Mark Cuban not a big fan of the metaverse. The billionaire and owner of the Dallas Mavericks recently spoke out about the investments in the metaverse: Between 2020 and 2021, at the height of the fever for NFT and digital worlds, hundreds of people invested millions of dollars in land and houses made of pixels.

A short one to grab the best virtual countries on platforms like sandbox And Decentralland. Some homes – completely virtual – have sold for millions of dollars. And not just houses: but also yachts and private planes, which always exist only in the ether. Then the market broke, similar to what happened with NFTs and to a lesser extent with cryptocurrencies. Now most of these million dollar paid digital assets are worth nothing or next to nothing.

The worst thing about the metaverse is that there are people buying real estate in these “places”. It’s the dumbest shit I’ve ever heard

he said so Terribly diplomat, Mark Cuban during an interview with Altcoin Daily.

Mark Cuban first disputes the idea that the metavers are governed by the law of scarcity. On paper, any virtual world can create as much space as it makes sense to create. “It’s not like buying an internet domain or an ENS (a domain on the Ethereum network) because these assets can be created and replicated indefinitely,” he said.

Mark Cuban remains a great lover of cryptocurrencies and NFTs, so much so that he is one of the investors of the Yuga Labs, the company behind NFT’s ‘Bored Ape Yacht Club’ collection. Yuga Labs also wants to create its own metaverse: it’s called Otherside and the first virtual countries were sold in April. “I think it was a foolish idea,” Cuban noted. “They made a lot of money, I mean, but I don’t think it’s a project that is useful in itself.”

Source: Lega Nerd

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