Ethereum Co-Founder Vitalik Buterin Criticizes Corporate Metaverse Attempts — ‘Anything Facebook Creates Now Will Misfire’ – Metaverse Bitcoin News

On Saturday, the co-founder of Ethereum, Vitalik Buterin, took to Twitter and gave his perspective on the “existing corporate attempts to create the metaverse.” Buterin noted that a metaverse will happen, but he doesnt believe the current corporate metaverse attempts are going anywhere.

Ethereum’s Vitalik Buterin Shares His Thoughts on Existing Corporate Metaverse Attempts

After sharing a tweet by Dean Eigenmann (co-founder of Dialectic, and auditor for blockchain), Vitalik Buterin, Vitalik discussed the metaverse this weekend. said he doesnt believe the metaverse “will happen in the ways VCs are currently funding.” Buterin shared Eigenmann’s tweet on Saturday and agreed with the assessment.

“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,” Buterin said. 24 hours later, Buterin’s tweet about the metaverse is closing in on 10,000 likes and close to 1,500 retweets.

Buterin’s metaverse statement got a lot of responses and one individual wrote: “I think the barrier to entry being a bleeding edge bit of evolving research hardware has created a rare case of a necessary condition favoring large incumbents. The idea wouldn’t even be under discussion without Quest 2.”

Buterin replied to the tweet with his opinion. “My critique is deeper than ‘Metaverse Wikipedia will beat Metaverse Encyclopedia Britannica,’” Ethereum’s co-founder replied. It’s that 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.”

Facebook has focused a lot on metaverse ideas and even changed the name of the company Meta after the acquisition Occulus (virtual reality company). Many corporate entities want to establish a metaverse. This catchphrase has been used many times in press releases and articles.

Corporate Execs Attempt to Address Metaverse Problems, Crypto Supporters Say Metaverse Will Be an ‘Organic Community’ and ‘Helping Incorporate Other Communities’

The so-called “metaverse” is an unfinished mess. It contains virtual worlds and non-fungible tokens. There are also alternative realities and augmented reality, artificial intelligence, 3D worlds and game concepts. Surveys and skeptics have all questioned the viability of the metaverse.

Disney, Microsoft, Warner executives have all described their plans to fix the problem in the metaverse. An executive at Ubisoft said he thinks gamers who reject non-fungible tokens (NFTs) because they don’t understand the benefits.

The Twitter account for the Youtube channel Lily’s Show responded to Buterin’s statement and said: “completely agree — the real power of the ‘metaverse’ is in organic community building. You are the catalyst for the ecosystem and foundation. Excited to see it flourish over the coming years.”

Another individual responded to Buterin’s tweet and said:

I do have a theory — It’s to work with each of the communities and build out a simple sandbox-style game at first (high quality, non-web-based). My view is that it’s important to work with other communities rather than relying on your own.

In this story, tags
3D worlds, Adidas metaverse, Buterin Metaverse, Critics, Dean Eigenmann, Disney, ETH, ether, Ethereum, Facebook, Lily’s Show, Meta, Metaverse, metaverse comments, metaverse critics, Microsoft, nft, NFTs, Nike, Non-fungible tokens, occulus, Organic Community, VCs, video game, Vitalik Buterin, Vitalik Metaverse, Warner

What do you think about Buterin’s commentary on the current trend of corporate metaverse concepts? Let us know your views on this metaverse topic. Comment below and let us know how you feel about the subject.

Jamie Redman

Jamie Redman is the News Lead for News. He also lives in Florida and works as a journalist covering financial technology. Redman joined the cryptocurrency community in 2011 and has been an active member ever since. Redman is passionate about Bitcoin and open-source codes. Redman is a prolific writer for News, with over 5,700 articles on the most disruptive protocols currently in development.

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