Rec Room
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Things I Still Don’t Understand: Pricey Metaverse Real Estate
Last year I expressed (in uncharacteristically understated fashion) my inability to understand why people were paying up for metaverse real estate. The real-world dynamics crystalized in mantras like “location, location, location” and “they’re not making more of it” simply don’t apply to virtual real estate. But that hasn’t stopped promoters from using the hammer of…
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Things I Don’t Understand: Pricey Metaverse Real Estate
Virtual real estate isn’t a new concept. Second Life has been selling virtual land for almost two decades. It is not a big business. And you may have forgotten that IBM really kicked off its 21st century pageant of overpromising and then utterly underdelivering (see SmartCloud, Watson, IBM Blockchain, IBM Cloud and seemingly now moving…