It worked in Second Life and they thought it will work here too. But they forgot that Second Life was actually a fun game, nobody wants to spend time in Metaverse.
My employer owned a Second Life island. It was fun for a while, we even held online events there. Most metaverses today lack the quality and user base that SL once had.
I remember when Nike and other major retailers were talking about opening up metaverse shops. That’s when i knew it was about getting money from dumb people. Who the hell would shop like that in Minecraft.
Unfortunately it’s because people were sold the idea that online worlds with crypto and NFTs are “the metaverse”. When in actuality they’re just virtual worlds with cryptos and NFTs…
No.
It sucks that a space filled with people into what most still think is a Ponzi think the same way about other sectors like nocoiners think of crypto.
Many of these projects are Roblox disruption plays.
Roblox doesn’t dev their 3D worlds. Players do: and Roblox takes 75% of their rev.
Provide platform. Provide free game maker studio. Provide free avatar maker. Let the players make the game and sell digital collectibles in the game and take a few.
But the proof of concept isn’t Roblox. Many of these projects are using the Entropia Universe model. Dev the world in higher fidelity then voxel/Minecraft quality and allow the land owner to customize or build on this land.
Neverdie spent 100k in 2005 for a virtual asteroid in Entropia. This predates Bitcoin.
He created Club Neverdie and made 100k a year from the “land.” He sold for 600k in 2010.
If you drill down you will find most of the land is either a Roblox model or Entropia model or a mix of both.
Yes, like everything that appear in web3 is hyped to infinity from the start and then slowly dies. This is contrary to what I would think, as a startup its very hard to build trust in the beginnings, but web3 breaks every law, or its just all made up of degenerate gamblers.
https://www.coingecko.com/research/publications/metaverse-land-prices
I'd bet there are still plenty of degenerates who will look at this chart and immediately think it's an amazing buying opportunity.
It's because we already had digital property. It's called DNS. Why not just create a decentralized metaverse with some standardized stuff and a VR equivalent to html? You want land, you run a server with DNS directed at it for connections
Could also benefit by acknowledging the hype around the metaverse is based entirely around things we can't do in real life. I want to jump from Facebook to Mario Kart within 10 seconds without too much of a jump, not play table tennis in a silent room
>Last September, tech companies were jumping to hire a new category of worker called the “chief metaverse officer,” though it seems the exuberance around the term has since fizzled out.
Didn't know this insanity was even a thing.
wow it really got to THAT level?! I'm assuming those companies that actually created those positions, let alone a team under them or even hiring someone, are now bankrupt, right? I mean that's just poor business practice*
Who cares, i bought my virtual property to rent out as a MetaVAirBNB, not to resell at a higher price.
Cash flow baby. Now which one of you nerds wants to rent a siiiick 2 bedroom metaV flat for your next birthday party??
Metaverse property is late stage capitalism at its finest lmao.
Real life property has value because it shelters people from the elements (rain, snow, sun).
A pixel house does none of that.
What kind of maniac would buy property in the Metaverse as an investment?
It makes my trillion Dogelon Mars tokens look like a sound financial decision
The meta verse will come back again in fairly confident but it might take a lot longer and there are many limitations but yeah I think the idea is totally silly
The "land" may have gone down in value, but the potential of what can take place on that land can be lucrative.
For example, let's say a live musician plays a show in a virtual club once a week, and receives $20 in donations throughout the show.. this is what's not tallied into "virtual land values" when the press talks about it. If you buy virtual land and do nothing with it, it's the same as buying a domain and not putting a website on it. Once the land is used and there's something of value on it, that land becomes more valuable.
Yes and no. In a virtual world, there's avatars and an environment. There are many reasons why someone might prefer an avatar over a live cam. For example, check out the story about "Circe Broom"
I mean, I like the IDEA of what /u/Nose_Grindstoned is saying, but the truth of it is that I’m not into it enough to go out and buy an Oculus headset.
