Now and then, the world goes through transitions that make people realize that they need to change their way of life. The most recent experience that has given people a new view of life was the Covid-19 pandemic. During the pandemic, most workplaces were closed down, and people had to work from home or stay at home doing nothing. Most of the people who benefited or were not affected much by the situation were people who already worked from home and had passive income that made them money while they were at home. Most people learned that they had to adapt to the current technological advancements to ensure their financial security in the future.
As a result of the pandemic, there has been an increase in investment all over the world. People are investing in assets that can make passive income for them. Some people choose to invest their money into hard assets such as real estate, while others invest their money into stocks. Due to the investments made into the sector, there has been a 32% increase in people investing in housing and 84% in investments made into stocks. Many of the people investing in housing wanted to get away from the hustle they struggled with trying to raise rent without jobs, while the increase in stocks was a result of people looking for alternative channels to earn money.
One of the investment options that many people decide to pursue is digital assets. Digital assets are the easiest assets to acquire and have seen the largest growth in the last years. While other assets increase or appreciate at less than 10% per year, some digital assets increased by over 100% per year, and others achieve higher growth in a shorter duration. The ability to make more money in a shorter period led to people investing their savings into digital assets. Since the beginning of the pandemic, there has been a 600% growth or increase in the number of people who adopted and invested their money into Bitcoin. Over currencies had a higher growth rate at 2000%.
The digital assets boom has developed better technology to provide something for the huge market. As a result of the increase in people willing and able to spend their money on digital assets, there have been huge investments on other platforms such as Metaverse and Non-Fungible Tokens, also known as NFTs. Metaverse is a virtual reality world where people can make money and buy land and property. Recently, there was a story about a parcel of land next to Snoop Dogg’s property on the Metaverse selling for $450,000. Considering this is virtual land and people are still willing to pay this much, people might be living and making money on the Metaverse shortly. What is even crazier is how much people are willing to pay for NFTs. Currently, most of the people purchasing NFTs buy art developed through technology. More can be done with the technology, but since this is what is currently available, people are buying them at a premium. The highest selling NFT cost over $11 million.
