You might have heard a lot of crazy stories about the recent Metaverse fad, but this one will definitely blow your mind. It has been reported that a Texas man has spent all of his life savings worth $18,000 on buying a piece of virtual land named “Khorum Coast” in Metaverse. It’s freaking strange. Isn’t it? However, this piece of land is situated in a videogame known as “Entropia Universe”.
Justin Reed, the man behind this enormous purchase, acknowledges that people would call it a crazy thing and that this act might not fit well with a lot of people, but at the same time, he said that I have complete reliance on the technological swiftness of Metaverse. He seems so confident that he might get a return on his investment, according to his recent statements. According to Reed, “I know it sounds like a lot, and it’s a crazy thing to tell someone that, you know, I’m a virtual landowner, and I put my life savings into it. But I believe in Entropia. “
As per Reed’s conviction, he has been playing MMORPGs for 20 years and has a lot of experience in dealing with purchases like this. He said that he has even made money on this platform before, so he seems to completely trust this process and that he will get a return in the future. With the recent technological hike of Metaverse and people taking a keen interest in it, Reed is ready for his future explorations with the platform. He said, “I could have gone out and started a bakery with my money, but no one could have bought my bakery rolls. With this, I just feel that I have more control. “
Furthermore, Reed talks about the payment method for players in Metaverse. He says that the “micropayment model” is being deployed here to transfer real-world money against the game’s transactions via virtual real estate. He made a shocking discovery by saying that he had already earned around $1200 from the “Khorum Coast”, which he purchased through Metaverse”. So he says that there is a huge probability of return on investment but this also comes with great risk.
Paul Toprac, who is a Game Development and Design Program associate director at the University of Texas at Austin, stated, “If you like the risk, and you’re willing to gamble, which is basically what’s happening in this digital world. It’s a good place for gambling.”