Mark Cuban says buying digital real estate in metaverse is "dumbest shit"

Mark Cuban is a billionaire entrepreneur who loves cryptocurrencies and Web 3 technology, but he thinks buying digital real estate in the metaverse is not a good idea.

Cuban told the YouTube channel Altcoin Daily that the worst part of the problem is that people are buying real estate in these places. That is the dumbest shit you've ever heard of. Cuban, who owns the NBA's Dallas Mavericks and is one of the stars of Shark Tank, is talking about companies like Decentraland or The Sandbox, where people can invest in virtual land within the metaverse.

See also: Serena Williams retiring from tennis to focus on family and her venture-capital firm.

In this case, the metaverse refers to a 3 - D decentralization version of the internet - in many instances the metaverse may be partially powered by the technology ofBlockchain.

Celebrities like the rapper Snoop Dogg and reality TV star Paris Hilton, as well as companies like Gucci, Atari 0 KUV and HSBC HSBC have already purchased virtual land in the metaverse - a plot of virtual real estate next to Snoop Dogg's Sandbox, which was reported to have sold for $458,000 in December 2021.

Cuban said in the interview about the metaverse that it is more talk than anything.

Cuban, who bought his company Broadcast.com in 1999 for $5.7 billion, before the dot-com bust, has been an advocate for the NFT space in recent years, as part of his fortune in the early days of the internet when he sold his company to Yahoo in 1999 for $5.7 billion.

Why is criptocurrency crashing? According to a report by CNBC, Mark Cuban says that 80% of his investments aren't on Shark Tank and that he's invested in the NFT space and that he has several thousand dollars worth ofBTCUSD, ethereum ETHUSD, and doge coin DOGEUSD.

By 2024, the metaverse could be an $800 billion market, according to Bloomberg, as a result of Web 3.0 or Web 3.0, a decentralization internet platform that runs on public ledger technology, rather than Web 2.0, which is mostly run through large centralized conglomerates like Google GOOG, GOOGL and Facebook META.