'You can buy a house in the metaverse for $15,000': This guy is the CEO of a company paying millions for virtual real estate

Lorne Sugarman is the CEO of the Metaverse Group, a Toronto-based virtual real estate company that buys, develops and leases parcels of land in the metaverse. It’s a pretty gnarly concept, but he says the metaverse is the future of everything and that the financial opportunities are huge. We asked him all about it.If Facebook and Google were Web 2.0, the metaverse is Web 3.0. It’s the next phase of the internet, in which users explore video game–like 3-D worlds with a self-created avatar.

Paris Hilton—the hotel heiress, reality TV star and DJ—recently hosted a concert in Decentraland Sure, but we’re at the stage where you can sit in your bricks-and-mortar home wearing a VR headset and watch a movie in the metaverse. It’s also about the “cool factor”—gaining status by telling your friends you bought a house. And, of course, it’s a financial investment.For a standard home, between $15,000 and $50,000. If you’re near Snoop Dogg or in the Fashion District, it would be higher.

Jesus Christ this is stupid.

Wut

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