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On Saturday, Ethereum founder Vitalik Buterin discussed the Metaverse after sharing a tweet from Dialektik co-founder and blockchain auditor Dean Eigenmann, who said he that the Metaverse’s potential is not as big as venture capitalist actually like to believe, as shown by their financial backings this year.
Buterin who agrees with Eigenmann’s views, reposted the tweet and added:
“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.”
Since it has gone up, Buterin’s Metaverse tweet already passed 10,000 likes and go more than 1,600 retweets.
Furthermore, in response to a comment, Buterin said that it is yet way too early to really be able to envision what the ‘metaverse’ entails and turned to Facebook:
“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.”
“My critique is deeper than ‘Metaverse Wikipedia will beat Metaverse Encyclopedia Britannica,’” the Ethereum chief added.
So far, Facebook’s parent company Meta has put a lot of resources into metaverse concepts. Nevertheless, its metaverse division, Facebook Reality Labs (FRL), founded in 2021, booked $10.2 billion in losses for the first calendar year. During the first two quarters of 2022, FRL reported losses of $2.96 billion and $2.81 billion on metaverse operations. Meta’s CEO, Mark Zuckerberg said that his company is still “laying the groundworks” for what he believes will make his firm trillions eventually.