Metaverse Will Happen, But Meta Will Fail, Says Ethereum Founder understand – Money Times


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Buterin was not convinced by the way centralized companies envision the metaverse. (Image: Foundation/Matt Reamer)

the founder of EthereumVitalik Buterin – discussed how the metaverse it could be, but pointed out that corporate projects for virtual worlds do not seem to be promising.

In a string of tweets, Buterin was especially critical of Goal (GOAL) – Big Tech founded and run by Mark Zuckerberg – referring to the company by its old name, Facebook.

According to Decrypt, the founder of Ethereum said that the attempt to metaverse de Meta will “fail”, as no one has been able to define what the term actually means.

“We don’t really know the definition of ‘metaverse‘ Still, it’s too early to know what people really want. So anything Facebook creates now will fail,” Buterin said in a tweet.

The creator of the second largest cryptocurrency in the world was not convinced by the way companies imagine the metaversebut stated that the creation of these virtual worlds is an inevitable step towards current technology.

“O metaverse will happen,” added Buterin in another tweet. “But I do not believe that any of the existing attempts to intentionally create the metaverse will get somewhere.”

The topic of how metaverse will be modeled is often a source of tension between centralized corporations and the decentralized forms offered by blockchain technology.

According to Decrypt, a group of companies from Web 3.0 met to set standards for the metaverseafter centralized companies such as Meta, Sony and Microsofthave joined in a separate agreement.

Meta’s metaverse division has a billion dollar loss

In the last week, Meta reported $2.8 billion loss of the division of metaversecalled Reality Labs, during the second quarter of this year (2Q22).

the division of metaverse The company reported earnings of $452 million for the second quarter of 2022, down from $695 million in the first quarter. Reality Labs previously reported a loss of $2.9 billion in 1Q22.

Zuckerberg’s company is also being sued for attempting to monopolize the metaverse.

The antitrust regulator of United States – Federal Trade Commission (FTC) – has filed a lawsuit to prevent Facebook from buying the company Unlimited and its virtual reality exercise app, Supernatural.

“Meta would be one step closer to owning all the ‘metaverse‘”, it appears in the regulator’s file.

*With Decrypt information

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