Real estate transactions in the Metaverse seem like a fuzzy concept, but will they benefit humanity or make addiction to personal technology worse?

The metaverse may just be a hyperbolic take on virtual social reality, but it’s emerging as the hotspot for multi-million dollar real estate investments in virtual land, even if investors can’t live. in these virtual spaces. With the explosion of the term “Metaverse” – especially after Facebook’s rebranding to “Meta” – tech companies are starting to claim a stake in the revolution. Of course, this revolution may just be the first step towards more immersive computing or the digital renaissance that many artists claim to be. But one obvious thing is that virtual worlds are getting exciting enough for million dollar real estate deals. Or could it just be another mode of crypto trading?

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Virtual real estate has attracted investors and technopreneurs since the NFT (non-fungible token) boom. Earlier this year, artist Krista Kim sold a digital home as NFT, and it was valued at 288 ethers, or nearly $ 500,000. The house is part of a metaverse, just like the one Facebook intends to create – or one of many where users can interact in virtual reality. Decentraland is another metaverse or virtual world that allows users to co-create, explore, and interact with each other.

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The most recent virtual land purchase took place at Decentraland and was valued at $ 2.43 million, the highest of its kind to date. In a press release, a company called Metaverse Group – owned by Tokens.com – confirmed that it purchased a domain in the center of the fashion district of Decentraland for 618,000 mana (the cryptocurrency used in the Metaverse). The Metaverse Group wants to use this investment to have a stronghold in Decentraland’s digital fashion industry, allowing users to choose outfits for their virtual avatars. Of course, none of this is free, and while businesses can be seen as early visionaries in a promising new world, there can be disastrous and unmistakable implications for users as well.

Selling in Metaverse has consequences, both good and bad

Decentraland

Decentraland

Even without deep rumination, it’s not hard to draw a parallel between a metaverse like Decentraland and social media platforms. One of the primitive ways of looking at this deal is as an investment in the advertising landscape. Platforms like these, in general, should allow users to exist in their carefully curated digital personas, which can have both good and bad results. By starting with the vouchers, users can find a way to express themselves through their digital egos, especially with the properties they buy, make friends, and shop in the comfort of their own homes (real ones). . Users can choose to visit any location or event, check the weather, and select who can join. The metaverse can allow the user to exclude the unsought, carefully consume the good news, and stay away from any bad news.

In contrast, a metaverse like Decentraland could become a loophole for users, much like social media. The power to carefully choose the character could lead users to ultimately feel depersonalized and removed from their real lives. Ultimately, addiction to AR (augmented reality) could become as bad as addiction to smartphones. Users can simply buy digital assets in the Metaverse for fear of running out (FOMO). Those who are unable to purchase digital assets may feel discouraged or even become depressed or anxious. It could be even worse when Big Tech lets go and tries to change the odds in their favor. At this point, it might not take long for tech companies to develop a large conglomerate that controls not one but all of the metaverse. This could prevent users from creating or managing their own digital spaces and limit access to virtual spaces, making them more exclusive so that they can earn more money.

In the decades to come, Apple will have completely replaced smartphones with AR. As a result, the boundaries between virtual and real worlds will disappear and more users may find it more convenient to pay to upgrade their avatars instead of working on themselves. Whether this proliferation of the digital world has good or bad results on humanity and its reason is – alas – only for the time being.

Next: Disbanded Facebook Team Who Revealed Their Platform Addiction Issue

Source: Tokens.com

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