In addition to earning passive income from physical real estate, you can also generate income from virtual real estate.
Virtual real estate is online property, including domain names, websites, and online services. A virtual pub in an online game world is an example of virtual real estate.
If you’ve ever registered a domain name or created a website, then you’ve already owned some virtual real estate.
Ownership is somewhat of a grey area, both with physical and virtual real estate. I use the term loosely here. Ownership depends on how much control you have over the property, so we have a spectrum of possibilities. For instance, if you want to discover who really owns your home, stop paying your property taxes for a while and see what happens.
With virtual real estate, ownership can become especially muddled, but for the purposes of our Passive Income Challenge, what we’re really concerned with is how much power you have to monetise your property.
Suppose you have a Facebook page. We could say that Facebook owns it more than you do, and you don’t have much control over the layout and functionality. However, you still have some ability to monetise, so you could treat it like your own virtual real estate to some extent. For example, you could recommend a product with your affiliate link, and if any of your friends buys, you earn a little money. Or you could use your Facebook page to drive traffic to your other virtual properties and then monetise that traffic.
Our goal is to find multiple income streams, and the more passive the better.