© Reuters. Mark Cuban mocks real estate investments in the metaverse
Mark Cuban, the famous American billionaire and Shark Tank investor, has mocked buying land in the Metaverse as a “super, mega, perfectly dumb” idea. Speaking on the Altcoin Daily podcast, the crypto enthusiast said that while the metaverse can help facilitate a sense of community and has its place in the growth of the Web 3.0 space, people shouldn’t consider buying from digital real estate in the metaverse.
Additionally, Cuban insisted that using a traditional real estate model when searching for land in Metaverse is a “super dumb” idea.
The metaverse fostering a sense of community
Defining the metaverse as “whatever you want it to be,” Cuban said that when it comes to crypto and the metaverse, “it all comes down to the community,” highlighting crucial questions for those looking to build on: “Where can you build community and what is the impact of community.”
“There are a thousand ways to have a community, and technology is going to impact that community.”
Whichever platform is able to create the biggest community will benefit the most, insisted Cuban, who recently invested in Polygon, and is known for backing , Ether, and more in the past.
on the reverse
- The real estate market in the metaverse has suffered a slump, with virtual land seeing steep price drops.
Why You Should Care
YouTube and Twitter (NYSE:) users in the comments section seemed to largely agree with Cuba’s assertion, with real estate investing in the metaverse becoming one running joke among many.
Watch the full interview here.