People are buying “virtual real estate” now??

[IGotWorms 3,406]

This NFT stuff is dumb as hell, right?? Or am I just living in the past?

 

It’s not uncommon for people to buy vacation homes they may only visit a few times a year. What about a home you never visit? And that doesn’t actually exist?

The market for digital files sold as “nonfungible tokens,” or NFTs, has exploded this year, most notably when an artwork by Beeple sold for $69.3 million at an online auction held by Christie’s in March. But real estate, architecture and design are also booming in the virtual marketplace.

Hrish Lotlikar, co-founder and chief executive of SuperWorld, an augmented reality virtual world, said the company had sold “thousands of properties” already in 2021, with users spending, on average, around $2,000 on the virtual real estate platform.

SuperWorld is geographically mapped onto the real world, divided into 64 billion plots of equal size covering the surface of the earth. So a person could theoretically own virtual land encompassing the Eiffel Tower, the Colosseum in Rome or prime commercial property in Lower Manhattan. Or if you’re nostalgically inclined, an NFT of your childhood home.

...

Marcus Fairs, the founder and editor-in-chief of Dezeen, an architecture publication that has covered the world of virtual design sold as NFTs, said many of his readers have pushed back against the trend. “We get angry commentators saying: ‘Just stop, will you?’” Mr. Fairs said. “A lot of people think it’s nonsense.”

Indeed, isn’t the most essential function of a house to provide physical shelter? What can you do with a virtual sofa if not sit on it? The practical use case is not unlike Lunar Land, the company that sells land on the moon (John Cleese, the comedian and “Monty Python” alum, recently spoofed the NFT craze, and likened it to a classic huckster sales pitch, when he offered an NFT of an iPad drawing of the Brooklyn Bridge for $69.3 million).

At this early stage, it’s hard to know whether virtual real estate and architecture is a curious fad or the future. Mr. Fairs, for one, is intrigued by the possibilities. “I do think the movement behind it is valid,” he said. “Clearly, we’re moving very quickly now to a state where a virtual world can do everything we can do in the physical world.”

If you’re scratching your head at people paying real money for virtual property in a simulated world, consider that Mars House, billed as “the first NFT digital house in the world,” recently sold for 288 Ether, or $512,000.

Krista Kim, the Toronto-based artist who designed Mars House, said she created it on an iPad last spring. She had been making what she described as “digital Zen gardens,” and Mars House, inspired by the serene and stylish architecture of Kyoto, Japan, was her actual dream home: It was designed specifically for the metaverse, the term for a shared virtual space.

 

 

https://www.google.com/amp/s/www.nytimes.com/2021/05/25/fashion/selling-virtual-real-estate.amp.html

[TimmySmith 2,782]

Like any other ponzi scheme, just don't be the last one in. 

[GutterBoy 2,365]

It just gets more and more stupid.

[fandandy 3,311]

I think there will come a time when we will be living in a virtual world more than the real world.

[RaiderHaters Revenge 3,644]

its been going on for years

Second Life rings a bell

 

[Bill E. 675]

1 minute ago, RaiderHaters Revenge said:

its been going on for years

Second Life rings a bell

 

I thought that was just a video game. 

[RaiderHaters Revenge 3,644]

1 minute ago, Bill E. said:

I thought that was just a video game. 

it is, where virtual islands have sold for 100k+

https://www.csmonitor.com/Technology/Horizons/2010/1113/Man-makes-record-335-000-in-Entropia-Universe-virtual-real-estate-deal#:~:text=They are completely fictional.,multiplayer online game (MMO).

 

[Meglamaniac 380]

Based on the description of your 'new house' I just assumed everyone here thought you were already dealing in virtual real estate

[Djgb13 2,338]

So...what exactly does it do? 
 

 

[IGotWorms 3,406]

4 minutes ago, Meglamaniac said:

Based on the description of your 'new house' I just assumed everyone here thought you were already dealing in virtual real estate

No that’s just fake. Which may or may not be the same as virtual, I’m not sure  

[Big Guy 1,400]

why not? There are virtual / fictional elections

[Herbivore 916]

7 minutes ago, Big Guy said:

why not? There are virtual / fictional elections

are there virtual tears?

[Utilit99 4,099]

10 minutes ago, Herbivore said:

are there virtual tears?

2018. But don't worry, she's happy now with all the 10s of thousands of kids in cages.

 

[Utilit99 4,099]

13 minutes ago, Herbivore said:

are there virtual tears?

 

[Herbivore 916]

Just now, Utilit99 said:

 

that is happening on the hour at the Geek Club these days

[Mookz 1,288]

The oxymoron market is big these days.  

[Utilit99 4,099]

20 minutes ago, Herbivore said:

that is happening on the hour at the Geek Club these days

Video link?

And calling out the facts that creepy joe and pelosi are destrying America is the same thing as all liberal whining over the past 15 years?

[Cloaca du jour 2,080]

There used to be a video game world where a guy made mad cash selling virtual property in the game

https://singularityhub.com/2010/11/21/man-sells-virtual-real-estate-in-online-game-for-635000-wtf-video/

[IGotWorms 3,406]

I was wondering how you clowns would make this political

[lod001 1,241]

The level of stupid is off the charts on this one.

[Bill E. 675]

17 hours ago, RaiderHaters Revenge said:

it is, where virtual islands have sold for 100k+

https://www.csmonitor.com/Technology/Horizons/2010/1113/Man-makes-record-335-000-in-Entropia-Universe-virtual-real-estate-deal#:~:text=They are completely fictional.,multiplayer online game (MMO).

 

That is amazing.  I would say it was one of the dumbest purchases ever but they probably fake painted the place and flipped it to someone even dumber for half a mil.

[DonS 3,086]

Here's a fixer upper - - >

I'd be willing to sell for $10 and a six pack. 

[Cdub100 3,442]

This is not new, but let's pretend it is.

[IGotWorms 3,406]

50 minutes ago, DonS said:

Here's a fixer upper - - >

I'd be willing to sell for $10 and a six pack. 

What is this, a house for ants?!

[Voltaire 4,578]

The things people will spend their money on. Sheesh.