Facebook’s metaverse will ‘misfire,’ says Vitalik Buterin

Ethereum co-founder Vitalik Buterin doesn’t believe that any of the existing attempts by corporations to create a Metaverse are “going anywhere,” pointing to Meta as being one he believes will “misfire.” 

Responding to a tweet from Dialectic co-founder Dean Eigenmann, who believes venture capitalists may be wrong about what constitutes an ideal metaverse, Buterin said that while he believes “The metaverse is going to happen,” he doesn’t think any of the current attempts from corporates such as Mark Zuckerberg’s Meta are “going anywhere.”

The Metaverse is generally described as a highly-interactive 3D online world focused on social connection, with some looking to eventually be powered by augmented reality (AR) and virtual reality (VR). 

Buterin’s comments come despite a number of successful metaverse projects recently being launched on blockchain technology like Decentraland (MANA) and The Sandbox (SAND). However, Buterin stated that its use cases are still not clear, adding that he didn’t think Meta’s attempt at creating a metaverse will be successful in its current form. 

“We don’t really know the definition of ’the metaverse’ yet, it’s far too early to know what people actually want. So anything Facebook creates now will misfire.”

Meta has built a number of AR and VR applications, such as the Meta Horizons Workroom, a VR room for colleagues to connect and collaborate on ideas. Meta has also built first-generational smart glasses that allow users to connect to the metaverse by recording audio and video and being surrounded by virtual worlds.

Other critics are of the view that centralized metaverses such as those proposed by Meta and Microsoft may affect the decentralization of ownership of goods and services within those metaverses. 

On the other hand, metaverse developers like Decentraland and Sandbox have come together with several Web3 projects to launch the Open Metaverse Alliance (OMA3), which focuses on building more transparent, inclusive, decentralized and democratized metaverses. 

Related: 34% of gamers want to use crypto in the metaverse, despite the backlash

The Metaverse Standards Forum (MSF) also strives to build on these values and establish standards for a more open and interoperable metaverse. Meta, Microsoft, Nvidia, Alibaba, Unity and Sony are among the 35 tech companies that became members of the MSF.

This reflects well Meta CEO Mark Zuckerberg’s letter to stakeholders in October last year, where he said that the Metaverse is the next chapter for the internet, adding, “We’re seen as a social media company, but in our DNA, we are a company that builds technology to connect people, and the metaverse is the next frontier.” 

All Dutch and English crypto news!

Cross-chains in the crosshairs: Hacks call for better defense mechanisms

2022 has been a lucrative year for hackers preying on the nascent Web3 and decentralized finance (DeFi) spaces, with more than $2 billion worth of...

Is it foolish to expect a massive Ethereum price surge pre-and-post Merge?

Ether's (ETH) impressive 85% gain in the past thirty days will have surprised even the most bullish investors and it makes the $800 range seen...

Over 1,900 block-producing nodes in the Solana ecosystem, new report reveals

Solana released its first ever, 'Validator Health Report' which revealed information on its network operators. According to the report the network has over 1,900 block-producing...

Gala is announcing a partnership with Stick Figure Productions to distribute Four Down on the Blockchain

Jackson, WY, USA, 11th August, 2022, Chainwire Gala, one of the leading innovators in blockchain gaming and music, has announced the launch of Gala Film. This...

Beste exchanges

Koop je crypto bij Bitvavo