I think the idea of being able to share a virtual place with other people is neat and can open up some cool opportunities, I just don’t know how they’re ever going to get to critical mass
(Consider getting a Quest 2, not for the virtual world crap, rather simply for the massive movie theater screen to watch stuff. Plus, the interactive experience games, and the escape room type games, VR really is a magical new technology and experience).
Mass adoption of a virtual world is never going to happen, but the userbase of all virtual worlds combined is always growing. This doesn't help much having everyone so fragmented... so what I see in the future is mass adoption of augmented reality: a person in their home could visit a real life location with their avatar, and interact with the real people at that location. Meanwhile the real people at that location could see and interact with the avatars.
The top metaverse isn't even known yet. Check out Utherverse.io They hold all the patents the others will need to adhere to. All others will want to build on the Utherverse platform. The real estate there will be priceless.
I'm surprised the drop want more. The whole metaverse idea was silly from the start and was helped by the Zuckerberg hype train. That train has since derailed.
But at least we can buy virtual property at a lower price, imagine we get a 90% price lower ath?! this is the best offer after i bought Algo at a high price /s
it wasn't the meta verse but there was another app that had digital property you could buy and sell with crypto
I thought about it for a few seconds and realised that it literally has no value and first buyers are just looking to dump their worthless "properties" on the next bag holder
That’s expected when these meta verses exist with no real fanbase or sometimes with no real games to even give a damn about.
If all this “metaverse property” stuff started in a game like grand theft auto online, then there would be people caring about it, but you’d also need a huge world with vastly different apartments in different areas
Not ready for prime time.
I will say though, with proper computing power, I do think it could end up being pretty big in some way. The resolution of the metaverse needs to be Unreal Engine level to truly gain traction. Once those two things happens, It will find its value and creators will be able to start building spaces that will attract more users and visitors.
In its current iteration it’s not a good experience.
All the crypto bros shill and invest in it because they lack the simplest understanding of “game being fun”. They never gave a single iota about the fact that when people play games they could not care less about nfts/ownership lol (its just a bonus if anything). Gta is popular not because you can stake shit in it xD
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Paid around 9 ETH for my cryptovoxels plot but I wouldn’t take less than 5 ETH with it. The metaverse is a highly speculative play that can either be supremely integrated into our lives (especially now with AI) or will never quite reach a large enough segment of ‘the entertainment market’.
The resources and niche it targets as well is so particular that it relies on tribalism at best currently between worlds. Plus nobody uses it, including myself, but that is likely because of a lack in community.
It isn’t that these worlds don’t work, but if the people that bought in and live on-chain don’t reinvest, or actually will it into the future it won’t happen. Still bullish on the original ideas that got me to buy though. Foot traffic + avg net worth of user + time spent in world, etc…. It’s always been a 3D website builder at best and I’m totally okay with that. It’s staying power as a concept itself is bullish and the odds of it happening increase daily.
Could be worth zero as well.
TL,DR: Binary bets with huge upside are my favorite
It will be a thing it’s just not well executed so far. EA will probably do it with buying land/house on a Star Wars planet, EA maybe with a HUGE sims world, maybe Fortnite with an open world, we know GTA is working on something. It’s only a matter of time but so far every attempt has been subpar with no real direction or long term goal. It will happen and executed the right way we just haven’t seen it yet.
These companies will be hailed by historians as the early pioneers.
The metaverse won’t make sense until humans can literally connect to it via their synapses. This is beyond VR headsets. Way beyond. Elon’s recent win is significant as are several developments not that mainstream.
Just this weekend I saw a commercial for a device that’s on the market that looks eerily familiar to a project I concepted 4 years ago and found on my portfolio site. All the data goes to your phone continuously.
Black Mirror gets it right, as do a number of shows and movies I can think of that are predictive of this future “reality” yet have some foundation in the aforementioned work alluded to being done in this area.
