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After Art, NFTs ... Meta-Estates...

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  1. #1

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    After Art, NFTs ... Meta-Estates...

    Figured this is not going away, might as well start a new thread to track property values in virtual worlds.

    Hint: You probably cannot get a mortgage from HSBC, even if you could afford the down payment on some of these estates.

    Republic Realm, a metaverse real estate firm, paid $4.3 million for a plot of land in virtual world Sandbox, representing the largest public virtual real-estate deal to date, the company told The Wall Street Journal. The company purchased the virtual plot from video game company Atari.

    The purchase broke the previous record set by investment firm Tokens.com last week, which reportedly bought a $2.5 million piece of land in Decentraland, another popular virtual world.

    Despite the risks involved due to the volatility of cryptocurrencies, investment firms are diversifying their assets among several virtual worlds. Republic Realm told The Wall Street Journal it owns 2,500 virtual land plots throughout 19 virtual worlds, with two specific investment vehicles focused on virtual real estate, including a mall, a community of 100 virtual residences and a private island.
    https://www.protocol.com/bulletins/r...ox-real-estate

  2. #2

    Are they using Reader Player One and Snow Crash as their strategy manuals?

    aw451 likes this.

  3. #3

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    Snow Crash is one of my favorite books from one of my favorite authors. Seriously worth a read.

    vmlinuz, jgl, hullexile and 2 others like this.

  4. #4

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    In the NFT department.. Spotted in a newsletter..

    Here is an auction for a non-fungible token on OpenSea with a minimum bid of $9.5 million, sure, and no bids yet. The token represents a 12-foot-by-12-foot painting called “Mother Earth” in “Mixed Media Oils and Trash.” Ordinarily, as we often discuss around here, the way to turn an actual painting into an NFT is to destroy the painting with fire, and then sell an NFT representing the ghost of the painting. This “object-fire-token-money” cycle is the standard approach, but we have seen some innovations in NFTs recently. Last week we discussed the approach of a rich guy selling NFTs representing a painting he owns, and then keeping the painting, which has some obvious advantages, for him.

    In the case of “Mother Earth,” there is no plan to destroy the painting, and in fact “the original painting comes with the NFT.” Sort of. The listing says:

    Created in the LagunaART.com gallery in May 2021, the door way is only 10' the original painting is 12'X12' so the piece doesn't fit out of the door.

    See, this art gallery has a really good painting that it wants to sell you, but it’s too big to remove it from the gallery, so they’ll sell you an NFT of it and they’ll hang on to the painting itself for you. Why not. Everything should work like that. I bought a new stove a while back and the delivery guys had a really hard time maneuvering it into my kitchen; it would have been a lot easier if I could have just bought an NFT of the stove and left it in the warehouse.

  5. #5

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    Quote Originally Posted by shri:
    Snow Crash is one of my favorite books from one of my favorite authors. Seriously worth a read.
    Great author, I just wish he could write decent endings! His pattern seemed to be amazing ideas and killer storyline -> off the side of a WTF cliff ending.
    shri likes this.

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    The lunatics have taken over the asylum, or at least a tiny part of a virtual asylum.

    traineeinvestor likes this.

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    I do wonder what the next big senselessly extravagant 'use teh blockchain here' fad will be. Whatever it is, after NFTs and 'art', I am sure that it will follow the pattern of being totally baffling.


  8. #8
    Quote Originally Posted by hullexile:
    The lunatics have taken over the asylum, or at least a tiny part of a virtual asylum.
    Just waiting for NFT's of tulips, beanie babies or bitcoin before I make my move ....
    hullexile likes this.

  9. #9

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    If Elon Musk is right, at some point biological life and AI will merge and when our physical lives end, we'll be able to upload into the metaverse and own and live on whatever virtual "things" we have purchased prior to that event horizon. We may be creating our own hell in which we have to work for some Bitcoin jerk and smell shit all the time because the no-smell scent is millions of dollars. Wait, an idea for a dystopian novel just hit.... "Shitcoin".


  10. #10

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    Quote Originally Posted by SirNotAppearing:
    when our physical lives end, we'll be able to upload into the metaverse and own and live on whatever virtual "things" we have purchased prior to that event horizon.
    Get ahead an invest in these suicide pods, which can then have modules that plug your afterlife into metaverses.. Make sure your estate plugs a credit card with a fairly high limit into the device.

    https://en.wikipedia.org/wiki/Sarco_device

    Good show if you have Amazon Video or some downloader..

    https://www.amazon.com/Upload-Season-1/dp/B08BYYHCLN

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