Facebook’s Metaverse “Will Misfire” Says Ethereum Co-founder Vitalik Buterin

While the concept of the Metaverse remains undefined, the Ethereum developer believes that companies like Facebook would struggle to build it.

Aug 4, 2022
by Anvi Saini
Facebook’s Metaverse “Will Misfire” Says Ethereum Co-founder Vitalik Buterin
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Buterin has stated that he is skeptical of any existing corporate initiatives to build a Metaverse.

“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.” he tweeted.

Metaverse Will Happen: Vitalik Buterin 

On July 31, the Ethereum developer revealed his thoughts on where the young field may be heading, implying that organisations attempting to establish the Metaverse are unlikely to succeed. While Buterin believes the Metaverse "will happen," he also believes that none of the current corporate efforts to consciously establish the metaverse is going anywhere.

Without a doubt, the most well-known corporate participant to show interest in the Metaverse to date has been Meta, Facebook's parent company, which renamed itself late last year as part of a pivot to embrace the Metaverse. Vitalik Buterin's condemnation of corporate entry into the area included Meta. 

Anything Facebook develops right now will fail, he said in response to a tweet, adding that Metaverse-focused businesses will fail because it's simply too early to know what people truly want.

Over the years, Buterin's public profile with Ethereum has grown, and he has become famous for being outspoken. However, he often uses his Twitter account and blog to speak about Ethereum's technology and how decentralisation may affect the world.

Even though he's talked a lot about NFTs in the past, saying that the 2021 boom surprised him and making subtle digs at the industry's speculative side, he hasn't talked much about the Metaverse.

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