Can We Eat in the Metaverse?

The Lempert Report
March 18, 2022

Phil: Let's talk about the metaverse as we are doing now every single week. More and more is hitting about the, metaverse just talking to a retailer, on Friday, who said, you know, we're scared of it. We know everybody's doing it. We need to know more about this, and we need to figure out, where, where our grocery store can play in the metaverse. So I guess the first question that we need to ask ourselves is can we eat in the metaverse? 

Sally: Well, we can't really eat yet, as far as I know, I don't know how we're gonna do that, but, but the same question has occurred to me. What are the real world benefits of food in the metaverse? And it's really, it's really starting to occur to me that there are a lot of great benefits, you know, this weekend, my son got on his Oculus and showed to and, and, and gave it to me to try out and what, what he was doing was he was going into a virtual kitchen and he was finding ingredients and he was making something and I thought, wow, this is a fantastic way to teach cooking. But, but there are some other great ways that this is that real world benefits are coming out of this. And so we're seeing this with like celebrity chefs are getting involved, where you can go in and you can shop at a digital farmer's market, buy your ingredients, then you can combine them and create a, an NFT. And you can use that NFT. In some cases you're using it to like for coupons or, there are supper clubs that are being created where people get together in the metaverse and then, put their money, pull their money to their NFTs together and go to a real restaurant. But there's, there's certainly, are appearing to be some great benefits. 

Phil: Yeah. And then there's this one company called onerare, which is built as the world's first food metaverse. And what they're doing is they're selling shares if you would or NFT to different chefs to be part of this. So on average it costs about 300 bucks. What they want to do is they want to have a thousand chefs. I think, I think they want to have a thousand chefs to be part of this. My only concern about the metaverse, and we've seen it with bit coin. We've seen it with second life. Everything is that some of these startups that are gonna be doing this that are gonna be selling these things, frankly, it's just they can make money. The underlying idea about a metaverse to your point is to create a community, where people can get together. They can talk, maybe they meet at a restaurant. You know, I am, I am very much in favor of the metaverse and everything that can be done. I think we are gonna have certain things that, that are opportunistic for a lot of these companies. And as a result, I think there's gonna be some people that get ripped off. 

Sally: Yes. Well, and we are seeing a lot of companies, startups that are financing their business before they even deliver a, a product to people. And, and one of, one of the things we read about was a wine company, a wine maker that is selling vintage wines, but, but they're, it's, you're going to get it in 30 years, you know, so 

Phil: If the winery still exists in 30 years.  And so it is Interesting if the guy doesn't take the money and run. 

Sally: Exactly. 

Phil: So, yeah, well, we, we will continue to be watching the, metaverse continuing to educate about the metaverse.