Ethereum co-founder Vitalik Buterin sees Facebook’s metaverse failing

Ethereum co-founder Vitalik Buterin has expressed disbelief over attempts by corporations to create a metaverse.

Buterin singled out Meta’s metaverse dreams, saying he believes it will “misfire.”

Buterin was responding to a tweet from Dialectic co-founder Dean Eigenmann.

Eigenmann believes venture capitalists may be wrong about what constitutes an ideal metaverse.

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

The Metaverse is generally described as a highly-interactive 3D online world focused on social connection.

Buterin stated that the use cases are still not clear, adding that he didn’t think Meta’s attempt at creating a metaverse will be successful in its current form.

Other critics are of the view that centralized metaverses such as those proposed by Meta and Microsoft may affect the decentralization of ownership of goods and services within those metaverses.

Metaverse developers like Decentraland and The Sandbox have come together with several Web3 projects to launch the Open Metaverse Alliance (OMA3), which focuses on building more transparent, inclusive, decentralized and democratized metaverses.

The Metaverse Standards Forum (MSF) also strives to build on these values and establish standards for a more open and interoperable metaverse.

Meta, Microsoft, Nvidia, Alibaba, Unity and Sony are among the 35 tech companies that became members of the MSF.

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