Spending $120,000 to buy "virtual land" in the meta-universe, did Lin Junjie pay the IQ tax?

The wind of the meta-universe finally blew into the entertainment circle, and even Lin Junjie began to buy land in the meta-universe to "speculate".

Even Lin Junjie is frying

What exactly is a "virtual land" in the metaverse?

Recently, singer Lin Junjie announced on social media that he had bought the virtual land of Decentraland (Distributed Continent) and officially set foot in the metaverse world. He spent an estimated $123,000 (about 783,067.2 yuan) on the three "plots."

Subsequently, Lin Junjie exposed his land and openly recruited neighbors, saying, "Is there anyone together?" "For fans, this may be the fastest way to be neighbors with celebrities.

The biggest outlet in 2021 is undoubtedly the meta-universe, the influx of capital, the layout of giants, everyone wants to pan for gold in this wave, and its commercial value is gradually revealed.

With the wind of the meta-universe sweeping the world, the first wave of "speculation groups" is entering this blue ocean, driven by buyers, the sales of virtual land in the virtual world are constantly being refreshed.

Lin Junjie is one of them.

Speaking of this, some people may question, and even many netizens bluntly say, why not buy a house in reality with this money? Isn't buying a house in the metaverse an IQ statement?

Before exploring whether the value is worth buying, let's first take a look at what kind of virtual land Lin Junjie bought on Decentraland.

Simply put, "Decentraland" is a completely decentralized virtual world. Founded in September 2017, it is a blockchain-powered virtual reality platform and the first fully decentralized, user-owned virtual world.

In Decentraland, users can browse and explore content, engage in a variety of different activities, and interact with other people and entities. Developers can also create, build, and realize creative ideas at Decentraland.

After purchasing their own virtual land on Decentraland, users can build their own buildings through the crafter provided by Decentraland, which can be collected or sold to the outside world. Not only that, but users can also go to the market to buy ready-made buildings, equipment and other in-app items.

More than 27 million auctioned virtual land

The fanatical "speculators" enter the meta-universe

When it comes to Decentraland, many people will ask how it differs from ordinary virtual world applications. In fact, Decentraland has almost all the characteristics of virtual world applications, but it has brought all of this to the blockchain.

The application of blockchain not only makes all the property rights and transactions in Decentraland traceable, but also enables users to become their true masters and rulers through collective voting.

This is also why more and more individual players and large investors are pouring into it.

In the metaverse, you can never imagine how high the crazy speculators can speculate on these pixel-style land buildings.

On November 25, a piece of virtual land in Decentraland was auctioned by Tokens.com for $2.43 million (about 15.5 million yuan), setting a record high for virtual real estate prices at the time.

This price is more than double the previous virtual property record of $913,000, and it is also higher than the average price of a single house in Manhattan, the United States, and much higher than the price of a single house in other U.S. boroughs and San Francisco, which can be described as the "central square" of the virtual world.

The virtual land was bought by Tokens.com company for development for fashion show and commercial use.

It is worth noting that it is not only Decentraland that can buy virtual land, on November 30, a piece of virtual land in the "Sandbox" (sandbox) was purchased by another "meta-universe" real estate company", "Republic Realm", for about 4.3 million US dollars (about 27.385 million yuan), once again refreshing the latest record for virtual land.

As of press time, Decentraland's total trading volume has exceeded $100 million, with a seven-day trading volume of about $6.62 million, Sandbox's total trading volume of more than $200 million, and a seven-day trading volume of about $70 million, both of which are far ahead of other Metavalse projects.

The data comes from Nonfungible.com

It can be seen that the popularity of virtual land is constantly increasing, and at present, many foreign companies are trying to diversify their investments by purchasing land in multiple different virtual worlds to "reduce risk".

Is virtual land really that valuable?

So do the land and real estate in the metaverse really have that high value? Can meta-universe speculation really achieve sudden wealth?

In the metaverse, having virtual land gives individuals the freedom to build their own houses and attractions. For those speculators, virtual real estate, as another field parallel to the real world, can not be as restricted as the real world, so it is full of endless possibilities, so more and more investors are willing to pay for it.

But in essence, the purchase of virtual land is still a transaction behavior of virtual assets, and there are great risks. And, at present, this is not supported by the law in many countries of the world.

Shen Yi, director of the Cyberspace International Governance Research Base of Fudan University, believes that the price of land in real life is determined by the value it generates, land can be turned into building land, and the value sold by the commercial and residential buildings above him determines the price of land. However, if you buy a piece of code on the virtual world platform and build a building in it, how can you ensure that everyone is willing to live in it?

Shen Yi said that some people may want to lure the next person in so that they can get rid of the Ponzi scheme at a high price and achieve rapid wealth growth.

Objectively speaking, technical limitations are the biggest bottleneck in the current development of the metaverse, and the corresponding underlying technologies such as XR, blockchain, and artificial intelligence still need to be improved. Its landing will also face real-world problems such as supervision, legal risks, and time conflicts with real time. Therefore, at this stage, we must beware of the "metacosm" becoming a hype gimmick.

Liu Cixin, who is known as "China's first metacosmonic architect", said when talking about the concept of metacosmology that the metacosm will be an inner volume of the entire human civilization, and the entropy of the closed system of the inner volume will always tend to be the largest. So the metaverse is finally a way to lead mankind to death.

Pixel-level painting style, rough modeling is still the first impression of the current metaverse, perhaps only when the concept of metaverse tends to mature, the value of virtual land, real estate and other hot virtual assets can be reflected, but when that day will come is still unknown, but at least not now.

This article originated from Blue Whale Finance