WEBVTT - 5 things about buying property in the metaverse

0:00:05.630 --> 0:00:08.439
<v Speaker 1>Hello, I'm Don Tan from the C Money M team

0:00:08.470 --> 0:00:11.140
<v Speaker 1>with the five things you need to know about buying

0:00:11.148 --> 0:00:15.119
<v Speaker 1>property in the metaverse. The metaverse is expected to generate

0:00:15.130 --> 0:00:19.799
<v Speaker 1>up to $5 trillion in economic value by 2030 as

0:00:19.809 --> 0:00:23.969
<v Speaker 1>it promises a richer environment to work, shop play and

0:00:23.979 --> 0:00:28.799
<v Speaker 1>socialize online on this podcast. We'll hear from Samuel Huber,

0:00:28.809 --> 0:00:32.459
<v Speaker 1>CEO of Land Vault, a virtual construction firm

0:00:32.646 --> 0:00:37.106
<v Speaker 1>that helps brands build their presence in the Metaverse. Sam,

0:00:37.117 --> 0:00:39.896
<v Speaker 1>thanks for joining us. Thanks for having me. So first off,

0:00:39.906 --> 0:00:43.176
<v Speaker 1>tell me something about yourself and what you do in

0:00:43.187 --> 0:00:43.965
<v Speaker 1>the metaverse,

0:00:43.986 --> 0:00:47.497
<v Speaker 2>run a company called Land Vault, which we qualify as

0:00:47.506 --> 0:00:50.247
<v Speaker 2>a construction company but in the virtual worlds. So we

0:00:50.256 --> 0:00:53.117
<v Speaker 2>provide a full end to end solution for big brands

0:00:53.126 --> 0:00:57.426
<v Speaker 2>and even governments now who want to create metaverse experiences

0:00:57.437 --> 0:00:59.597
<v Speaker 2>and worlds. So we take care of the creation

0:00:59.763 --> 0:01:02.754
<v Speaker 2>layer, helping them come up with amazing ideas and bringing

0:01:02.763 --> 0:01:05.113
<v Speaker 2>that to life in virtual worlds. But we also build

0:01:05.124 --> 0:01:08.653
<v Speaker 2>the technology to then deploy the content monetize the content

0:01:08.664 --> 0:01:11.384
<v Speaker 2>and help them with an end to end solution, mastercard,

0:01:11.393 --> 0:01:14.473
<v Speaker 2>for example, who was basically trying to create a virtual

0:01:14.484 --> 0:01:17.994
<v Speaker 2>event for their teams and to educate their customers about

0:01:18.003 --> 0:01:21.512
<v Speaker 2>specifically one of the initiatives that they support for three months.

0:01:21.524 --> 0:01:25.113
<v Speaker 2>We run multiple events during that platform. Another example is

0:01:25.124 --> 0:01:26.613
<v Speaker 2>Standard Chartered the bank.

0:01:26.680 --> 0:01:30.800
<v Speaker 2>Their activation was more around hiring and talent acquisition specifically

0:01:30.810 --> 0:01:33.430
<v Speaker 2>as they were trying to build a web three team.

0:01:33.441 --> 0:01:34.981
<v Speaker 2>So they thought, where are we going to find a

0:01:34.990 --> 0:01:37.670
<v Speaker 2>web three audience? Let's find them in the metaverse. We

0:01:37.680 --> 0:01:40.401
<v Speaker 2>were also involved with the fashion week last year where

0:01:40.411 --> 0:01:43.490
<v Speaker 2>we were basically selling virtual product for big brands like

0:01:43.500 --> 0:01:46.511
<v Speaker 2>Tommy Hilfiger, l'oreal and so on. And that generated a

0:01:46.521 --> 0:01:49.680
<v Speaker 2>significant amount of sales. So there's different things that you

0:01:49.691 --> 0:01:51.651
<v Speaker 2>can achieve in the metaverse. We like to think of

0:01:51.661 --> 0:01:53.630
<v Speaker 2>it as a 3d version of the internet.

