Metaverse Will Happen, But Meta Will Fail, Says Ethereum Founder Understand – Money Times

Buterin was unconvinced by the way centralized companies view the metaverse. (Image: Foundation/Matt Reamer)

the founder of EthereumVitalik Buterin – discussed how the metaverse it’s possible, but pointed out that corporate plans for virtual worlds don’t look promising.

In a series of tweets, Buterin particularly criticized when when) – Big Tech founded and led by Mark Zuckerberg – referring to the company by its former name, Facebook.

According to Decrypt, the founder of Ethereum said that the attempt to metaverse of Meta will “fail” because no one has been able to define what the term actually means.

“We don’t really know the definition of ‘metaverse‘ Yet it is still too early to know what people really want. So whatever Facebook creates now will fail,” Buterin said in a tweet.

The creator of the world’s second largest cryptocurrency was unconvinced by how companies imagine the metaversebut said the creation of these virtual worlds is an inevitable step towards current technology.

“O metaverse will happen,” Buterin added in another tweet. “But I don’t believe that any of the existing attempts to intentionally create the metaverse will happen somewhere.

The subject of how metaverse will be modeled is often a source of tension between centralized companies and the decentralized forms offered by blockchain technology.

According to Decrypt, a group of companies from Internet 3.0 come together to set standards for metaverseafter centralized companies such as Meta, sony e Microsoftentered into a separate agreement.

Meta’s Metaverse Division Lost $1 Billion

Last week, Meta reported Loss of $2.8 billion of the division of metaversecalled Reality Labs, during the second quarter of this year (2Q22).

the sharing of metaverse The company reported a profit of $452 million for the second quarter of 2022, compared to $695 million in the first quarter. Reality Labs previously reported a loss of $2.9 billion in 1Q22.

Zuckerberg’s company is also being sued for trying to monopolize the metaverse.

The antitrust regulator of United States – Federal Trade Commission (FTC) – has filed a lawsuit to stop Facebook from buying the company Unlimited and its virtual reality exercise app, Supernatural.

“Meta would be one step closer to owning all of them’Metavers‘”, it appears in the controller folder.

*With decryption information

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