House speculation fever in the Metaverse: a set of virtual sea-view houses is priced at 200,000 yuan

According to Hong Kong media reports, on the morning of December 9, Zheng Zhigang, a Hong Kong real estate giant and CEO of New World Development Group, announced an investment in the Metaverse virtual world game “The Sandbox”, buying one of the largest digital plots in The Sandbox, hoping to build ” Innovation Center” to showcase the commercial success of new ventures in the Greater Bay Area. According to people familiar with the matter, Zheng Zhigang’s investment in this virtual land is about 5 million U.S. dollars (about 32 million yuan).

It is reported that Zheng Zhigang will display 10 characteristic companies on this virtual land, including diagnostics and genetic testing developer Prenetics, logistics unicorn Lalamove, technology accessories brand Casetify, etc. These companies are all related to New World Development and Zheng Zhigang’s venture capital investment. The company has a connection or partnership. He also said that these startups will launch NFT, immersive experiences and entertainment.

Recently, the virtual land of Metaverse has attracted celebrities to invest, and the amount of “land speculation” is also staggering. The “housing price” in Metaverse is even higher than that in reality, which is very “magical”.

Regarding the phenomenon of Metaverse real estate speculation, the People’s Daily commented that the risk of heat to the point of scalding should be prevented. The comments pointed out that new things are bound to accompany new risks.

Participating in the “Metaverse real estate speculation”, is it a wealth opportunity or a cut leek?

The price of a virtual sea-view house is 200,000 yuan. Metaverse also speculates in real estate?

“What happens in the physical world will also appear in Metaverse.” Yu Chen, the co-founder of Epay, told the reporter of “China Economic Weekly”. He is also one of the authors of the book “Metaverse Token”. According to his description, in this virtual world, you can buy real estate, hold parties, shop, work, and perform artistic creations. These behaviors are very similar to the real world. “What you do in the physical world can be done again in the Metaverse; things that cannot be done in the physical world can also be done in the Metaverse, because the Metaverse has no physical constraints,” he said.

As a rigid need of the real world, “living” also extends to the Metaverse world. Buy a piece of virtual land first when you enter the Metaverse, which has become a “get rich experience” among some populations.

According to foreign media reports, when Decentraland, a virtual world based on the Ethereum blockchain, was auctioned for the first time in 2017, some plots sold for about US$20, and only 4 years later, the resale price has reached hundreds of thousands of US dollars. .

Recently, Tianxiaxiu Digital Technology Group launched its research and development virtual social Metaverse APP-Honnverse Hong Kong, open to the first batch of users to log in. Two weeks after the product was launched, the number of appointments for testing has exceeded 130,000. When the online limited edition virtual real estate booking activity was opened a few days ago, the server crashed due to the large number of participants.

According to the official news of Tianxia Show, the “Rainbow Universe” platform will issue a total of 350,000 virtual houses. These virtual houses have 13 types of houses according to the different topography of planet P. The circulation and scarcity of each type of house are different. The level of the house varies from High to low is divided into SSS, SS, S, A, B, the higher the level, the more rare.

House speculation fever in the Metaverse: a set of virtual sea-view houses is priced at 200,000 yuan

At present, on some second-hand trading platforms, the prices of some “scarce real estate” of Rainbow Universe are constantly being raised. On November 21, the reporter logged into the Xianyu APP and found that a set of Hong Kong Universe’s “SS Ring Sea Island” virtual real estate with a rarity of 0.12% was listed at a price of 100,000 yuan, and someone bid 120,000 yuan below. More users have listed a set of virtual real estate “SS Sea Island” with “Land Deed Number Top 5” with a price tag of 200,000 yuan. As of November 22, 3 people “want”.

A Weibo user who seized the virtual real estate of Rainbow Universe posted a post saying: “I built a rough house in Rainbow Universe, which is now worth several thousand. During this period, the concept of Metaverse has been very popular. I have seen this set in the past few months. Can the house rise to several million, if it can rise to several million, I will sell it to buy a house in Beijing.”

Regarding the current hype behavior of the company’s virtual real estate, Tianxia Show publicly stated: “We do not support or encourage it. As a laboratory product, Rainbow Universe still has greater uncertainty. I hope users can Treat it rationally.”

Real-world houses are physical spatial entities that can be used for living. Once the existence of this kind of entity is called a virtual name, it may feel a little impractical. What is the use of such virtual real estate?

It is reported that, similar to the real estate in the physical world, the land of Metaverse can be created, invested, owned, leased, and sold by users in the virtual world. It can be used as a living space, as well as a commercial and working space. For example, in the virtual world Decentraland based on the Ethereum blockchain, after users purchase virtual real estate, they can build and operate enterprises on this virtual land, such as nightclubs that charge other users access fees, stores that sell virtual goods, and so on.

In Metaverse, geographic location and supporting facilities are often the most important factors affecting the price of virtual real estate. In Decentraland, land close to popular areas is usually more valuable than other land, and if good supporting shops or facilities are built around a land, the price of the land can also increase—all the same as in the real world.

According to foreign media reports, when South Korean youth buy a house in Metaverse World, the real-world land in Gangnam District of Seoul, which is located in the center of the city, is still the most popular in the virtual world.