0:01:53.849 --> 0:01:56.019
<v Speaker 2>So things that you can do on the internet, like

0:01:56.029 --> 0:02:00.470
<v Speaker 2>targeting new users, building communities or selling products are things

0:02:00.480 --> 0:02:02.769
<v Speaker 2>that you can also do in the metaverse. But in

0:02:02.779 --> 0:02:06.480
<v Speaker 2>three dimension, we have clients from financial services to fashion

0:02:06.489 --> 0:02:09.699
<v Speaker 2>to automotive. We even work with big governments now in

0:02:09.710 --> 0:02:12.160
<v Speaker 2>the Middle East who are using the metaverse as a

0:02:12.169 --> 0:02:16.220
<v Speaker 2>tourism platform. What best way to showcase a country like

0:02:16.229 --> 0:02:20.880
<v Speaker 2>Dubai than recreating it in three dimension. Showcasing the best entertainment,

0:02:20.889 --> 0:02:22.660
<v Speaker 2>the best hotels, the best restaurant

0:02:22.893 --> 0:02:26.223
<v Speaker 2>actually visit it in three dimension before you actually go

0:02:26.233 --> 0:02:29.643
<v Speaker 2>there and enter the master suite in the Bour Arab

0:02:29.752 --> 0:02:32.154
<v Speaker 2>and understand what it would feel to be there, you know,

0:02:32.163 --> 0:02:34.694
<v Speaker 2>you are actually more likely to end up visiting or

0:02:34.703 --> 0:02:38.024
<v Speaker 2>purchasing it. So it's a great showcase. And we like

0:02:38.032 --> 0:02:40.063
<v Speaker 2>to think that the metaverse is the next best thing

0:02:40.074 --> 0:02:40.913
<v Speaker 2>after reality.

0:02:40.923 --> 0:02:44.723
<v Speaker 1>How big is the market opportunity here? In terms of

0:02:44.733 --> 0:02:45.764
<v Speaker 1>the value of virtual

0:02:45.774 --> 0:02:48.583
<v Speaker 2>land, the value of virtual land is really about what

0:02:48.593 --> 0:02:51.184
<v Speaker 2>you can make of it, what you can develop from it.

0:02:51.194 --> 0:02:51.843
<v Speaker 2>It's a little bit

0:02:51.938 --> 0:02:55.127
<v Speaker 2>like in the real world where land itself, how valuable

0:02:55.138 --> 0:02:57.367
<v Speaker 2>it is. It's hard to know, but it's really about

0:02:57.377 --> 0:02:58.968
<v Speaker 2>what you can build on top of it. Can you

0:02:58.977 --> 0:03:00.998
<v Speaker 2>build a business on top of that land? And it's

0:03:01.007 --> 0:03:03.828
<v Speaker 2>pretty much the same in the metaverse. You have areas

0:03:03.837 --> 0:03:07.107
<v Speaker 2>of the virtual world where you have maybe more celebrities.

0:03:07.117 --> 0:03:09.608
<v Speaker 2>So it's more expensive. But at the end of the day,

0:03:09.617 --> 0:03:12.027
<v Speaker 2>it's about the capabilities of the platform. What can you

0:03:12.037 --> 0:03:14.248
<v Speaker 2>build on that land? So for example, if you can

0:03:14.257 --> 0:03:17.527
<v Speaker 2>build an E commerce shop in 3D to sell your

0:03:17.537 --> 0:03:20.727
<v Speaker 2>virtual clothes and you can make a million dollars a month,

0:03:20.738 --> 0:03:20.888
<v Speaker 2>then

0:03:20.981 --> 0:03:24.082
<v Speaker 2>that's the opportunity. That's what the land enables you to do.

