Vitalik says Meta's metaverse will fail

Buterin believes that any existing attempts by the business to create a Metaverse are not "going anywhere," noting that Meta is one of the businesses he thinks will "fail."

Dialectic co-founder Dean Eigenmann believes that venture capitalists may be wrong about the ideal metaverse. In response, V God responded that although he believes that "the metaverse will happen", he does not think that any current attempts by companies such as Mark Zuckerberg's Meta will "get anything".

The Metaverse is often described as a highly interactive 3D online world focused on social connection, eventually driven using augmented reality (AR) and virtual reality (VR).

Vitalik’s comments came despite the fact that blockchain technology has recently launched many successful metaverse projects such as Decentraland (MANA) and The Sandbox (SAND). However, Vitalik said its use case remains unclear. He added that he doesn't think Meta's attempt to create a metaverse will be successful in its current form.

"We don't yet know what the 'metaverse' is, and it's too early to know what people really want. So anything Facebook creates right now is not going to be successful."

Meta has built a number of AR and VR applications, such as the Meta Horizons studio, a VR room for colleagues to connect and collaborate on ideas. Meta also built the first generation of smart glasses that allow users to connect to the Metaverse by recording audio and video and be surrounded by virtual worlds.

Other critics argue that centralized metadata, such as those proposed by Meta and Microsoft, could affect the decentralization of ownership of the goods and services contained in those metadata.

On the other hand, metaverse developers like Decentraland and The Sandbox have launched the Open Metaverse Alliance (OMA3) with several Web3 projects, which focuses on building a more transparent, inclusive, decentralized and democratized metaverse. universe.

The Metaverse Standards Forum (MSF) also strives to build on these values and establish standards for a more open and interoperable Metaverse. Members of MSF include 35 technology companies including Meta, Microsoft, Nvidia, Alibaba, Unity and Sony.

That mirrors well Meta CEO Mark Zuckerberg's letter to shareholders last October, in which he said the Metaverse was the next chapter of the internet and that "we are seen as a social media company, But in our DNA, we're a company building technology that connects people, and the Metaverse is the next frontier."