Zuckerberg VS virtual real estate, the Metaverse begins again

Zuckerberg, your background is so fake

Zuckerberg’s avatar stands in the empty landscape, with a low-profile version of the Eiffel Tower and the unfinished Sagrada Familia standing behind him—a picture that has a place in the 2022 Metaverse.

Zuckerberg VS virtual real estate, the Metaverse begins again

📸️ © Baidu

The image unsurprisingly sparked a Second Life retro craze on Twitter, with people saying it looked worse than The Sims from decades ago.

That’s not the worst news for the Metaverse, though: the average price of virtual land in the Metaverse has fallen by more than 80 percent since March.

This is neither the first time Xiao Lan complains about the Metaverse of Meta, nor is it the first time to analyze why the land of the Metaverse is unreliable – but there is no way, who makes the Metaverse seem to always be able to fix some moths.

Zuckerberg made this in a year?

In fact, it’s been a terrible looking existence since Horizon Worlds went live, and it hasn’t gotten much better over the years — people’s avatars in it still look like The Sims, and they still don’t have legs.

But an embarrassing fact is that Meta has spent about $10 billion chasing its VR-centric Horizon Worlds.

What’s more embarrassing than this is that Zuckerberg has been proudly showing off these strange scenes, Xiao Lan really doesn’t understand the thinking of the lizard people very well

After all, if you are an investor in Meta, the person in charge keeps saying that the Metaverse is the future and Meta can play a huge role in it, and then they keep posting things that look fake from the background to the virtual person. Have confidence in your vision.

Zuckerberg VS virtual real estate, the Metaverse begins again

📸️ © Baidu

New York Times tech columnist Kevin Roose took to Twitter to liken the graphics to “a worse existence than a 2008 Wii game”; Slate used the term “buttcheeks”; Outrageous” and “International Laughing Stock”.

Zuckerberg, apparently seeing all the criticism, announced on Friday that a major update is coming.

On Facebook and Instagram, Zuckerberg posted a photo of what looked more advanced — and sure enough, as long as you start low enough, it’s all going uphill.

Zuckerberg VS virtual real estate, the Metaverse begins again

📸️ © Baidu

“I know this photo I posted earlier this week was pretty basic – it was taken to celebrate the launch,” Zuckerberg wrote in the caption, adding that Horizon would feature more and promising It will progress very quickly.

Xiao Lan reasonably suspects that this is also a propaganda tactic, but obviously everyone does not want to take this vision that looks like a joke compared to the joy of playing stalks.

While it’s been pushing for nearly a year, according to Forrester, only about 23 percent of U.S. adults know what the Metaverse is, and that number drops further in Germany and other European countries.

Zuckerberg VS virtual real estate, the Metaverse begins again

📸️ © Baidu

So maybe it’s not Meta’s lack of effort that the Metaverse hasn’t been able to explode, there’s a bigger question here: Whether people can figure out what they want the VR glasses to do may be the root cause.

Thankfully for Meta, the company still earns billions of dollars from the Metaverse thanks to its advertising business.

But now that it’s all in the Metaverse, the time left for Meta to transform will undoubtedly become more and more urgent – but the good news is that this is not the worst news about the Metaverse recently.

Can’t virtual real estate be so fast?

As another important part of the foreign Metaverse, virtual land for sale has always been a controversial area. Xiaolan once discussed it once. Welcome to review:

Zuckerberg VS virtual real estate, the Metaverse begins again

But it is clear that the virtual land price bubble burst sooner than expected: Transactions for virtual properties have also plummeted by more than 90% so far from their November 2021 highs, according to WeMeta, a Metaverse analysis site.

JJ Lin announced on social media in November that he had purchased three virtual real estate properties in Decentraland, one of the largest virtual real estate markets, for about $123,000.

According to current pricing data, the acquisition has already incurred an 84% loss – or JJ let’s just post some songs.

Zuckerberg VS virtual real estate, the Metaverse begins again

📸️ © Baidu

One investor who had previously considered putting the bulk of his savings into virtual land assets abandoned the idea after witnessing a downturn in the Metaverse economy, saying:

Today we (virtual real estate investors) would rather buy a tile ceiling in the real world than own a property in the virtual world. This vividly shows how our perception of the virtual world has evolved.