0:03:24.091 --> 0:03:27.171
<v Speaker 2>Think of the land as a three dimensional website. It's

0:03:27.181 --> 0:03:29.731
<v Speaker 2>not about how many websites you have. It's about how

0:03:29.742 --> 0:03:32.302
<v Speaker 2>much traffic you can drive to a website and what

0:03:32.311 --> 0:03:34.272
<v Speaker 2>do you do with that audience if you are able

0:03:34.281 --> 0:03:37.001
<v Speaker 2>to convert your users? So they buy your product, you

0:03:37.011 --> 0:03:39.611
<v Speaker 2>only need one location, one business. So it's the same

0:03:39.621 --> 0:03:41.712
<v Speaker 2>in the verse, you don't need to have a huge

0:03:41.722 --> 0:03:43.651
<v Speaker 2>amount of land. What you need to create is a

0:03:43.662 --> 0:03:46.852
<v Speaker 2>real reason for people to go there. Give them something

0:03:46.861 --> 0:03:49.932
<v Speaker 2>fun engaging to do so that people spend time and

0:03:50.026 --> 0:03:52.845
<v Speaker 2>eventually if you want, they can also buy products and

0:03:52.856 --> 0:03:55.595
<v Speaker 2>buy items. So the metaverse is not really a new

0:03:55.606 --> 0:03:57.936
<v Speaker 2>way to do business. It's just a new interface, a

0:03:57.945 --> 0:04:02.085
<v Speaker 2>new three dimensional interface to be able to do things

0:04:02.095 --> 0:04:05.225
<v Speaker 2>in more engaging, more realistic ways. But at the end

0:04:05.235 --> 0:04:06.966
<v Speaker 2>of the day, it's all about people and what they

0:04:06.975 --> 0:04:08.156
<v Speaker 2>can do, how

0:04:08.166 --> 0:04:11.205
<v Speaker 1>are digital lands transacted? Then, I mean, how do you

0:04:11.216 --> 0:04:13.136
<v Speaker 1>actually go about saying I want to buy some of

0:04:13.145 --> 0:04:13.936
<v Speaker 1>this in digital

0:04:13.945 --> 0:04:17.936
<v Speaker 2>space. Most of those platforms are what we call on chain.

0:04:17.946 --> 0:04:18.976
<v Speaker 2>So on the Blockchain

0:04:19.209 --> 0:04:22.979
<v Speaker 2>and individual land, which is a fraction of the map

0:04:22.988 --> 0:04:25.820
<v Speaker 2>of that platform. They are individual N F T s.

0:04:25.829 --> 0:04:28.380
<v Speaker 2>So N F T s are non fungible tokens. So

0:04:28.390 --> 0:04:32.239
<v Speaker 2>these are basically unique coordinates that you get to own.

0:04:32.250 --> 0:04:34.178
<v Speaker 2>So once you own the N F T, you put

0:04:34.190 --> 0:04:36.519
<v Speaker 2>it in your wallet, it's yours and you can develop

0:04:36.529 --> 0:04:39.000
<v Speaker 2>it and you own the business model on top of it.

0:04:39.190 --> 0:04:41.328
<v Speaker 2>So this is how those are transacted. So you can

0:04:41.339 --> 0:04:44.678
<v Speaker 2>go to any nt marketplace like open sea for example,

0:04:44.690 --> 0:04:47.970
<v Speaker 2>or blur and just simply look for land and you

0:04:47.980 --> 0:04:50.779
<v Speaker 2>will be able to buy and sell NTS in that market.

0:04:50.790 --> 0:04:53.700
<v Speaker 2>We own actually a big portfolio of land. We've invested

0:04:53.709 --> 0:04:56.959
<v Speaker 2>quite early in land on platforms like the sandbox and

0:04:56.970 --> 0:04:59.618
<v Speaker 2>the central land and been through the whole journey of

0:04:59.709 --> 0:05:03.339
<v Speaker 2>seeing parcels go from $50 all the way to $20,000

0:05:03.350 --> 0:05:05.730
<v Speaker 2>and now back to 10,000. So it's been a pretty

0:05:05.738 --> 0:05:10.809
<v Speaker 2>exciting real estate market, very volatile. We developed over 200

0:05:10.820 --> 0:05:14.518
<v Speaker 2>parcels and that amounts to about 100 million square feet

0:05:14.529 --> 0:05:17.019
<v Speaker 2>if you are translating that in the real world. So

0:05:17.029 --> 0:05:20.078
<v Speaker 2>it's a significant amount of real estate development that we've made.