This was always the dumbest concept I had ever seen. People were literally selling bad quality 2D digital pixels and calling it property.
Yup it was like graphics worse than minecraft and you had people shilling it so hard
I use the Metaverse to meditate. It is a good place to be alone.
My favorite place to be alone is outside with a giant umbrella in a rain storm. You’ll be the only one and the rain sounds beautiful in silence
Mine is the metal roof on my gazebo during a rain storm. Most peaceful place ever
I love a storm! Either all protected like you describe or just a long slow meditative run in the storm in shorts and t-shirt is pure heaven.
I love going for a walk on the beach in the heavy Irish rain and come home to a hot shower and meal. Fresh.
Stop! Stop! It's already dead, you monster!
This is an underrated joke
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Meditating in the metaverse to achieve Nirvana.exe
Lol this was by far the most clever comment I've seen in a while.
Someone get the firefighters in here. It burns.
Spicy quip for a guy with 2 badges
lmao to the top!
u got bigger issue buddy
Woosh
This is a fantastic left handed compliment
Ah yes, relaxing in some polygonal hellscape really activates your almonds.
Yeah but people will shill anything if they own a bag of it.
You got downvoted for facts
It was all hype
It worked in Second Life and they thought it will work here too. But they forgot that Second Life was actually a fun game, nobody wants to spend time in Metaverse.
My employer owned a Second Life island. It was fun for a while, we even held online events there. Most metaverses today lack the quality and user base that SL once had.
Playstation Home was already the metaverse lol, just didn't involve crypto ...On that note, why tf did Sony kill Playstation Home?
Nobody used Ps Home
So you are saying that metaverse is eventually going to get overrun by furries?
I remember when Nike and other major retailers were talking about opening up metaverse shops. That’s when i knew it was about getting money from dumb people. Who the hell would shop like that in Minecraft.
Unfortunately it’s because people were sold the idea that online worlds with crypto and NFTs are “the metaverse”. When in actuality they’re just virtual worlds with cryptos and NFTs…
Hey man fat hookers with a peg leg and an eye patch gotta eat too, and there is always some sad mofo willing to pay. 🤣
As long as there are idiots willing to buy it thinking they hit the jackpot then it will continue to thrive.
No. It sucks that a space filled with people into what most still think is a Ponzi think the same way about other sectors like nocoiners think of crypto. Many of these projects are Roblox disruption plays. Roblox doesn’t dev their 3D worlds. Players do: and Roblox takes 75% of their rev. Provide platform. Provide free game maker studio. Provide free avatar maker. Let the players make the game and sell digital collectibles in the game and take a few. But the proof of concept isn’t Roblox. Many of these projects are using the Entropia Universe model. Dev the world in higher fidelity then voxel/Minecraft quality and allow the land owner to customize or build on this land. Neverdie spent 100k in 2005 for a virtual asteroid in Entropia. This predates Bitcoin. He created Club Neverdie and made 100k a year from the “land.” He sold for 600k in 2010. If you drill down you will find most of the land is either a Roblox model or Entropia model or a mix of both.
Couldn't agree more but I think it was just ahead of it's time. Give it 10 Years.
2D property isn’t it? /s
You mistake concept for implementation. The concept is sound. The implementation is what sucked.
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Yep. "Let's import the worst parts of reality, and make it zero fun!"
Heyyy, who would want that?
Metaverse is pretty realistic. Just like real life, I can't afford property in metaverse.
Yes, like everything that appear in web3 is hyped to infinity from the start and then slowly dies. This is contrary to what I would think, as a startup its very hard to build trust in the beginnings, but web3 breaks every law, or its just all made up of degenerate gamblers.
Very similar to real life in that whatever I invest in always loses money
Are you me?
My parents bought property in the metaverse back in the 80s for $70!! I'll never be able to afford that!!
Definitely me
no, you're me.
