To play the devil’s advocate: this did happen during the crypto rush, when huge monetary value was assigned to nothings. If you buy into the idea that a JPEG of a monkey created by some algorithm brute-forcing KiSS can be worth a small fortune - it’s not hard to see how VR “real” estate can be valuable.
Digital nothing CAN have value. Like imagine having a central plot on a long running popular Minecraft server, or having a large housing plot in final fantasy XIV, or a sick mount in WoW or any other MMO. The thing is that those are desirable not just because they’re limited, but because the game is a desirable place to begin with. Artificial scarcity with nothing backing it is useless, like monkey jpegs and beanie babies.
So if the metaverse wasn’t dogshit and actually drew in at least tens of thousands of regular users, yeah he could’ve made some money selling digital real estate. Instead, he led with “you can buy real fake land!” with no real reason other than exclusivity.
To play the devil’s advocate: this did happen during the crypto rush, when huge monetary value was assigned to nothings. If you buy into the idea that a JPEG of a monkey created by some algorithm brute-forcing KiSS can be worth a small fortune - it’s not hard to see how VR “real” estate can be valuable.
Digital nothing CAN have value. Like imagine having a central plot on a long running popular Minecraft server, or having a large housing plot in final fantasy XIV, or a sick mount in WoW or any other MMO. The thing is that those are desirable not just because they’re limited, but because the game is a desirable place to begin with. Artificial scarcity with nothing backing it is useless, like monkey jpegs and beanie babies.
So if the metaverse wasn’t dogshit and actually drew in at least tens of thousands of regular users, yeah he could’ve made some money selling digital real estate. Instead, he led with “you can buy real fake land!” with no real reason other than exclusivity.