Virtual vs Real Estate - $MANA vs US/Chinese Real-EstateIt's always been a dream of mine to have a creative space where artists, intellectuals, entrepreneurs and activists could congregate and meet. High costs of living made this impossible but we might be able to do something similar in the #metaverse, which is the next best thing.
I've already seen some amazing stuff in Decentraland and Cryptovoxels despite it being very early. Very bullish on the direction the metaverse is going in right now. Once royalties and distribution of #NFTs get streamlined, there's no telling how big this thing could get.
IRL, artists have already been displaced many times due to NIMBYism and a society that just can't be bothered to give creatives the decency of basic infrastructure and services. #Crypto gives a low-cost option of selling their work in ways that Web2 failed to do.
So the goal of NFTs, Metaverse, and crypto-based creative projects should be to make as much cool things as possible, to draw attention away from traditional arts/entertainment venues and brick-n-mortar museums/galleries to shift demand towards these mediums over IRL ones.
Real-estate prices are way overinflated right now due to decades of NIMBYism, mismanagement and corruption in the appraisal process and is waiting to pop any day now. The metaverse may be just the thing needed to accelerate that pop. This is good for most people, as a whole.
Ignore the talking heads saying that a real-estate crash would hurt the poor. That type of trickle-down BS is what got us into our current situation to begin with and should be dismissed entirely. A deflated housing market will reduce rents and homelessness - it's just math.
So in a way, the metaverse IS the market correction in the IRL real-estate market that we've been waiting for. Induced demand goes digital, countering the artificial scarcity of NIMBY practices in the real world, and will reach a new equilibrium of sorts after a few years.
After that, it's anyone's game. But we get interesting content in the digital world while reducing rents IRL at the same time. A win-win. But my money is on $MANA, $ETH, and NFTs since they're small in size by comparison and has a lot of room to grow. That's how money is made.
If you need proof, this chart showing MANA doing inversely well against the US and Chinese real-estate market right now. The US markets are printing a lot of money to keep their prices artificially high, but as inflation rises it's going to reach a point where growth will no longer be possible. And so far it's pointing in the direction that crash could result in crypto assets experiencing exponential growth as a result.
