland and Voxels Metaverses. Historically, the protocol has allowed landlords to lease their property for a set period and earn income. Now, however, it will also allow them to display ads on your Land, so they can get performance from the moment they publish articles on your platform.
LandWorks’ goal is to create new opportunities for Metaverse owners, and has partnered with Precision X to make this goal a reality. The platform cites two reasons why it made sense to choose Precision X as a partner: first, the protocol truly believes in the imminent future of the Metaverse, which aligns with its vision; and secondly, Precision X has experience in the advertising industry. The platform’s network spans across major brands and agencies, so LandWorks hopes this partnership can bring Web2 business to the Metaverse. After all, there will be plenty of opportunities for these entities to host events promoting their products and even advertise via billboards on these rented parcels of land.
LandWorks will activate passive earnings on the listed property
Beginning February 13, anyone who lists their property in LandWorks will be eligible for passive income, even if no one has leased the land yet. This is due to the ability to opt out of advertisements which can then be placed in a designated package.
Advertisers can place billboards on a given property and the owners will receive compensation for each unique view of the ad. For every person who views the billboard, the owners will receive 0.025 USDC. However, if they have a Sharded Mind NFT, the reward will be doubled, increasing to 0.05 USDC. These rewards will accumulate and can be claimed at the end of each monthly period. However, those currently renting properties within the LandWorks ecosystem will need to opt-in for the update to take effect.
Additionally, to prevent people from tinkering with the system, LandWorks will use Precision X to track each unique view. Essentially, making sure that you record the engagement of every new user who views the billboard, regardless of the number of times it happens.
From launch, the new earning and advertising options will only apply to the Decentraland Metaverse, however more virtual worlds will adopt the initiative at a later date.
Overall, LandWorks offers a nifty way to empower their community by offering owners an additional layer of monetization while advertisers have the opportunity to participate in this new immersive Web3 ecosystem.
Learn more about LandWorks’ passive income initiative >> Here
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*All investment/financial opinions expressed by NFT Plazas come from the personal research and experience of our site moderators and are intended for educational purposes only. People are required to fully research any product before making any type of investment.
Basil is an avid fan of blockchain technology and all its innovations, and he is passionate about sharing this narrative with his audience. He has spent over five years in the crypto space, specializing in research and creating Web3 content for various media outlets around the world.
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