How much real money would you pay for a virtual plot of land? Developing technology is introducing everyone in the real world to new, virtual worlds, like Decentraland. In this metaverse economy, users are buying virtual real estate at high value – and it’s not just the average Joe that’s looking to invest. Company’s like Facebook are betting big.
Further reading:
Al Jazeera
Economist
BBC
Irish Times
Wired
UK Tech News
The Verge
Subscribe to Cheddar on YouTube:
Connect with Cheddar!
On Facebook:
On Twitter:
On Instagram:
On Cheddar.com:
Correction: At 0:40, it is stated that the Ethereum blockchain settled $2.5tr of transactions in Q2 of 2021. The correct number is $777.1bn
This is all getting out of hand. lol. What’s next
EMP hits
Anyone seen adventure time where most humans were in pods wearing vr headsets. This is where it all started.
Sure, spend millions on a fucking virtual game, while in the real world you have people living on the streets and people starving
Shows how stupid people are…
THIS IS A FUCKING WASTE
This would work if there was just 1 massive world size game but these are spread over multiple games and not worth it. Until there’s a proper high quality vr/ar world that is dedicated to being the main game for decades long, it’s not worth it
but how does ine become a real estate agent in the metaverse.
I make huge profits on my metaverse investment since i started trading with STELLAKATRINA, her trading strategies are top notch.
Honestly at this point id rather we lived in an age with no internet. This is getting out of hand and exhausting to keep up with
There is a site called IVMU,,,, it’s a one dimensional platform that you play on your desktop, and you can do everything on it from Vineland, meeting a girl and getting married, going to the dance club, joining different groups, and yes you can go shopping for everything but it cost money to buy the tokens in order to purchase a gift people, saw this Meta-verse concept is gonna get old really fast
This is disgusting. There are real living children on this planet living on $5 a week. Stop wasting your money on fake trash and help people or animals.
this is the future
Seems like a pyramid scheme
metaverse is the end of humanity
How to make real state nfts
I want it to be like Ready Player One, bUt LiKe NoT tHe BaD pArT tHoUgH…
Okay or you want to own everything and turn people into mindless slaves that do little to nothing outside the Metaverse.
I thought I was the only one that thought this is just absurd. Thankfully the comment section seems to agree as well. I mean the metaverse has a future, sure… as a communication tool, but buying "real" estate at $90,000. Idk…
can i sell weed in the meta verse and the king of the canabis industry?
can i create the next china or the next nyc?
This is literally insane times we are living in and it will only get worse. What will happen is that you’ll eventually get these universes charging a monthly “maintenance fee” aka tax on anyone owning plots of land where you’ll have to pay just to access the “universe” so they can continue to “improve” their virtual world.
You’ll then start seeing energy and water companies charging you per 1*1 of land you own to have a “virtually functioning house. Then you’ll get McDonalds making virtual cheeseburgers to keep your virtual avatar from dying/Game Over. Then for those of us who like to gamble, aka everyone currently on the platform, the likes of MGM setting up its Own Virtual Vegas where you can sip on a nice cold virtual beverage whilst losing “virtual”, sorry real, money on Roulette. Oh and how could I forget the car manufacturers selling the granddaddy of environmentally friendly vehicles, the top of the line virtual cars for your crib. The worlds gone mad!
Good luck to all of those “investing” into virtual “assets”. I’ll stick to investing into the “old and traditional” assets, that last time I checked, we humans still need to survive in, such as a roof over our head. Unless of course we are in a simulation, then congrats, you win… 🏆
LOL, he said an NFT is unique unlike a dollar bill for example. Actually every piece of physical currency has a serial number is unique. By the way it has real value too. I think I would rather live in the real world and not have my financial life virtually hacked and wiped out instantly. There is absolutely no regulatory laws in any of this NFT crap. Complete SCAM at this point.
My grandad always said "Invest in land, because God ain't making any more it" Thanks be to fuck, he isnt around to see these god damn nerds making a liar of him
Is it really so stupid as i imagine, or did i finally got so old that i got out of touch?
What happens when you want to switch to another game? or the servers goes down? not so great then huh? Are you gonna have to store everything on a giant server from now on in your home ? I guess im just a fud not wanting to play around in 5fps of shitty streets
"no big company pulling the strings". The most laughable statement concerning crypto that has ever been made. Who do you think owns the exchanges? the apps? the bulk of coins. This is so funny and out of touch with reality.
Why? because we live in a bubble and people are stupid. video should have been 30 sec. rich people will always show that they have more money than you.
New generation is going so far. Wtf is wrong with this world ? Whats wrong with human beings ? Millions are suffering due to poverty, and yet stupid people buying expensive house on virtual life. What a shitty world we are living in it
What's the game engine they are using?
We have ppl hungry and struggling and they spend millions on fake worlds🤨. It's all Demonic just wait for the devilish ideas they have in store for this.
What do we actually want? (Pizza, I know : ), but what else?)
We are at the beginning of the next big step,
a whole new dimension of interconnectedness is emerging: the metaverse,
the next stage of the Internet, the next great digital revolution.
The question that now inevitably arises for us is:
What do we actually want?
Facebook, now Meta, recently announced its vision of this new digital world,
numerous other corporations also delivered concepts, and now it's up to us to choose,
but to do so, we first need to clarify the one central question:
What do we actually want?
