From celestial riches to economic thriump, Space agencies are venturing into space resource utilization to unlock its economic potential. With the space industry rapidly expanding, there are various methods being explored to earn money from space. Let's delve into some key avenues and their associated facts:
Asteroid Mining
Collaborating with private companies like Planetary Resources and Deep Space Industries, NASA leads the way in asteroid mining. For instance, asteroid 16 Psyche, rich in iron and nickel, holds an estimated market value of over $10,000 quadrillion.
Moon Water
NASA's Artemis program aims to establish a sustainable human presence on the moon by the 2030s. Lunar water, discovered in permanently shadowed regions, is an invaluable resource. Approximately one metric ton of lunar water could be worth around $10 million, offering substantial economic prospects for future space exploration missions.
Space Tourism
Companies like SpaceX are driving space tourism initiatives. With their Starship spacecraft, SpaceX plans to enable crewed missions to Mars and transport resources back to Earth. SpaceX's valuation reached $74 billion as of August 2022.
Space-Based Solar Power
Space agencies are exploring space as a platform for energy generation. Solar System Energy aims to construct a space solar power station that can generate enough electricity to power 10 million homes. ๐๐ฅ๐ฆ
I canโt wait for these companies to go public. The anticipation now is greater than the motivation of tomorrow which makes the lucrative value of it quantitatively less relevant - maybe itโs just me or maybe itโs everyone fond the the idea of investing in the known-unknown resources from space exploration.[Thinking]
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