- Shark Tank star, Mark Cuban dismisses Metaverse as the ‘Dumbest idea ever.
- Cuban adds that Metaverse’s progress is slow, suggesting that it is ‘more talk than anything’.
- Cuban stresses that entrepreneurs critically think about the changes in their business strategies from investing in the Metaverse.
Recently, billionaire, investor, and crypto enthusiast, Mark Cuban reportedly dismissed the Metaverse saying that it is the ‘Dumbest idea ever’.
Despite being a prominent crypto enthusiast himself, Cuban still heavily criticizes the metavese. Specifically, about owning a piece of land in the metaverse. Cuban appeared in a recent Altcoin Daily podcast saying that it’s going to be difficult to standardize things in the virtual space.
There’s no rhyme or reason to it yet. Will there be?
When asked in an Altcoin Daily YouTube interview about his thoughts on the Metaverse, he allegedly feels it is the ‘dumbest idea ever.’ Adding to that, Cuban suggests that the parameters that give value to a metaverse land are location and scarcity, just as in real-world scenarios.
In a metaverse where location is irrelevant and scarcity is artificial, buying real estate is “the dumbest [expletive] ever,” accoridng to Cuban.
“It’s not even as good as a URL or an ENS, because there are unlimited volumes that you can create,” Cuban told Altcoin Daily. The investor further drove his point home by claiming that quality and exclusive access to communities will define the value rather than the address having inherent value. Referring to the slow progress in Metaverse, Cuban says it’s more “talk than anything”.
Cuban states that when everyone is trying to figure out what Metaverse is going to be, he mentions that it is of utmost importance that entrepreneurs interested in this industry think critically about how it would change their business and the strategy they have to follow to embrace this strange world.
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