The Future or a Bunch of Chazerai?

Mark Zuckerberg envisages the upcoming Metaverse singularity this way: “It’s about a time when basically immersive digital worlds become the primary way that we live our lives,”

A virtual world where you can shop, go for virtual coffee, buy virtual property, purchase (virtual) designer clothing for your avatar…pay real money for a mortgage on your virtual property.

And yet, FOMO has many companies scrambling to a assemble metaverse presence.

Consultants are salivating. JPMorgan Chase & Co. estimates the metaverse will represent a US$1-trillion annual market. Research giant Gartner Inc. projects 25 per cent of people will spend at least one hour a day in the metaverse by 2026 for work, shopping or entertainment.

https://www.theglobeandmail.com/business/article-metaverse-v…

A virtual world where you can shop, go for virtual coffee, buy virtual property, purchase (virtual) designer clothing for your avatar…pay real money for a mortgage on your virtual property.

I don’t want to live in that world. Do you?

IP

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Yet another group of Brooklyn Bridges for sale–individually or bulk purchase…

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<<A virtual world where you can shop, go for virtual coffee, buy virtual property, purchase (virtual) designer clothing for your avatar…pay real money for a mortgage on your virtual property.>>

I don’t want to live in that world. Do you?

People are voting with their feet. Virtual work from home is preferable to an IRL presence in an office for a lot of people. Eliminates time wasted on commuting, too.

Am I interested in Bitcoin or an NFT – probably not.

intersct

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Hmmm… rest up on Sunday afternoon in the metaverse with imaginary bots bringing me imaginary food and drink and imaginary problems to solve…and when I am dead nobody well care, not even the bots, because i would have become mostly imaginary myself…

OR

…sitting, as I am now, on a flower draped breezy terrace eating a real and tasty “comida” of arrachera, guacamole, three types of home made salsa while being served fresh brewed beer by darling handsome wait staff who love to flirt with good tipping ancient old guys like me…and maybe I will even be missed when dead.

What are Zuckerberg and his fans smoking?

david fb

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One issue is that as things stand, “the metaverse” looks like being individual proprietary-owned virtual worlds (“verses”?) … not unlike the sealed-off AOL or indeed Facebook today.

There may not be much connection between rivals looking for your USD to spend on their virtual assets for sale. To interact with specific friends you need to be on the same app … in the same “verse”

And it gives rise to the rug-pull problem … OK so long as these businesses are selling assets and raking in the cash, everyone’s happy … then maybe the business model becomes charging rent / maintenance fees / property tax … but there’s always the prospect of IP ADDRESS NOT FOUND when it doesn’t work any more.

Then it’s not like you bought a plot on Block Island … which will always exist …