Metaverse is coming, but everything Facebook makes will fail
Big words from Ethereum co-founder Vitalik Buterin. He says the metaverse will be huge, but Facebook won’t make it.
Buterin is no stranger to Twitter and posts freely. On Saturday, he gave his perspective on the “existing corporate efforts to create the metaverse.” Buterin noted that there will be a metaverse, but he doesn’t believe the current collective metaverse efforts are going anywhere.
This weekend, Vitalik Buterin discussed the metaverse after sharing a tweet from Dialectic co-founder and blockchain auditor, Dean Eigenmann. The latter said he doesn’t believe the metaverse “will happen the way VCs currently fund.” Buterin shared the tweet van Eigenmann and agreed with him.
“The ‘metaverse’ is going to happen, but I don’t think the existing corporate efforts to intentionally create the metaverse are going anywhere,” Buterin said. The tweet received a lot of responses. Someone said, “I think the barrier to entry, a groundbreaking piece of evolving research hardware, has created a rare case of a necessary condition that favors large incumbents.” Buterin responded to this particular tweet, sharing his perspective. “My criticism goes deeper than ‘Metaverse Wikipedia will beat Metaverse Encyclopedia Britannica’. It’s that we don’t really know the definition of ‘the metaverse’ yet, it’s way too early to know what people actually want. So anything Facebook makes now will fail.”
The parent company of Facebook is Meta. They have invested a lot of energy and money in concepts. Many other business entities are looking for some kind of metaverse. And the term metaverse is a common slogan in thousands of press releases and articles. Managers try to tackle metaverse issues, crypto supporters say Metaverse will be an ‘organic community’ and ‘help include other communities’
So far, the so-called metaverse is arguably an incomplete mess of virtual worlds, non-replaceable tokens, alternate and augmented realities, artificial intelligence, three-dimensional (3D) worlds, and video game concepts. Many individuals, skeptics and surveys have questioned whether the metaverse will be a disaster. The future will tell.
