02 August
Last Update: 02 August

Vitalik Buterin Makes Statements about Metaverse

Vitalik Buterin, co-founder of Ethereum, made statements on Metaverse. Vitalik made statements claiming that corporate investments are incorrect and would backfire.

Furthermore, Vitalik stated that none of Meta's current initiatives would be valuable in the future, saying, "It's too early for anything; nobody understands what Metaverse means right now."

Vitalik Buterin: Meta Will not Get What It Wants on Metaverse!

Buterin responded to a post by Dialectic Co-Founder Dean Eigenmann on an ideal Metaverse. Buterin stated that while he believes the Metaverse will eventually come to fruition, he does not believe that the current endeavors of companies such as Meta, controlled by Mark Zuckerberg, would yield any benefits.

Vitalik Buterin indicated that he does not believe the corporations' present attempts to construct the Metaverse would be successful. He also indicated that Meta was unable to accomplish the anticipated outcome. "The Metaverse will happen," Buterin stated, "but I don't think present corporate efforts to consciously build the Metaverse will succeed."

Despite Buterin's harsh opinions, there are several successful Metaverse initiatives using Blockchain technology, such as Decentraland and Sandbox. Meta has designed a virtual reality space to bring employees together. Those involved in this sector can exchange ideas. Several AR and VR apps, such as Meta Horizons Workroom, have been added to this VR room. In addition, the business said that it is working on first-generation smart glasses that would allow users to connect to the Metaverse via capturing video and exploring virtual environments.

Companies' Metaverse Initiatives

A number of business organizations have stated their intention to join the Metaverse mainstream since the beginning of last year. For example, in October 2021, Facebook changed itself Meta in order to develop a Metaverse. Soon later, Microsoft revealed its ambitions for Metaverse. NFTs may also be found on Facebook and Instagram. Reality Labs, a division of Facebook's Metaverse, lost $2.8 billion in the second quarter of 2022. The unit lost $2.9 billion in the first quarter and revealed $5.7 billion lost in total.
As Vitalik Buterin stated, there is still a lot of misconception regarding what Metavers is. While numerous community members agreed with his Metaverse ideals, others disagreed. According to Ser Jeff Garzik, one “bad” move is required for a better Metaverse.


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