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'Metaverse' hype fuels booming digital property market

22 Comments
By Katy LEE

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It makes sense especially since we will never go back to the world of easy traveling.

0 ( +0 / -0 )

A distributed metaverse would allow all users to own their own digital acreage on their own systems and link them directly to other users without a central point of control, ownership or censorship.

That makes me think of how the World Wide Web started off. We can all own our own web site, and link directly to any other website, and it's all displayed in whatever browser we care to use. But the web was built on agreed specs (more or less). I find it hard to imagine the nature of the specs required for this "virtual world" that is being talked about. So, as you say, eventually a company like Facebook (or perhaps Albaleo Ltd.) is likely to own it all.

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These companies are repeating the errors and vulnerabilities of the social media companies, and will eventually be replaced by Facebook.

A distributed metaverse would allow all users to own their own digital acreage on their own systems and link them directly to other users without a central point of control, ownership or censorship.

1 ( +1 / -0 )

I'm excited to see our friends in Japan join us in earth 2.

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And we are only at the beginning of the 'metaverse'. Talking about 'metaverse' and Internet 3, I bought a number of 3G crypto-coins : 'LIKE (only 1)' and 'PRE' (presearch) now that their prices are just a few cents per coin. I will comment on them again in December 2022, if I am not down by the new variant 'Omicron'. Finally, one question comes to my mind: How could we live and express ourselves without the Hellenic words?

0 ( +0 / -0 )

Metaverse is going to be internet's prison.

0 ( +0 / -0 )

Open your wallet and look at the 10,000 yen note. Now go and put it in the shredder. How much is it worth now?

Fiat currency has no, or little, intrinsic value: the value is conferred in a promise, which is why Sterling notes read *"*I promise to pay the bearer on demand the sum of X." Likewise, the metaverse will function similarly, with people buying into a promise rather than the thing in itself (hello, Kant).

However, it does rather sounds like a rehash of Second Life to me, and we all know how that went.

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I have to agree with Comanteer on this one.

Didn't know there was a blue moon tonight. I am old enough to remember news pundits laughing at that "internet thing." The kids all understand it intuitively, and they will all be adults soon. The irony is that, if Mr. Kipling is invested in Facebook as he says, then he is also invested in the metaverse already.

1 ( +1 / -0 )

So, there are some ‘good things & good people’ from “the U.S. & the West” @TokyoLiving 8:32am ??

*- @TokyoLiving 8:32am: “brains and technology, learning from them instead of criticizing and bullying nonsense hateful words against them would be good.” *

Well then, will be looking for more of your ‘new found appreciation’ for “the U.S. & the West”..

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It's not imaginary. It's virtual

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I have to agree with Comanteer on this one.

The people who claim the internet "isn't real" are ignoring that yes, it's very real, very integrated into our lives, and will only get more integrated. It's not going away unless society collapses. Meaning that these 'not real' things are going to continue being real and things that humanity trades in indefinitely.

0 ( +1 / -1 )

Maybe my understanding is wrong but Facebook and Google are real, I own stock in both. The "imaginary land" I'm referring too, is..... imaginary.

How are Facebook and Google more real than the metaverse? They are all digital creations. By what definition of "real" do they differ?

-1 ( +1 / -2 )

Commanteer..

Your understanding is not correct. Instead of "imaginary land", try to imagine owning a piece of Google's front page. Or a square inch of Facebook's front page.

Maybe my understanding is wrong but Facebook and Google are real, I own stock in both. The "imaginary land" I'm referring too, is..... imaginary.. But we will see where this goes. I won't be making or losing any money by investing in it.

-1 ( +0 / -1 )

People often call things they don't understand foolish.

Yup, fools do that

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What a waste. But as El Rata said, if you can find the bigger fool, then why not? Just don't be that bigger fool.

-1 ( +0 / -1 )

If my understanding is correct, some people are paying huge sums of money for "imaginary land" in the hope that in the future someone else will be willing to pay even more for the "land" that doesn't exist.

This is known as the greater fool theory. 

Your understanding is not correct. Instead of "imaginary land", try to imagine owning a piece of Google's front page. Or a square inch of Facebook's front page. That "land" doesn't exist either. Yet billions of people would see it daily. Some would click on it.

How many shops in Manhattan or LA see billions of visitors in a day? They see hundreds or thousands at best. And those visitors must be physically present. A shopping street in the metaverse can welcome visitors no matter where those people live.

People often call things they don't understand foolish.

Of course, there is risk. We don't know which metaverses will come out on top. Amazon.com was just one of many bookstores on the internet once.

3 ( +3 / -0 )

I believe that the concept of the metaverse, NFT's and digital property is utter rubbish

People said that about stocks, checks, and credit and credit cards when they first came out. Even cash took a long time to adopt.

-3 ( +1 / -4 )

A bunch of teenage gamers in basements are not going to be buying Gucci bags.

This is another pump and dump of dog poo in the modern world.

Some of those kids have become millionaires with brains and technology, learning from them instead of criticizing and bullying nonsense hateful words against them would be good.

0 ( +3 / -3 )

I'm heavily invested in a few metaverse projects and they 5x my net worth in a matter of months, that said, I believe that the concept of the metaverse, NFT's and digital property is utter rubbish, as someone metioned here 'the value of nothing is nothing', but hey as long as there's a fool willing to hold my bags I won't say no to the gains.

In this space there are tons of very young people who made heaps of money quickly and are willing to waste it in whatever fad is on at the moment.

4 ( +5 / -1 )

If my understanding is correct, some people are paying huge sums of money for "imaginary land" in the hope that in the future someone else will be willing to pay even more for the "land" that doesn't exist.

This is known as the greater fool theory. Its great for the early birds in the chain but those left holding the deeds to nothing at the end will find the true value of nothing is nothing!

0 ( +3 / -3 )

A bunch of teenage gamers in basements are not going to be buying Gucci bags.

This is another pump and dump of dog poo in the modern world.

5 ( +8 / -3 )

Modern tulip bulbs

3 ( +6 / -3 )

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