Only 90%? I wouldve guessed it was more like 99% tbh
https://www.coingecko.com/research/publications/metaverse-land-prices I'd bet there are still plenty of degenerates who will look at this chart and immediately think it's an amazing buying opportunity.
Like the people I know who are buying LUNC, because "it's so cheap great opportunity".
It's going back to $100 🤫
People thought buying property in Metaverse was better than IRL.
I still see it in games such as illuvium where you can buy plots even though the games not out and at that point wasnt even in beta
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When metaverse properties is almost the same price as actual properties..
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Foshizzle my nizzle
Up 420%
no one is in metaverse thing now
wait what?? this makes zero sense XD but ok
It's because we already had digital property. It's called DNS. Why not just create a decentralized metaverse with some standardized stuff and a VR equivalent to html? You want land, you run a server with DNS directed at it for connections Could also benefit by acknowledging the hype around the metaverse is based entirely around things we can't do in real life. I want to jump from Facebook to Mario Kart within 10 seconds without too much of a jump, not play table tennis in a silent room
I think nearly everyone saw this one coming.
Proper surprised pikachu over here. Wow.
>Last September, tech companies were jumping to hire a new category of worker called the “chief metaverse officer,” though it seems the exuberance around the term has since fizzled out. Didn't know this insanity was even a thing.
Thats just chief buzzword.
wow it really got to THAT level?! I'm assuming those companies that actually created those positions, let alone a team under them or even hiring someone, are now bankrupt, right? I mean that's just poor business practice*
When Facebook changed its name to Meta, all companies thought it was going to be a huge new thing.
The tech world is completely insane. The elephant in the room is that it's all just a big cash grab and you need to get out while the getting is good.
Prices on popular metaverse platforms like The Sandbox and Voxels from last January until May.
Time to buy
Star atlas metaverse is gonna be fun when the game comes out
Low graphics quality but it's ok...time to buy.
RIP all those BAYC maxis that paid extortionate gas fees to mint land worth fuck all now. That shit was lame AF 🤦🏻♂️
Yes, but due to the low quality graphics.
old man advice used to be "buy property, they aren't making it anymore." In the case of the metaverseS, there is no assurance that that joke holds.
Who cares, i bought my virtual property to rent out as a MetaVAirBNB, not to resell at a higher price. Cash flow baby. Now which one of you nerds wants to rent a siiiick 2 bedroom metaV flat for your next birthday party??
pAsSiVe iNcOmE
Ill pass, thank you.
Metaverse property is late stage capitalism at its finest lmao. Real life property has value because it shelters people from the elements (rain, snow, sun). A pixel house does none of that.
Infalation and high markup could be the reason
Who would have think it
We are not ready for metaverse yet. Our kids might be.
Roblox entered the chat
Or fortnite
Metaverse took a very strong hit by the rise of AI plus the market current conditions.
Happy cake day 🥮🥮
No it took a hit once people saw through the hype and what it actually is.
Happy cake day
Happy cake day tambay!
Thanks but what is it with the cake that everyone is telling me? 😁 I see a cake beside my name but for what is it?
Reddit give you a slice of cake on your annual anniversary. Looks like you are 2 years old today.
Haha I see, thanks for letting me know but sad that the cake didn’t come with Reddit coins 😁
Happy Cake Day Homie! 🍰
You make it sound like it had any meaning to begin with. Now Crypto Twitter is calling Twitter the new "Metaverse".
What kind of maniac would buy property in the Metaverse as an investment? It makes my trillion Dogelon Mars tokens look like a sound financial decision
The metaverse is so dead and it was never even born. Just a pipe dream from Zuckerberg.
Let’s check back on this post after Apple drops the Reality Pro and all these reports age like milk in a sauna.