House speculation fever in the Metaverse: a set of virtual sea-view houses is priced at 200,000 yuan

The chaos of “cutting leeks” in the currency circle reappears in the Metaverse boom?

“Not only real estate, but many commodities that can be speculated in real life are constantly being speculated as NFTs in Metaverse.” Panda, who has been in the digital asset industry for many years, told reporters.

The so-called NFT is the abbreviation of Non-Fungible Tokens, which means non-homogeneous tokens. It is a data unit on the blockchain digital ledger. Each token can represent a unique digital data. Since they are not interchangeable, non-homogeneous tokens can represent digital files, such as paintings, sounds, videos, items in games, or other forms of creative works. Although the documents (works) themselves can be copied indefinitely, the tokens representing them can be tracked on the underlying blockchain to provide buyers with proof of ownership.

Simply put, NFT converts digital art and other commodities into unique and verifiable assets, which are easy to trade on the blockchain. And this unique attribute also gives NFT the characteristics of combining with art.

In March of this year, an illustrator Beeple’s digital artwork, a picture called “everyday: the first 5000 days” (everyday: the first 5000 days), sold for a sky-high price of $63.9 million at a Christie’s auction. This picture is a collage of Beeple’s daily paintings for the past 13 years. After being made into NFT, this picture started at $100 and finally sold for 700,000 times the price.

In my country, Justin Sun, the former founder of the currency circle “Nongchaoer” TRON, recently stated on social media that he bought the NFT WeChat avatar for $10.5 million, which immediately set off public opinion.

Panda told reporters that after the Metaverse fire this year, he was pulled into a WeChat group called “Metaverse Expedition”. According to him, people in this group often publish NFT-related information and invite members to “do tasks to upgrade NFT artwork.” “The so-called “task” generally requires members to forward and promote to attract traffic, and then they will continue to promote some online promotion activities to hype the price of this NFT.” Panda told reporters.

“It’s the same thing as art auctions. The dealers flipped hands, bid up prices, and the platform earned fees, and finally everyone cut the leeks together. But at any rate, the art has artistic value. Now many NFT artworks are shoddy and shoddy.” Panda said .

In this regard, Dr. Long Baitao, an independent researcher on blockchain and monetary finance, holds a different view. He believes that “creating value based on consensus” is essentially a deflationary model, traditional luxury goods, Bitcoin, most digital currencies (now can add digital art such as NFT), as well as traditional MLM and Ponzi finance Scams all have the characteristics of a deflationary economic model. “We recognize that within a certain range, the deflationary economic model has its rationality and necessity, such as the luxury goods industry, but it cannot be used as a basic guiding economic model for a large-scale economic system. For example, the development of human society will not With the development of productivity, the production of grain is deliberately reduced, thereby pushing up the price of grain. This is an unreasonable economic model.”

In addition, Long Baitao believes that NFTs and digital artworks are reasonable and necessary for their existence, but they cannot exist as large-scale economic phenomena. “Just like in an economic system, there are physical parts and virtual parts, but if the weight of the virtual part exceeds the weight of the physical part, the economy will eventually collapse. A society will not continue to raise its prices because everyone participates in the hype of NFT, and creates More wealth. NFT and digital art are just a means to redistribute wealth. Everything is possible to make latecomers more convincing and comfortable to take over at a higher price.”

Before this year, the concept of Metaverse was only discussed in a small circle of science and technology circles. At that time, there was not even the translation of “Metaverse”, but it was called “super meta domain.” The major node that made it the focus was the soaring Roblox (RBLX. NYSE), known as the “first stock of the Metaverse.”

“The primary reason is the’wealth effect.'” Xing Jie, the author of “Metaverse Token” and chairman of Youshi Capital, told China Economic Weekly.

In the first half of this year, the news of Roblox’s skyrocketing greatly stimulated the domestic capital market. The concept of Metaverse began to appear at a high frequency, and related concept stocks also ushered in the rise. The data shows that from September 1st to November 17th, the average growth rate of 85 concept stocks in the A-share market was 24%; 31 stocks rose more than 20% cumulatively, and 14 stocks rose more than 50% cumulatively.

According to Xing Jie, the popular path of Metaverse is the capital circle-the Internet-the masses. Originally used as a science fiction concept, the most discussed in our country is not the science and technology circle, but the capital circle. In this regard, Zhao Guodong, secretary general of the Zhongguancun Big Data Industry Alliance, said in an interview with reporters that there are two main reasons: one is that my country’s application market is larger and there are more opportunities; the other is that my country’s current accumulation of related technologies is not sufficient.

Prior to this, the surge in the stock prices of a number of Metaverse concept stocks has aroused the attention of regulators. According to incomplete statistics from the media, since November, many companies such as Zhongqingbao, Shengtian Network, Tianxia Show, Dafu Technology, and Yishang Display have received letters of concern or inquiries issued by the Shanghai and Shenzhen exchanges.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/house-speculation-fever-in-the-metaverse-a-set-of-virtual-sea-view-houses-is-priced-at-200000-yuan/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

Like (1)
Donate Buy me a coffee Buy me a coffee
Previous 2021-12-11 08:07
Next 2021-12-11 08:11

Related articles