- Investor Mark Cuban mocks the concept of the Metaverse.
- Metaverse should be supported by a community if it wants to get realized.
- By this year, the sale of real estate in Metaverse is expected to reach $ Billion.
When we talk about Metaverse in general, it is referred to as futuristic and much more of science fiction or a hypothetical illustration of the internet. But investor, and owner of the Dallas Mavericks, Mark Cuban, is skeptical about the idea of the Metaverse.
He mocked the current concept of the Metaverse. The idea of the Metaverse is a concept of doubt for many individuals out there.
People that focus on [virtual reality] VR want it to be the Metaverse. Others want Web3 to be the Metaverse. Unfortunately, there is no reason to it yet.
As per the Shark Tank star Cuban, this concept and idea of Metaverse will not be an easy task to execute, as the theory requires regularity and coordination between the different communities.
Cuban believes that if Metaverse has to be realized, it must be backed and supported by a community, and it will be based on the platform with the most substantial community.
Adding further to his statement, he also condemned the objective of buying land in the Metaverse, mentioning that per him purchasing real estate on these platforms is not a wise decision. He referred to it as the “dumbest sh*t ever,” declaring:
It is not even as good as an URL or an ENS because there are unlimited volumes that you can create.
For these formations to have some worth and merit, they initially need a community that supports them and their activities. Now depending on how the community values them, these places will have their worth and value.
Although, the real state concept is currently on a high tide in the Metaverse and is expected to grow more in the short term, as per a few reports.
As per a metaverse analytics firm, the trading of real estate in the Metaverse is projected to reach $ 1 billion this year.