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Facebook’s Metaverse “Will Misfire” Says Vitalik Buterin

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Vitalik Buterin, co-founder of Ethereum, had said that the corporate attempts at the Metaverse will be unsuccessful and will even misfire. This was found when he was responding to tweets by Dean Eigenmann, Blockchain auditor. Let’s take a closer look at Buterin’s words about the corporate attempts at building a metaverse. 

What’s This About Corporate Attempts at Metaverse?

It seems that Eigenmann was struggling to formulate their conception of the Metaverse. “All the ideas on concepts make sense, but I still do not believe it will happen in the ways VCs are currently funding,” said Eigenmann. It was also mentioned that Eigenmann would rather hang out in World of Warcraft than to deal with the “Metaverse crap”.

Vitalik responded that “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.” “My critique is deeper than “Metaverse Wikipedia will beat Metaverse Encyclopedia Britannica””, he also added. Furthermore, he highlighted that it wasn’t the fact that we don’t really know the meaning behind “metaverse” yet, but rather it is far too early to know what people actually want. Indirectly, this would mean that anything Facebook creates will misfire.

Corporates and the Metaverse

Since last year, many corporate organisations have hopped on the metaverse trend. Facebook, is one that actually rebranded themselves as META to build a Metaverse in October of 2021. Soon after Microsoft revealed its Metaverse plans. What is more important is that NFTs are now available on Facebook and Instagram. Unfortunate things happen and Facebook’s Reality Labs lost $2.8 Billion in Q2 of 2022. 

As Vitalik Buterin wrote, there is still some uncertainty about the metaverse and what it actually brings, and while the community members agreed with his metaverse views, several others have disagreed. Particularly, Ser Jeff Garzik have come out to tweet about it as well saying that the “wrong” step is a necessary milestone on the path to a better metaverse. For more trending NFT news, follow the NFTeller community.

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