0:05:20.779 --> 0:05:23.320
<v Speaker 1>We are looking at five things to know about buying

0:05:23.329 --> 0:05:26.010
<v Speaker 1>property in the metaverse. We learned that the metaverse is

0:05:26.019 --> 0:05:29.230
<v Speaker 1>basically a 3d version of the internet where many big

0:05:29.238 --> 0:05:33.570
<v Speaker 1>brands are building their presence through unique experiences and the

0:05:33.579 --> 0:05:36.940
<v Speaker 1>value of virtual land. All depends on what content is

0:05:36.950 --> 0:05:37.440
<v Speaker 1>created

0:05:37.515 --> 0:05:40.785
<v Speaker 1>on top of it. You need engaging and realistic content

0:05:40.795 --> 0:05:44.643
<v Speaker 1>for people to stay in your metaverse. Space buying land

0:05:44.654 --> 0:05:48.165
<v Speaker 1>in the metaverse is done through marketplaces that run on

0:05:48.174 --> 0:05:52.774
<v Speaker 1>the Blockchain network and are transacted using non fungible tokens

0:05:52.785 --> 0:05:53.204
<v Speaker 1>or

0:05:54.579 --> 0:05:58.029
<v Speaker 1>so for people who might want to buy land in

0:05:58.040 --> 0:06:01.880
<v Speaker 1>the metaphors, how should they go about doing it safely?

0:06:02.109 --> 0:06:04.739
<v Speaker 2>It's an investment. So of course, it is risky. The

0:06:04.750 --> 0:06:07.250
<v Speaker 2>last couple of years, everything was going up, it was

0:06:07.260 --> 0:06:10.149
<v Speaker 2>a bull market. So it felt safe when in fact,

0:06:10.160 --> 0:06:12.988
<v Speaker 2>it really wasn't. The key is to think about utility.

0:06:13.000 --> 0:06:15.609
<v Speaker 2>What are you going to do with this land because

0:06:15.619 --> 0:06:18.359
<v Speaker 2>just holding it and hoping that someone else will buy

0:06:18.369 --> 0:06:21.230
<v Speaker 2>it off you for more money. That's pure speculation. This

0:06:21.238 --> 0:06:22.469
<v Speaker 2>is not a safe

0:06:22.608 --> 0:06:25.928
<v Speaker 2>way to invest. The metaverse itself is not necessarily more

0:06:25.937 --> 0:06:28.577
<v Speaker 2>prone to scam. I would say that crypto and Web

0:06:28.588 --> 0:06:31.967
<v Speaker 2>three which does power the MERS because there is so

0:06:31.976 --> 0:06:36.787
<v Speaker 2>much financial incentives and it's vastly unregulated that did attract

0:06:36.798 --> 0:06:40.957
<v Speaker 2>people who were taking shortcuts or looking for quick profits

0:06:40.967 --> 0:06:43.327
<v Speaker 2>and sometimes at the expense of others. I think we've

0:06:43.338 --> 0:06:46.507
<v Speaker 2>seen a lot of those people getting flushed out. Obviously,

0:06:46.517 --> 0:06:49.416
<v Speaker 2>we have big scandals and smaller scandals and it's a

0:06:49.428 --> 0:06:50.558
<v Speaker 2>natural progression.

0:06:50.635 --> 0:06:54.726
<v Speaker 2>Unfortunately, of technology, there were also a lot of scam,

0:06:54.735 --> 0:06:57.665
<v Speaker 2>you know, in the first web revolution with websites that

0:06:57.675 --> 0:07:00.645
<v Speaker 2>promise things that didn't actually happen. We have to be careful,

0:07:00.656 --> 0:07:03.765
<v Speaker 2>the regulation is starting to happen. And I think overall

0:07:03.776 --> 0:07:05.455
<v Speaker 2>this is a good thing for the industry.

0:07:05.515 --> 0:07:10.365
<v Speaker 1>What does being careful look like though for the average investor?

