Meta-universe real estate status

How can a piece of land that does not exist sell for tens or even millions? Is it really just because the metacosm is a pig standing on the "vent" of the blockchain?

In the industry, it seems to be a good form, but when I try to explain the concept of metaversity and virtual assets to people around me who are not in the industry, most people refuse to accept it. Giving a virtual cyberspace an ownership can be worth millions, isn't this the "emperor's new clothes"?

The audience of blockchain has always been very small, and for a long time, it was considered to be an illegal behavior like Bitcoin and digital currency. Current blockchain games require every gamer to have a crypto wallet, as well as trading on crypto exchanges. This requires players to have a basic understanding of cryptocurrencies and master how to use transactions. And transaction fees and congested networks can also be a hindrance. Most of the players in the virtual real estate are senior blockchain industry personnel, who have a certain understanding of the metacosm and have a good audience base.

Typically, NFT ownership is used in the metaverse to represent the ownership of virtual real estate (the key innovation of NFTs is to provide a way to mark ownership of native digital assets), but how big is the NFT bubble? Even Ben Nolan, founder of virtual world Cryptoxels, said that "I expect a crypto winter in the coming months, where the entire NFT boom will explode and then all value will absolutely collapse." "It's really unwise to trade NFTs as an investment or as a way to make money." Mike Winkelman, an American artist who sold nearly $70 million in Beeple digital artwork at Christie's, told the BBC the day before the auction, "Honestly, I do think there will be a bubble." And I think we might be in a bubble right now. ”

NFT application is representative in the field of art, and now there are more and more application scenarios, such as intellectual property rights (a painting, a song, a patent), physical assets (the ownership of real estate such as houses can be tokenized by NFT), financial instruments, and even concert tickets, movie tickets and other tickets can use NFTs, NFTs can also be used for records and identity certificates, through digital forms for safe storage, but also to prevent abuse or tampering.