After all, there is a clear oversupply of land in the virtual world – multiple digital platforms have entered or plan to enter the market, creating virtual land that can theoretically be supplied indefinitely but must be artificially limited:

In May, Yuga Labs, the producer of the most well-known and respected NFT collectible Bored Ape Yacht Club, launched the highly anticipated Metaverse project Otherside, dubbed “Monkey Land” by domestic fans, with a reported total of 200,000. Blocks of virtual land for sale.

Zuckerberg VS virtual real estate, the Metaverse begins again

📸️ © Baidu

The launch immediately caused a stir in the market, making Yuga Labs an instant virtual land rising star on a par with Decentraland and The Sandbox.

Compared to individual buyers, however, large companies and institutions appear to be ignoring changes in prices because they are relatively immune to so-called “short-term volatility.”

Since last year, retail and electronics brands including Samsung, Nike and Gucci have all started buying real estate in the virtual world, and in February JPMorgan also announced the opening of a lounge in Decentraland, becoming the first to establish a presence in the Metaverse bank,

Lorne Sugarman, CEO of virtual real estate firm Metaverse Group, said in a Forbes report:

I’m not worried about falling prices as the company expects to hold properties for the next few years.

Most companies buying virtual land are more focused on long-term goals: like expanding market exposure in the digital world and attracting tech-savvy young consumers, or paving the way for future Metaverse business strategies.

Zuckerberg VS virtual real estate, the Metaverse begins again

📸️ © Baidu

This means that these world-renowned companies have a greater tolerance for cyclical losses caused by virtual real estate fluctuations, but they are not completely ignorant of returns.

The goal of early virtual real estate buyers was to be able to sell or rent their digital land to companies looking to build their avatars, but falling prices could trigger a situation where virtual land is unsaleable.

The lack of confidence caused by investors who bought at the peak now sits on land whose value has plummeted, combined with the economic downturn in the real world, will also affect brands’ willingness to spend on building virtual world influence to some extent.

Billionaire Mark Cuban has had a fiery rhetoric about companies investing in virtual real estate, describing the act of buying land in a virtual world as “super super stupid,” Cuban said:

The worst part is that people buy real estate in these places. I mean, it’s the dumbest thing ever.

Metaverse’s signboard is smashed

While it’s been a while since both events, the negative impact on the Metaverse is unlikely to just go away.

To put it bluntly, Zuckerberg and a group of Web 3.0 elites trying to sell virtual real estate in empty worlds have completely distorted the concept of the “Metaverse”.

Zuckerberg VS virtual real estate, the Metaverse begins again

📸️ © Baidu

In fact, in Xiaolan’s previous articles, many real Metaverses or virtual spaces close to them have been described:

They can be all kinds of big games that have been around for years, or Minecraft, Roblox, or even Fortnite that is closer to the Metaverse vision than the pie Zuckerberg or the Web 3.0 elite came up with.

The former basically put everything in VR, fantasizing that people would do extremely boring things in VR: like attending a business meeting or playing ping pong.

But even so, there are still a handful of users who are willing to experience, or willing to stay immersed in a virtual space after a simple experience.

The latter is looking for investment opportunities in seemingly unreliable fields such as virtual land. Anyway, there will always be a wave of people who will become big grievances, as long as that person is not himself.

Zuckerberg VS virtual real estate, the Metaverse begins again

📸️ Who is the Metaverse clown? © Baidu

In fact, Xiaolan has not opened a microphone to complain about the chaos in the Metaverse for a long time. Instead, he is looking for all kinds of new progress and new breakthroughs in the Metaverse – even if it is only a small progress.

But the reputation and prospects of the Metaverse will always depend on the large-scale enterprises or organizations, and no amount of small progress can match the impact of one major negative event, let alone two.

If there is no new thing, you can not publicize it, but don’t make a fool of yourself, that is Xiaolan’s most simple wish for Metaverse practitioners at present.

It’s just that these imperfections will become opportunities for the Metaverse, or whether they will gradually accumulate and eventually drag down this vision, Xiaolan does not know.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/zuckerberg-vs-virtual-real-estate-the-metaverse-begins-again/
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.

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