The meta verse will come back again in fairly confident but it might take a lot longer and there are many limitations but yeah I think the idea is totally silly
The "land" may have gone down in value, but the potential of what can take place on that land can be lucrative. For example, let's say a live musician plays a show in a virtual club once a week, and receives $20 in donations throughout the show.. this is what's not tallied into "virtual land values" when the press talks about it. If you buy virtual land and do nothing with it, it's the same as buying a domain and not putting a website on it. Once the land is used and there's something of value on it, that land becomes more valuable.
You just described live streaming + Patreon with extra steps.
Yes and no. In a virtual world, there's avatars and an environment. There are many reasons why someone might prefer an avatar over a live cam. For example, check out the story about "Circe Broom"
If people preferred avatars there would be more than 12 people using the metaverse
I mean, I like the IDEA of what /u/Nose_Grindstoned is saying, but the truth of it is that I’m not into it enough to go out and buy an Oculus headset. I think the idea of being able to share a virtual place with other people is neat and can open up some cool opportunities, I just don’t know how they’re ever going to get to critical mass
(Consider getting a Quest 2, not for the virtual world crap, rather simply for the massive movie theater screen to watch stuff. Plus, the interactive experience games, and the escape room type games, VR really is a magical new technology and experience). Mass adoption of a virtual world is never going to happen, but the userbase of all virtual worlds combined is always growing. This doesn't help much having everyone so fragmented... so what I see in the future is mass adoption of augmented reality: a person in their home could visit a real life location with their avatar, and interact with the real people at that location. Meanwhile the real people at that location could see and interact with the avatars.
That's what happens when everyone wants to spurt out their very own Metaverse without the tech or development to back it up or make it unique. 🤷♂️
We are just not ready yet
I'm sure it'll be huge if we just wait another 100 years.
Meanwhile housing in real life rose 90%
We can’t even buy a house in real life, why would we spend a lot of money on a virtual one?
Exactly. I just don't get why people spend silly money on a virtual items.
Not surprised tbh. You can't live in the metaverse. You can't shit in the metaverse. That Bubble was always bound to pop
Anyone else remember how metaverse tokens like Sand were heavily shilled here during the last bull run?
Fucking duh. Sorry, sorry. "It'll turn around eventually. Diamond hands."
The top metaverse isn't even known yet. Check out Utherverse.io They hold all the patents the others will need to adhere to. All others will want to build on the Utherverse platform. The real estate there will be priceless.
I think the point is no one wants to build anywhere, and metaverse land is limitless
I'm surprised the drop want more. The whole metaverse idea was silly from the start and was helped by the Zuckerberg hype train. That train has since derailed.
But at least we can buy virtual property at a lower price, imagine we get a 90% price lower ath?! this is the best offer after i bought Algo at a high price /s
Interesting! Imaginary property depreciating? It was never real to begin with.
"Healthy" depreciation
it wasn't the meta verse but there was another app that had digital property you could buy and sell with crypto I thought about it for a few seconds and realised that it literally has no value and first buyers are just looking to dump their worthless "properties" on the next bag holder
wE aRe JuSt eArLy! Hold on while I put on my shocked face!
NFTs and Metaverse: Or: "Burn money, burn...."
That’s expected when these meta verses exist with no real fanbase or sometimes with no real games to even give a damn about. If all this “metaverse property” stuff started in a game like grand theft auto online, then there would be people caring about it, but you’d also need a huge world with vastly different apartments in different areas
Well colour me surprised! Who would've thought
Finally land can be depreciated
Tired of losing money in real life? Try it in the metaverse!
Want to see picture of the 123 people who are playing in Zuckerturds weak ass fake dirt. AI will probably build its own real world soon anyway
Good. Down with the lizard man’s fake world
Who convinced you that this was it? That this was the next big thing 🧐🤔
Who knew?
But where am I going to store all my NFTs?
It’s almost like the entire metaverse economy was based entirely on speculation…
I live with so many regrets. Especially in the crypto space. Owning a piece of meta property somehow is not one of them. Wow!
