Of the current corporate initiatives to build a Metaverse are "going anywhere," and specifically mentions Meta as one that he thinks would "misfire."
In response to a tweet from Dean Eigenmann, co-founder of Dialectic, who thinks venture capitalists might be mistaken about what makes for the ideal metaverse, Buterin said that while he believes "The metaverse is going to happen," he doesn't think any of the current attempts from corporations, like Mark Zuckerberg's Meta, are going to succeed.
The Metaverse is generally defined as a highly dynamic 3D online environment that emphasizes social interaction. Some people hope that augmented reality (AR) and virtual reality (VR) may someday power the Metaverse.
Buterin's remarks come despite the fact that a number of successful blockchain-based metaverse initiatives, such as Decentraland (MANA) and The Sandbox (SAND), have recently debuted. Buterin, on the other hand, remarked that its use cases are still unclear, and that he does not believe Meta's attempt to create a metaverse would be effective in its current form.
“We don't really know what the term "metaverse" means yet, and it's far too early to tell what people genuinely desire. As a result, everything Facebook develops today will fail miserably.”
Meta has built a variety of AR and VR applications, including the Meta Horizons Workroom, a virtual reality room where colleagues may meet and collaborate on ideas. Meta has also created first-generation smart glasses that enable users to connect to the metaverse by capturing audio and video and immersing themselves in virtual worlds.
Others argue that centralized metaverses, such as those proposed by Meta and Microsoft, may have an impact on the decentralization of ownership of commodities and services inside such metaverses.
On the other hand, Metaverse developers such as Decentraland and Sandbox have established the Open Metaverse Alliance (OMA3) with the goal of creating more transparent, inclusive, decentralized, and democratized metaverses.
Read also: Top Metaverse News: One of Hong Kong's Universities to Build Metaverse Campus
