The Ethereum co-founder Vitalik Buterin firmly believes in the concept of the Metaverse. Even so, he expressed skepticism about how corporations are pursuing the metaverse concept and predicts that Facebook parent company Meta’s Metaverse will “misfire”.
“The “metaverse” is going to happen,” Vitalik Buterin tweeted. Buterin believes that none of the current corporate initiatives to deliberately create the metaverse “are going anywhere.”
In response to a tweet, he wrote: “Anything Facebook creates now will misfire,” contending that companies centered on the Metaverse would probably fail because “it’s far too early to know what people actually want.”
Vitalik was quoting a Tweet thread by blockchain auditor Dean Eigenmann, who also appears to believe that the metaverse, its ideas, and its concepts make sense.
It’s that we don’t really know the definition of “the metaverse” yet, the Ethereum co-founder added.
To maintain its top spot in the metaverse, Facebook has more than doubled its efforts in this area. But just a few days back, Meta’s FRL Division for Metaverse reported losses of $2.81B in Q2. FRL labs are involved in Meta’s virtual reality and augmented reality-based operations, especially for the metaverse.
As evidenced by the fact that they intend to move forward with their plans for Metaverse despite the current cryptocurrency crash, Meta appears to be very optimistic about the future in this sector.