Billions spent on land rush for the Metaverse
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Fake money for fake land. That's fitting.
Seriously though, why would anyone spend a penny on a parcel of land in a video game? They can always just add more or open a new server or something. Without any real scarcity this so-called "property" has no value.
It reminds me of the dot com rush in the late 90's.
Speculation. They might want to sell it later when the price goes up. Now, videogames are one of the riskiest investments and speculating in digital goods inside a single game is really irresponsible, but people do it.
The makers of the "game" wouldn't let it be infinite and have no value, obviously.
They want a working marketplace.
I think there's a question of what, if anything, will amount to adjacency that would make some parcels more valuable than others. If you can teleport (and why wouldn't you be able to?), maybe it doesn't matter. I can see land having a small cryptocurrency value as a recording fee, just like any cryptocurrency transaction. But not scarcity as we currently envision it.
Zuckerberg got what he deserved for listening to women with not one, but two noserings.
Reminds me of late 2006/ early 2007 when most of these companies rushed to get into Secondlife thinking it was going to be the next big thing. Almost all of them were gone within a year and Secondlife never became anything more than a crude sex simulator for around 40,000 neckbeards and wine aunts.
The irony being Secondlife literally had the concept and name Metaverse as well yet zero lessons look to have been learned.
But they applied the new coolest thing, cryptocurrency, to it. Anything + cryptocurrency, as we know = millions
Articles like this one are rather ... disconcerting. Large parts of society have completely lost touch with reality.
I can't tell is this a scam or a money laundering exercise, feels like either of them or both.
HAHAHAHA! Oh my god, this is the best news ever. I can't wait for it to fold and delete all the worthless shit these losers have wasted money on.