Mark Cuban called the "stupidest" decision to buy real estate in the metaverse

Billionaire Mark Cuban in the Altcoin Daily podcast called the “stupidest” idea of ​​​​buying land, mansions and otherreal estate in virtual worlds.

In his opinion, such a model is not viable due to the possibility of creating an unlimited number of houses, clubs and other structures in the metaverses.

“After, not before, you createcommunity, you will be able to find places depending on its device, which may have a generally accepted value due to access [to something unique] or something. But before that, the traditional real estate model [in the metaverses] is the dumbest garbage,” Cuban explained.

The investor added that the creators of the metaverses make good money in this, but without a community, such projects are of no use.

“They call it real estate, but it's really just an access token. Just a marketing nomenclature, ”said the billionaire.

Read about what the metaverse is in ForkLog educational cards.

In February, Italian fashion house Gucci acquired a virtual site in The Sandbox metaverse. 

Previously, land in the same project next door to American rapper Snoop Dogg was sold for 70,903 SAND ($458,038 at the time of the deal).

Recall that Ethereum co-founder Vitalik Buterin said that existing attempts by corporations to create a metaverse are doomed to failure.

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