Mark Cuban Calls This Kind Of Investment The “Dumbest S**t Ever’

    Published on:

    Mark CubanThe billionaire investor and owner of the Dallas Mavericks recently voiced his negative opinion about certain types of real estate.

    In an interview with the Altcoin Daily YouTube channel, Cuban called people buying properties on metaverse platforms such as Sandbox and Decentraland “the dumbest ever.”

    Cuban added that the metaverse real estate concept could be successful after a community has been formed around it, but would be useless if it was based on a traditional real estate approach before the concept was proven. . This billionaire sentiment comes at a time when the hype surrounding the digital universe seems to be fading away.

    The “Shark Tank” star owns physical assets, including a Dallas mansion he purchased in 1999 for $13 million and a $19 million mansion in Laguna Beach, California he purchased in 2018.

    but real estate ownership It’s not just for the wealthy. new company It made it possible for individual investors to enter the housing market. only $100. Here it is how to get started By acquiring individual shares in rental properties for passive income, build long-term wealth.

    For those who don’t know, metaverse platforms like Sandbox allow investors to buy land as NFTs. NFTs can be developed with virtual buildings and experiences and resold on secondary markets such as NFT exchange OpenSea.

    However, according to high seas, sandbox land is down 81.82% from its January 2022 peak. At peak trading volume he was $9.5 million, but at the time of writing it was just $202,986.

    Virtual land could be a viable investment for brands looking to build social experiences like Adidas and Nike, but it’s still a riskier crypto asset than anything akin to investing in physical real estate. .

    According to Cuban, who remains an avid proponent of cryptocurrencies and other Web3 technologies, the Metaverse is still the most talked about topic.

    Metaverse real estate isn’t doing well at the moment, but the idea of ​​the Metaverse as a new virtual world where people can shop, hang out, and play with others is still of interest to many.

    Companies such as Sandbox and Decentraland sell digital plots of land to users. Users can buy, sell, or lease space and use it to build virtual structures.

    In theory, the same two principles as physical real estate give value to land in the metaverse: rarity and location. However, it may not apply to metaverse lands, as rarity cannot be introduced artificially.

    See more about Benzinga.

    Photo courtesy: Joe Sia at shutterstock

    Don’t miss real-time stock alerts – join us benzinga pro For free! Try tools that help you make smarter, faster and better investments.

    This article Mark Cuban calls this kind of investment ‘the most ridiculous thing ever’ originally appeared


    © 2023 Benzinga does not provide investment advice. all rights reserved.


    Leave a Reply

    Please enter your comment!
    Please enter your name here