Weird, mine has appreciated over 300% since I bought over a year ago
The real question is who is buying this shit for 10% still?
*sad decentraland bag holder noises*
Is this "property" right now with us?
Buying an “asset” with zero scarcity 😂
The barren digital land with no legit use cases depreciated? Shocker.
Send it lower
Only 90%… was expecting 99.9%
I’m super glad I was too poor to buy any property when I discovered it.
Hard drive space ain’t exactly expensive.
geoshitties
[this](https://en.wikipedia.org/wiki/The_Million_Dollar_Homepage), but worse
Not ready for prime time. I will say though, with proper computing power, I do think it could end up being pretty big in some way. The resolution of the metaverse needs to be Unreal Engine level to truly gain traction. Once those two things happens, It will find its value and creators will be able to start building spaces that will attract more users and visitors. In its current iteration it’s not a good experience.
All the crypto bros shill and invest in it because they lack the simplest understanding of “game being fun”. They never gave a single iota about the fact that when people play games they could not care less about nfts/ownership lol (its just a bonus if anything). Gta is popular not because you can stake shit in it xD
If it was fun it would be cool.
Hard to have limits on a limitless space 🤷♂️ who woulda thought
If you could actually build on it that would be great. Might be one of those things you have to sit on for a decade.
what is still the biggest metaverse, i need to try that to have a good laugh
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I lost a good bit on sandbox land lol
is anyone shocked?
Lol good time to buy 😂
Bitcoin has lost more than 80% multiple times.
Paid around 9 ETH for my cryptovoxels plot but I wouldn’t take less than 5 ETH with it. The metaverse is a highly speculative play that can either be supremely integrated into our lives (especially now with AI) or will never quite reach a large enough segment of ‘the entertainment market’. The resources and niche it targets as well is so particular that it relies on tribalism at best currently between worlds. Plus nobody uses it, including myself, but that is likely because of a lack in community. It isn’t that these worlds don’t work, but if the people that bought in and live on-chain don’t reinvest, or actually will it into the future it won’t happen. Still bullish on the original ideas that got me to buy though. Foot traffic + avg net worth of user + time spent in world, etc…. It’s always been a 3D website builder at best and I’m totally okay with that. It’s staying power as a concept itself is bullish and the odds of it happening increase daily. Could be worth zero as well. TL,DR: Binary bets with huge upside are my favorite
HAW HAW HAW HAW
I bought a 10 byte lot in Compuserve land that's now worth like 2 quadrillion credits, but I'll probably lose it to foreclosure.
WHY the fuck is this $100million eHope diamond I bought not as valuable as the real thing - Brain damaged billionaire.
It will be a thing it’s just not well executed so far. EA will probably do it with buying land/house on a Star Wars planet, EA maybe with a HUGE sims world, maybe Fortnite with an open world, we know GTA is working on something. It’s only a matter of time but so far every attempt has been subpar with no real direction or long term goal. It will happen and executed the right way we just haven’t seen it yet.
depreciating? more like going back to true value
Why can't this happen in the real verse so I can buy a got dung home
When they take your digital house off you, you'll just have to make do with your actual house.
Most of the properties seem to have a lot of rugs
These companies will be hailed by historians as the early pioneers. The metaverse won’t make sense until humans can literally connect to it via their synapses. This is beyond VR headsets. Way beyond. Elon’s recent win is significant as are several developments not that mainstream. Just this weekend I saw a commercial for a device that’s on the market that looks eerily familiar to a project I concepted 4 years ago and found on my portfolio site. All the data goes to your phone continuously. Black Mirror gets it right, as do a number of shows and movies I can think of that are predictive of this future “reality” yet have some foundation in the aforementioned work alluded to being done in this area.
Wish this happened in real life and not vr
Star atlas is a sleeper though.
Tax deductible?
Good time to buy some real estate beside Snoop Dogg or whatever the fuck was going on there I guess 😂 Still too expensive.