QOTD = Quote of the Day
Oh, dear! I wonder if the FOMC is looking at the deflationary bust in virtual real estate? Will Jay Powell mention it in his presser today?
Do you think real estate in the metaverse is at risk due to climate change? After my last two homes where my family lived were incinerated in the Northern California wildfires, I may be moving to a nice virtual beach house in the metaverse soon, and very soon. Escape to the metaverse!
By some accounts, virtual real estate in the metaverse has dropped by about 80 percent in value from its high point, more than the decline in physical real estate during the same period. – Hamza Khan, McKinsey & Co
Global Macro Monitor 
So is there a market for residential design in the metaverse?
Asking for curious architect who is pretty nifty in 3D programs.
Yes, sir!
https://www.mckinsey.com/~/media/mckinsey/email/rethink/2023/01/2023-02-01d.html
Cheers Gregor on the link.
I found one thing particularly amusing in WSJ video – the cliché of the architect studiously designing on a AO sized draughting board using ink and pencils while the ‘digital build’ gets handed off to hip gaming engine designers. I haven’t seen a board in architects office in over 15 years, and even then it was a single relic used for as a standing table for work in progress mark-ups (corrections) only and not design work. I have worked completely paperless for 7 years now. Semi paperless for 20. But it can be funny to see how stereotypical ideas persist.
So, if anyone is interested in the architectural design aspect of this unreal world all I found a video on architecture firms (like ZHA) that are involved in metaverse design. Link follows.
Interesting, and thanks, my brother from a different Irish grandmother. Do you use Autodesk software?
Yeah, pretty much nothing else. I should be getting a comission for the good work I do in promoting and training people on their products!
They had the same expansion tactic as Meta / Facebook or some tech giants. On ghe back of the success of AutoCAD they bought up new promising AEC softwares and united them under a single ‘roof’ / market offering in order to monopolise the entire market. Then they could price gouge as much as they like by renting them out. And it worked!
I was working on this linked project up to quite recently but I finished up with that firm a few days ago. It was time to move on.
All in all, it is a long long way from the metaverse!
https://amp.theguardian.com/world/2022/jan/07/trinity-college-dublin-begins-90m-project-to-relocate-vulnerable-books
Very cool…