- Investor Mark Cuban said buying metaverse land is "the dumbest shit ever."
- Virtual real estate exploded in popularity last year, with companies like Sandbox selling property.
Billionaire investor $4 is out on digital land purchases.
The "Shark Tank" star spoke to the crypto YouTube channel $4 on Sunday about a range of topics, including the feasibility — or lack thereof — of buying virtual property in the metaverse.
"The worst part is that people are buying real estate in these places," Cuban said, as $4 first noted. "That's just the dumbest shit ever."
Companies like Sandbox — $4 — and Decentraland $4 who can then buy, sell, or lease the space, or use it to build virtual structures.
What gives metaverse land value, in theory, is the same two principles of physical real estate: scarcity and location. However, experts told Insider in January $4
That's an idea that Cuban shares, too.
"It's not even as good as a URL or an ENS, because there's unlimited volumes that you can create," Cuban told Altcoin Daily, referring to $4, which have become a lucrative market.
Instead, $4 like Adidas and Nike looking to build social experiences, Janine Yorio, the CEO of metaverse real estate company Republic Realm, told Insider in January. And it's $4 than it is anything similar to investing in physical real estate.
The metaverse crashed into the limelight late last year when $4 for his pinwheel of projects like Instagram and WhatsApp, a move designed to reflect the tech giant's contributions to building out the futuristic technology.
In theory, $4 where people can interact via digital avatars, while tethered to the real world with AR glasses and VR headsets. But despite the year-long hype, it's nowhere close to materializing, and it's seen a dip in interest and sales since November 2021 along with the rest of the crypto world.
"Right now it's more talk than anything," Cuban told Altcoin Daily.
Cuban may not be a fan of metaverse land, but he's still a vocal supporter of crypto and other Web3 technologies — he has invested in Yuga Labs, which owns the popular Bored Ape Yacht Club NFT collection, and $4, noting that the best projects will survive the ongoing crypto winter.
"People dismissed the net just like they are crypto," Cuban $4