0:07:10.395 --> 0:07:12.845
<v Speaker 1>Like what can you do realistically simple

0:07:12.855 --> 0:07:16.015
<v Speaker 2>things like do not click on links that you do

0:07:16.026 --> 0:07:18.115
<v Speaker 2>not know about, do not respond to

0:07:18.664 --> 0:07:20.334
<v Speaker 2>such as on Discord, which is where a lot of

0:07:20.343 --> 0:07:24.093
<v Speaker 2>scam is happening. Do not connect your wallets to websites

0:07:24.104 --> 0:07:26.753
<v Speaker 2>that you do not know basic things that we have

0:07:26.764 --> 0:07:29.414
<v Speaker 2>learned through time on the internet. Do not put your

0:07:29.424 --> 0:07:33.914
<v Speaker 2>credit card details. If it's not https connection, that's natural now.

0:07:33.924 --> 0:07:36.473
<v Speaker 2>But in 2000, this was not. So I think it's

0:07:36.484 --> 0:07:39.194
<v Speaker 2>just about relearning the new rules of web three, there

0:07:39.204 --> 0:07:41.253
<v Speaker 2>are a few nuances, but at the end of the day,

0:07:41.264 --> 0:07:44.093
<v Speaker 2>you know, a digital wallet is still real money. And

0:07:44.104 --> 0:07:46.424
<v Speaker 2>so just like you wouldn't open your wallet in front

0:07:46.433 --> 0:07:46.614
<v Speaker 2>of

0:07:46.691 --> 0:07:49.861
<v Speaker 2>strangers necessarily, you should also be careful in that way

0:07:49.872 --> 0:07:50.511
<v Speaker 2>in the digital

0:07:50.522 --> 0:07:54.421
<v Speaker 1>world. How is Landolt using AI perhaps to enhance the

0:07:54.432 --> 0:07:56.851
<v Speaker 1>metaverse experience and make it more accessible?

0:07:56.861 --> 0:08:00.701
<v Speaker 2>We started to use generative ai to many prototype environments.

0:08:00.712 --> 0:08:03.562
<v Speaker 2>So if we go to a client and the client

0:08:03.571 --> 0:08:06.002
<v Speaker 2>wants us to build a hotel, for example, even though

0:08:06.011 --> 0:08:09.421
<v Speaker 2>every hotel and building would be different, there are elements

0:08:09.432 --> 0:08:13.272
<v Speaker 2>that are consistent. For example, a number of floors, you know,

0:08:13.282 --> 0:08:14.641
<v Speaker 2>a structure with lifts,

0:08:14.720 --> 0:08:16.850
<v Speaker 2>things like this. So we can use A I to

0:08:16.859 --> 0:08:20.299
<v Speaker 2>kind of prototype the core of the experience and then

0:08:20.309 --> 0:08:23.299
<v Speaker 2>use our own internal development to tweak to make it

0:08:23.309 --> 0:08:26.410
<v Speaker 2>really unique. So we are basically able to do that

0:08:26.420 --> 0:08:28.570
<v Speaker 2>a lot faster. One of the problems in the metaverse

0:08:28.579 --> 0:08:31.309
<v Speaker 2>right now is generally the lack of things to do

0:08:31.450 --> 0:08:33.369
<v Speaker 2>and the lack of things to do comes from the

0:08:33.380 --> 0:08:36.650
<v Speaker 2>limitation with the content. There's just not enough experiences out

0:08:36.659 --> 0:08:39.809
<v Speaker 2>there to build a true network. We have monitored about

0:08:39.820 --> 0:08:42.669
<v Speaker 2>2000 experiences in the metaverse today.

0:08:42.900 --> 0:08:45.760
<v Speaker 2>Imagine if the internet only had 2000 websites that would

0:08:45.770 --> 0:08:48.609
<v Speaker 2>be a very, very small network. So we need more content,

0:08:48.619 --> 0:08:50.989
<v Speaker 2>we need more things to do to accelerate that. We

0:08:51.000 --> 0:08:53.309
<v Speaker 2>need to give tools for people to make it easier

0:08:53.320 --> 0:08:55.380
<v Speaker 2>for them to build. So A I is going to

0:08:55.390 --> 0:08:58.510
<v Speaker 2>enable people to build things quicker, to build things faster.

