Billionaire Investing in These 2 NFT Coin Projects: They’re Garbage!

Famous crypto investor Mark Cuban shared his new comments. The billionaire, known for his Ethereum maximalist, recently appeared in an interview posted on YouTube. In the interview, Cuban said that some of the items in the Metaverse are garbage. Then, he talked about the NFT coin projects he indirectly invested in.

Mark Cuban views Metaverse plots as ‘garbage’

Mark Cuban talked about a number of topics, including the feasibility and lack of buying virtual land on Metaverse. “The worst part of the Metaverse is that people buy real estate from these places,” Cuban said. He then said that buying land in the Metaverse was “the dumbest thing ever.” In the crypto space, there are virtual worlds such as Sandbox and Decentraland, where Rapper Snoop Dogg’s own Metaverse lives. These Metaverses sell digital lands that can be bought, sold, rented, and built on. Users purchase these digital lands, often as an Ethereum-based NFT. It comes from the two principles of physical real estate that give value to Metaverse lands in theory. These; scarcity and location. However, experts say that this value does not apply to Metaverse. Because they artificially state that there is no shortage.

This is an idea that Mark Cuban also agrees with. In the interview, Cuban cited Ethereum Name Service (ENS), which serves as crypto wallet addresses, which has become a lucrative market. Metaverse plots, according to him, are “not as good as a URL or ENS”. The reason for this is that the unlimited volume we can create in domain name services such as ENS is not included in the lands. However, Janine Yorio, CEO of Metaverse real estate company Republic Realm, spoke about the benefits of Metaverse lands back in January. According to him, virtual lands are a more appropriate investment for brands such as Adidas and Nike. Because these companies gain the advantage of creating social experiences through lands. In addition to all this, Metaverse lands are a much riskier investment than physical real estate investment.

He had indirectly invested in these 2 NFT coin projects

Surprisingly, Mark Cuban is an investor in the popular NFT and Metaverse company Yuga Labs. Yuga Labs owns the two most important NFT coins, Bored Ape Yacht Club and CryptoPunks. The billionaire invested in Yuga Labs and compared crypto to the early internet in late May. In fact, Cuban raised $317 million from a Metaverse platform in its investment through Yuga Labs land sales in April. However, he added that he is not a fan of this digital land sale. The billionaire said, “I still think it’s stupid to do real estate. This was great money for them. However, it did not have a benefit for users,” he said. Cuban remains a staunch advocate of NFT, Metaverse, and Web3, even as he smashes the Metaverse lands.

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