Do we want a metaverse that spies on us, listens to us and controls us
knowing more about us than our best friends, our family, ourselves?
Do we want a world that has been commercialized down to the very last corner
full of alternative-less continuous advertising and senselessly overpriced NFTs?
To be honest, I still don't understand why, for example, digital building land is being
sold for real money, when it can be duplicated for free,
I thought that was the great thing about the Internet: Sharing things increases them
not diminish them, so why exclude people, why limit creativity?
Do we want a world full of hate and agitation?
Do we want pay-to-win, lootboxes, digital gambling, digital one-armed bandits?
The concept of the metaverse is not without reason often explained on the basis of computer games:
Meet friends, play and have fun in digital space.
And numerous companies themselves have also presented plans for their metaverse,
but it is important to remember: these are the same companies
who, in the past, have always put their own profit before the interests of the player,
why should they do it differently in the future?
Do we want a world dominated by large corporations,
which think only of their share prices, of the bankers, stockbrokers and hedge funds?
Facebook and Co had their chance, we were all able to see what the result was.
When following current events, it is already noticeable,
that many familiar mistakes from the early days of the Internet are threatening to repeat themselves,
Monopolies, created by network effects, control the Internet
and, as we increasingly spend our daily lives in the digital space, our real lives as well.
Whoever creates a digital world has power, just as it does with the real world.
The question now is to whom we want to grant this power; the question is:
What do we actually want? What kind of future do we actually want?
Shouldn't decisions in the digital realm be made democratically, as they are in the real world?
Shouldn't the power belong to the users?
We are faced with a choice, what kind of future do we want?
Do we want to leave the field to large corporations
or do we want to take our fate into our own hands?
I cannot (and do not want to) imagine being the only one who looks for a better (digital) future
and have therefore been working on concrete ideas for this for quite some time.
We want an open metaverse, a metaverse by the people for the people.
We want a democratic metaverse, in which all decisions are made by elections
by the users themselves, in which all positions are given by the users through elections too.
We want to create trust through openness, absolute transparency and clear communication.
We want a metaverse that is open to everyone,
regardless of income and ability to pay.
We want a metaverse in which everyone is free to express themselves
and where creativity is unrestricted, is limitless.
We want a metaverse in which everyone can freely contribute,
to which everyone can contribute his own part, we don't want to create just any digital space,
we want to create, together with you, all united, our common (digital) future.
We want to realize the best ideas in the world together with you,
we want to serve you, we want to serve the users, we want to serve humanity.
Yes, I am also just some generic guy from the Internet,
not very good at anything, but fortunately this is really not about me,
it's about us, it's about the idea and if you like the idea, participate!
Join us! Let's create a better world together!
Alone we may each be just some random guys,
but together we have the potential, we have the power to change the world!
Get involved, every single snippet of code, every line of text, 2D and 3D art,
every pixel drawn, every tiny contribution, every step no matter how small
brings us all together closer to the goal.
You are busy with all kinds of things and really don't have time?
Then support the project with a donation!
Network with us on social media (#TramannGroup),
make suggestions, express criticism, give feedback,
because only this way it is possible for all of us to constantly improve and grow together.
(Discord: https://discord.gg/bZskXT8N7t
Twitter: https://twitter.com/Tramann_Group
Youtube: https://www.youtube.com/channel/UCBrp9sds534STEL6HLMR8zQ)
Make suggestions, talk and network with like-minded people
and last but not least: spread the idea, so as many people as possible can get to know about it
and can get the chance to participate and build with all of us our common metaverse.
Share this article, share this text and talk about it with others!
Together we can change the world!
At the end of the day everything comes down to real dollar bills. If I don't have real life money my imagination is worthless and can't get me anything in your virtual world. This is simply a scam to take real money for something completely worthless.
This is like a laggy version of Roblox this sucks
Hey Cheddar! Amazing video about the meta-verse. I really like how you walk this through and it’s so amazing it was only like less than 11 minutes. You took us on a great journey in this episode. I am a real estate agent in Las Vegas with a channel that helps provide educational information to homebuyers and home sellers. I’m thinking of doing a piece on the meta- verse and how it affects real world real estate. I was reading some articles the other day about the meta-verse and found that $501 million was invested into the real estate in the meta-verse. I was absolutely shocked! So that got me to thinking what is the difference between meta-verse real estate and physical real estate. Obviously one is digital and one is a real world piece of land or a house. So the curiosity is why would somebody spend so much money in the matter versus if they don’t yet own a house, or if they do why would they want to spend thousands of dollars in the meta-verse? Definitely fascinating stuff and would love your perspective on it if you have a chance to read this comment. Please feel free to reach out anytime. Sending you positive vibes everything goes your way and keep crushing the amazing content!
In finance, the greater fool theory suggests that one can sometimes make money through the purchase of overvalued assets — items with a purchase price drastically exceeding the intrinsic value — if those assets can later be resold at an even higher price.
In this context, one "fool" might pay for an overpriced asset, hoping that he can sell it to an even "greater fool" and make a profit. This only works as long as there are new "greater fools" willing to pay higher and higher prices for the asset. Eventually, investors can no longer deny that the price is out of touch with reality, at which point a sell-off can cause the price to drop significantly until it is closer to its fair value, which in some cases could be zero.
So glad not only one who thinks this is pathetic