0:08:58.520 --> 0:09:00.549
<v Speaker 2>And as a result, it would be cheaper, meaning that

0:09:00.559 --> 0:09:00.929
<v Speaker 2>more people

0:09:01.015 --> 0:09:03.645
<v Speaker 2>will be able to build today, you know, an average

0:09:03.655 --> 0:09:08.044
<v Speaker 2>metaverse activation probably costs $100,000 let's say, which is fine

0:09:08.054 --> 0:09:10.344
<v Speaker 2>for big brands. And this is the reason why the

0:09:10.354 --> 0:09:13.364
<v Speaker 2>only ones building are brands. But the metaverse is not

0:09:13.375 --> 0:09:16.385
<v Speaker 2>meant to be a giant mall with only brands there.

0:09:16.395 --> 0:09:19.044
<v Speaker 2>We want people to be able to create content, right?

0:09:19.349 --> 0:09:21.559
<v Speaker 2>And so this is what needs to happen for the

0:09:21.570 --> 0:09:24.319
<v Speaker 2>metaverse to become mainstream. We need more tools, we need

0:09:24.330 --> 0:09:27.718
<v Speaker 2>to democratize the creation layer so that everyone can start

0:09:27.729 --> 0:09:30.400
<v Speaker 2>building more content. And this will create the size of

0:09:30.409 --> 0:09:32.909
<v Speaker 2>the network and the diversity of content that we need

0:09:32.919 --> 0:09:35.719
<v Speaker 2>for the metaverse to actually go beyond the hype Samuel.

0:09:35.729 --> 0:09:37.340
<v Speaker 2>Thank you very much. Thanks for having me.

0:09:38.010 --> 0:09:41.369
<v Speaker 1>Well, that wraps up our discussion on investing in virtual

0:09:41.380 --> 0:09:44.449
<v Speaker 1>land in the metaverse. We learned that the metaverse is

0:09:44.460 --> 0:09:47.630
<v Speaker 1>basically a 3d version of the internet where many big

0:09:47.640 --> 0:09:51.179
<v Speaker 1>brands are building their presence through unique experiences

0:09:51.679 --> 0:09:54.229
<v Speaker 1>and the value of virtual land. Well, it all depends

0:09:54.239 --> 0:09:56.799
<v Speaker 1>on what content is created on top of it, you

0:09:56.809 --> 0:10:00.429
<v Speaker 1>need engaging and realistic content for people to stay in

0:10:00.440 --> 0:10:04.500
<v Speaker 1>your metaverse. Space, buying land in the metaverse is done

0:10:04.510 --> 0:10:08.299
<v Speaker 1>through marketplaces that run on the Blockchain network and are

0:10:08.309 --> 0:10:12.429
<v Speaker 1>transacted using non fungible tokens or N F T s.

0:10:13.429 --> 0:10:16.770
<v Speaker 1>But just like other investments, there are risks to buying

0:10:16.780 --> 0:10:20.598
<v Speaker 1>virtual property and investors need to be vigilant online to

0:10:20.609 --> 0:10:22.159
<v Speaker 1>avoid getting scammed.

0:10:22.900 --> 0:10:26.569
<v Speaker 1>And finally artificial intelligence or A I can play a

0:10:26.580 --> 0:10:30.989
<v Speaker 1>big role in making the metaverse more accessible via tools

0:10:31.000 --> 0:10:35.340
<v Speaker 1>that will help people build their own content. Those were

0:10:35.349 --> 0:10:38.468
<v Speaker 1>the five things you need to know about buying property

0:10:38.479 --> 0:10:42.729
<v Speaker 1>in the metaverse. My guest today Samuel Hooper, Ceo of

0:10:42.739 --> 0:10:46.409
<v Speaker 1>land Fault Money Mind airs every Saturday at 10 30

0:10:46.419 --> 0:10:48.929
<v Speaker 1>PM on Media Corp C N A. You can also

0:10:48.940 --> 0:10:51.799
<v Speaker 1>catch us online at C N A dot Asia or

0:10:51.809 --> 0:10:52.619
<v Speaker 1>on youtube.