Ethereum Co-Founder Vitalik Buterin Criticizes Company’s Metaverse Attempt – “Everything Facebook Makes Now Will Fail” – Metaverse Bitcoin News

Ethereum Co-Founder Vitalik Buterin Criticizes Company’s Metaverse Attempt – “Everything Facebook Makes Now Will Fail” – Metaverse Bitcoin News
Ethereum Co-Founder Vitalik Buterin Criticizes Company’s Metaverse Attempt – “Everything Facebook Makes Now Will Fail” – Metaverse Bitcoin News

On Saturday, Ethereum co-founder Vitalik Buterin took to Twitter and offered his perspective on “existing corporate attempts to create the metaverse.” Buterin noted that a metaverse will happen, but he doesn’t think the current corporate attempts are going anywhere.

Ethereum’s Vitalik Buterin shares his thoughts on existing corporate attempts at metaverse

This weekend, Vitalik Buterin discussed the metaverse after sharing a tweet from Dialectic co-founder and blockchain auditor Dean Eigenmann, who so he doesn’t think the metaverse “will happen in the ways VCs are currently funding.” Buterin shared Eigenmann’s tweet Saturday and agreed with the assessment.

“The ‘metaverse’ is going to happen, but I don’t think any of the existing corporate attempts to intentionally create the metaverse are going anywhere,” Buterin so. 24 hours later, Buterin’s tweet about the metaverse is approaching 10,000 likes and close to 1,500 retweets.

Buterin’s metaverse statement received many responses and one individual wrote: “I think that the barrier to entry is a nuanced part of developing research hardware has created a rare case of a necessary condition that favors large incumbents. The idea wouldn’t even be under discussion without Quest 2.”

Buterin responded to this specific tweet and shared his perspective. “My criticism is deeper than ‘Metaverse Wikipedia will beat Metaverse Encyclopedia Britannica’,” Ethereum co-founder black. 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 creates now will fail.”

Facebook has focused a lot of energy on metaverse concepts and even renamed the company Meta long after it acquired virtual reality company Occulus. Many other corporate entities are looking to build some kind of metaverse, and the term metaverse has been an overused catchphrase in thousands of press releases and articles.

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Business leaders attempt to solve metaverse problems, crypto supporters say Metaverse will be an “organic community” and “help incorporate other communities”

So far, the so-called metaverse is arguably an incomplete mess of virtual worlds, non-fungible tokens, alternate and augmented realities, artificial intelligence, three-dimensional (3D) worlds, and video game concepts. Many individuals, skeptics and research have questioned whether or not the metaverse will be a disaster.

However, executives from Disney, Microsoft and Warner have described how they would deal with problems in the metaverse. A Ubisoft executive said he believes players are rejecting non-fungible tokens (NFTs) because they don’t understand the benefits.

The Twitter account of the YouTube channel Lily’s Show reacted to Buterin’s statement and so: “totally agree — the real power of the ‘metaverse’ lies in organic community building. The ecosystem and foundations are already here (in many ways thanks to you). Excited to see it flourish in the next few years.

Another person responded to Buterin’s tweet, saying:

I have a theory – It’s to work with each of the communities and build out a simple sandbox style game first (high quality, non-online). I think the crucial component is to help incorporate other communities and not just base it on your own.

Tags in this story

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What do you think of Buterin’s comment on the current trend of corporate metaverse concepts? What are your thoughts on the metaverse? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is the news editor at News and a financial technology journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for News about the disruptive protocols emerging today.

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