Scarcity in the Metaverse: Space, Location and the Attention Economy

Critics argue that virtual land lacks inherent value as it is not truly scarce. In this paper we propose a conceptual framework that distinguishes between space and location and may serve as an explanation why people still pay significant price premiums for certain virtual land parcels. While space is indeed plentiful, location possesses distinct attributes that can serve as a valuable asset within the attention economy of the metaverse. We introduce several terms, including «static and dynamic links», or «address sets», and provide managers with the necessary tools to evaluate whether their application can benefit from acquiring virtual land.