Decentraland is valued at $1 billion, but only 8,000 daily users
If you are not familiar with Decentraland, it is a Web3 “metaverse” built on the sale of 90,000 parcels of virtual land, attracting media attention such as this one New York Times report that quotes an investor saying, “Why don’t we go in and buy the plots of land in these metaverses, and then we can become the landlords?”
The “virtual real estate” plan has been derided as a pyramid scheme by some, such as Edward Castronova, media professor at Indiana University Bloomington, who told CNBC, “The Metaverse is El Dorado for internet startups. They chase it into the jungle and die.”
