After expressing his support for the cryptocurrency Dogecoin, billionaire investor Mark Cuban came forward to criticize the purchase of real estate in the Metaverse as the most stupid thing! Let's see what Mark Cuban has to say about the Metaverse.
Mark Cuban was interviewed by the crypto YouTube channel Altcoin Daily on Sunday with various topics discussed including the possibility or lack of making purchases of virtual assets in the world of Metaverse.
According to his view, using money to buy digital land in the metaverse is not a good move.
It is well known that Cuban is a big fan of cryptocurrencies and is an investor in Yuga Labs, owner of popular NFT collections such as Bored Ape Yacht Club. And he also last May said a comparison of crypto with the early emergence of the internet.
But he still stands by his stance saying that buying virtual real estate in the metaverse is the most stupid thing to do. Metaverse only gives huge profits to individuals who sell such virtual properties but it is not based on utility.
In reality, real estate is very valuable in the physical world because land is a limited resource but that scarcity doesn't necessarily need to be used in the metaverse. Mark Cuban also stated that in the virtual world there is an unlimited volume that can be created.
In theory, the metaverse is said to be a vast digital world that allows many individuals to interact through digital avatars equipped with AR glasses and VR headsets.
But it's been a year since the hype towards the metaverse has been decreasing since November 2021, including the world of cryptocurrencies entering a bearish market phase.
Following on from this, Cuban said on Altcoin Daily that now most people are just talking more about the metaverse but there is no progress.
