I like video games, computer games and so on. I can see the appeal of Decentraland — it reminds of games like SecondLife and Habbo Hotel. The only problem is that I was young then. Now, I’m married, have a kid and a full-time job, so I have no time to play games, usually. Furthermore, I seldom use social media such as Facebook or even YouTube. My online use pertains mostly to looking up facts quickly and writing on Medium.
Now, the question is whether the metaverse is worth investing in? With someone of my online habits, I doubt it. But, this is not saying the metaverse is unappealing, it’s merely saying that the attraction towards metaverse may better suit those who want to live a virtual life and isn’t so consumed by reality’s worries.
Anyway, I went into Decentraland and here’s what I think: It’s alright. It didn’t appeal much to me because I don’t like being virtual much, but I can see the appeal. You can customise your own things like how you do in MineCraft, and you can socialise with others. Perhaps, if I were more social, I could see the appeal of Decentraland, but at my stage in life, I wouldn’t play it much. In a way, Decentraland reminds of DAO (decentralised autonomous organisation) meets RPG (role playing game).
As a counterargument to my experiences, this article really explains how Decentraland should be experienced. If you think the article is TLDR(too long; don’t read), here are some summary points:
- You can do anything eg. go to virtual clubs, attend art displays or compete in races.
- You can play games within it.
- Participate in the marketplace.
- Earn money that can be converted into real money (cryptocurrency) eg. real estate flipping.
- Vote on things.
- It is mostly a virtual world that is controlled by its people rather than by some sort of benevolent or malicious organisation.
Here’s something else value investors probably should ponder over when thinking about the metaverse. “If you have easy access to something but you don’t experience it, why should you invest in it?” I pose this question because many investors are too lazy to experience something. Usually, they invest in the hype or avoid experiencing something and convince themselves that they understand it.
If the metaverse had a high barrier to entry, you could use mental models to ponder over it, but the metaverse is easily accessible. Lived experiences are sometimes better than analogous experiences.
With regards to Decentraland and experiencing it, I can see people using it. It is fun, but whether or not if it will be fun for the wider community, like how Facebook is, I simply don’t know. Facebook has a very low ‘time investment’* barrier to get good enough at it. Decentraland may have a higher barrier because you need to design a character, navigate around the world and perhaps even need to spend money to get the full experience. With Facebook, it’s just doing a few clicks and you don’t really need to pay anything to get most of the features.
*By this term, I mean how much time is needed to understand the platform’s futures. It’s quite subjective.
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