Mark Cuban, the famous American billionaire and Shark Tank investor, has mocked the purchasing of land in the Metaverse as a “super, mega, immaculately dumb” idea. Participating in the Altcoin Daily podcast, the crypto enthusiast said that, while the metaverse may help facilitate the feeling of community, and has its place in growing the Web 3.0 space, people shouldn’t consider buying digital real estate in the metaverse.
Furthermore, Cuban insisted that using a traditional real estate model when looking at land in Metaverse is a “super dumb” idea.
The Metaverse Fostering the Feeling of Community
Defining the metaverse as “anything you want it to be”, Cuban said that, when it comes to crypto and the metaverse “it all comes down to community”, outlining the crucial questions for those looking to build on it: “Where can you create community and what is the impact of the community.”
“There is a thousand ways to have a community, and technology is going to have an impact on that community.”
The platform that is able to create the largest community will be benefit the most, insisted Cuban, who recently invested in Polygon, and is known to have backed Bitcoin, Ether, Dogecoin and more in the past.
On the Flipside
- The real estate market in the metaverse has been undergoing a crash, with virtual land seeing steep price drops.
Why You Should Care
YouTube and Twitter (NYSE:TWTR) users in the comment section largely seemed to agree with Cuban’s assertion, with real estate investment in the metaverse becoming a running joke among many.
Watch the full interview here.