For those of you who are fascinated with the metaverse and these virtual reality games, you’ve all heard of Roblox (RBLX).
Essentially, this company, at least today, is basically nothing more than a video game, at least from my perspective.
But there are many out there who are enamored with the metaverse, non-fungible tokens (NFTs) and all the “stuff” that goes along with it.
Personally, I’m not.
I can’t wrap my head around spending $400,000 on the rights to a picture of a monkey or several million dollars on the idea of owning some “virtual real estate.”
Now, this is coming from a guy who has made millions of dollars of net worth from actual, real, tangible dirt.
Perhaps there’s a future for this, just like there’s a future for space tourism.
The reality is, it doesn’t appeal to the masses. If you want to make real money and add real value ,the product, service or skill you have to offer must appeal to the masses.
I can afford a six minute trip to space. Would I spend $200,000 to do it? Absolutely not!
I can afford to own some virtual real estate. Will I ever buy any? Absolutely not!
I want to own something that they’re not making more of. Actual real estate is one of those things.
No matter what happens, the earth itself only has so much dirt on it.
I want the dirt in a desirable location so it not only remains valuable, but increases in value over time.
Just like I want to own stock in a company or contracts on a commodity that do exactly the same.
Something tangible is much more appealing.
Roblox, which remains a metaverse conceptual video game, got their butts handed to them when they missed their earnings.
They lost 25%+ of their market value in a day.
The image above speaks for itself.
If this game can tie into the metaverse idea moving forward and if they can add to their user base and host advertising like the rest of the social media companies do, perhaps they can turn themselves around and into profit.
In the meanwhile, they’re testing their all time lows from several weeks back and will likely close below that last area of support.
We’ll be keeping an eye on Roblox to see how it transpires from here and report back to you!
Rules to Live By
“Success is not final, failure is not fatal: it is the courage to continue that counts”
― Winston S. Churchill
Until next time, I wish you a beautiful and blessed day!
Yours In Trading Success,
Anthony Speciale Jr.