Everyone here is missing the lede, which is that this is Decentraland, not Zuck's Horizon Worlds. Decentraland is one of those web3 grifts with a crypto market cap of $1.2 bil, and certainly not that much investment.
It means someone bought a share or ownership NFT or whatever in it at X maximum price. Since there are Y such shares available, the market cap is X * Y.
Basically it's just the number you get if you turn 100% of the shares into cash.
Everyone here is missing the lede, which is that this is Decentraland, not Zuck's Horizon Worlds. Decentraland is one of those web3 grifts with a crypto market cap of $1.2 bil, and certainly not that much investment.
Horizon Worlds probably has a few hundred active users; all of whose income depends on them using it and telling Zuck it's the greatest thing ever.
Does a market cap mean anything meaningful at all if that's the case?
It means someone bought a share or ownership NFT or whatever in it at X maximum price. Since there are Y such shares available, the market cap is X * Y.
Basically it's just the number you get if you turn 100% of the shares into cash.
it's finance capital bullshit of course it doesn't