Vitalik Buterin Says That Facebook’s Metaverse Will Not Work

Vitalik Buterin, the co-founder of Ethereum, thinks that none of the currently active initiatives by corporations to construct a metaverse are “going anywhere.” He cites Meta as an example of an initiative that he believes would “misfire.”

Buterin said that while he believes “The metaverse is going to happen,” he does not believe that any of the current attempts from corporates such as Mark Zuckerberg’s Meta are “going anywhere.”

He was responding to a tweet from the co-founder of Dialectic, Dean Eigenmann, who claims to believe VCs may be wrong as to what constitutes a perfect metaverse. Eigenmann tweeted that venture capitalist may be wrong about what constitutes an ideal 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”

Most people think of the Metaverse as a highly dynamic 3D online world with a strong emphasis on social connection. Some people are working toward the goal of someday powering the Metaverse with augmented reality (AR) and virtual reality (VR) (VR).

Buterin’s remarks were made even though several successful metaverse initiatives, such as Decentraland and The Sandbox, have recently been built using blockchain technology. Nevertheless, Buterin claimed that its use cases are still not evident, and he added that he did not believe that Meta’s attempt at constructing a metaverse would be effective in its current form:

It’s just too soon to tell what people want; therefore, we don’t have a good grasp on what “the metaverse” means just yet. Everything that Facebook creates right now is doomed to fail.”

Meta has developed various augmented reality (AR) and virtual reality (VR) apps, such as the Meta Horizons Workroom, a VR room where coworkers can communicate and collaborate on ideas. In addition, Meta has developed the first iteration of its smart glasses, which enable users to connect to the Metaverse by capturing audio and video and being immersed in a variety of virtual worlds.

 

What Do Other Critics Think?

Other critics think that centralized metaverses, like the ones proposed by Meta and Microsoft, may affect the decentralized ownership of commodities and services contained within those metaverses.

On the other hand, developers of metaverses such as Decentraland and The Sandbox, together with numerous other Web3 projects, have formed the Open Metaverse Alliance (OMA3) to create metaverses more democratic, inclusive, transparent, and decentralized.

The Metaverse Standards Forum (MSF) is also working toward the goal of building on these core values and establishing standards that will make the metaverse more open and interoperable. Now, 35 different technology companies are members of the MSF, including Meta, Microsoft, Nvidia, Alibaba, Unity, and Sony.

This is a good reflection of Meta CEO Mark Zuckerberg’s letter to stakeholders in October of the previous year. In that letter, Zuckerberg stated that the Metaverse is the next chapter for the internet, and he added, “We’re seen as a social media company, but in our DNA, we are a company that builds technology to connect people, and the metaverse is the next frontier.”

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