The billionaire crypto investor Mark Cuban does not like the idea of digital land. In an interview Altcoin Daily on YouTube, he spoke about Metaverse digital land and the issue he has with it.
The Issue With Buying Digital Land
Being one of the wealthiest men and also a well-known advocate on Web3, Mark Cuban addressed his issues with the Metaverse digital land space hype in interview with Altcoin Daily just last week. “The worst is that people buy real estate in these places. That’s just the dumbest sh*t ever,” this was said in the interview video.
Mark Cuban also talked about the scarcity of metaverse land in relations to the value of the plots. He added, “It’s not even as good as a URL or an ENS (Ethereum naming service) because there are unlimited volumes you can create.”
Real Estate Sale by Yuga Labs Was ‘Dumb’
You may know Yuga Labs to be the owner of the well-known NFT collections – Bored Ape Yacht Club and Cryptopunks. But more importantly, Mark Cuban is an investor in Yuga Labs.
In April this year, there was news that around $317 million was raised via land sales by Yuga Labs for an expansive metaverse platform. Mark Cuban said he was not a fan of digital land sales. He also said, “I still thought it was dumb to do the real estate. That was great money for them, but it wasn’t based on utility.”
We are definitely curious to see if Mark Cuban will have a change of opinion as the Metaverse continues to grow and evolve further in the future. For more NFT news, follow NFTeller.