Help me understand metaverse real estate...is it like a persistent state MMORPG virtual world with artificial scarcity? What imposes limitations to virtual land and property? The in-game currency? Is it even a game? WTF is the metaverse anyway and is it already live?
Imagine an MMO where you can buy a plot of land to put your house on. I think Ultima Online did this a billion years ago, but the more modern reference would be a Minecraft server where people can own chunks.
Now imagine that you can sell your plot of digital land to other people. And for some reason the game company decided to let a third party handle the selling, rather than making it in-house so they can like, take people's plots away if they use them to host porn or whatever.
Now imagine that somebody built the system where you can buy and sell deeds to virtual land, and people are going around selling them to each other, but nobody has actually built the game that these are attached to. But they're all sure somebody will build such a thing eventually. Even though there's no economic incentive (because a third party handles the buying and selling) and the playerbase this would attract are just a bunch of get rich quick schemers and leeches.
Ah, so it's a digital VR sandbox without functioning game mechanics? Is there a defined limit to the amount of digital land available? I don't see how the prices won't come crashing down if the developers just add more land. How were the early flippers able to get access to the digital plots?
Oh no, it's far dumber than what you're imagining. There's no digital VR sandbox at all. Just the promise that something might some day be one.
Any particular metaverse grift will promise that there's a limited amount of land, or items, or whatever the heck. But there's nothing stopping someone else from making one.
Help me understand metaverse real estate...is it like a persistent state MMORPG virtual world with artificial scarcity? What imposes limitations to virtual land and property? The in-game currency? Is it even a game? WTF is the metaverse anyway and is it already live?
Imagine an MMO where you can buy a plot of land to put your house on. I think Ultima Online did this a billion years ago, but the more modern reference would be a Minecraft server where people can own chunks.
Now imagine that you can sell your plot of digital land to other people. And for some reason the game company decided to let a third party handle the selling, rather than making it in-house so they can like, take people's plots away if they use them to host porn or whatever.
Now imagine that somebody built the system where you can buy and sell deeds to virtual land, and people are going around selling them to each other, but nobody has actually built the game that these are attached to. But they're all sure somebody will build such a thing eventually. Even though there's no economic incentive (because a third party handles the buying and selling) and the playerbase this would attract are just a bunch of get rich quick schemers and leeches.
I see an Evil Apes like grift forming
Ah, so it's a digital VR sandbox without functioning game mechanics? Is there a defined limit to the amount of digital land available? I don't see how the prices won't come crashing down if the developers just add more land. How were the early flippers able to get access to the digital plots?
Oh no, it's far dumber than what you're imagining. There's no digital VR sandbox at all. Just the promise that something might some day be one.
Any particular metaverse grift will promise that there's a limited amount of land, or items, or whatever the heck. But there's nothing stopping someone else from making one.