Mark Cuban is an investor and Shark Tank star who also owns the Dallas Mavericks. However, he remains skeptical about the idea of the metaverse. In a recent interview, when asked about the definition of the metaverse, Cuban stated that the metaverse was “anything you want it to be,” declaring that buying land in the metaverse was the “dumbest sh*t ever.”
Mark Cuban Mocks Current Metaverse Iteration
For many, the idea of the metaverse is a source of doubt. Mark Cuban from Shark Tank, owner of Dallas Mavericks, and also a member of the National Basketball Association (NBA), ridiculed the idea that the metaverse could exist in any form anyone wishes. Cuban said:
People who are focused on [virtual reality]VR wants it to become the metaverse. Some want Web3 the metaverse. It is not clear why.
Cuban says that the concept of the metaverse, if realized, will prove difficult because it requires standardization and interoperability among different communities. Cuban believes the metaverse must be supported by a community. The platforms that build strong communities will create one metaverse.
Metaverse real estate
Cuban also attacked the idea of purchasing land on the metaverse. He referred to this as the “dumbest sh*t ever,” declaring:
Because you have unlimited volume, it isn’t as effective as an URL and an ENS.
He said that in order for structures to have any value they must first be supported by communities and their activities. Access to these places and how it values them will determine the value of these places.
The metaverse’s real estate market has seen a boom and is expected to continue growing. Metametric Solutions, a metaverse analytics company Metametric Solutions estimates that the total sale price of metaverse real estate will reach $1 billion in this year.
Technavio released a metaverse report in July that predicted these sales would grow to $5 billion by 2026. This is due to the adoption of virtual reality solutions as well as the rise of cryptocurrency.
What do you think about Mark Cuban’s take on the current concept of the metaverse and his opinion about buying digital land? Leave a comment below.
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