Vitalik Buterin, the founder of Ethereum, believes that the metaverse is an indefinite concept and any attempts to create it today will fail.
Buterin shared his thoughts on Twitter, adding that the emergence of a metaverse is inevitable, but “any attempt by corporations to create it will not work.”
The most notable player creating the metaverse is Meta. Buterin also mentioned Zuckerberg’s company in his post:
“Everything Facebook is building right now is going to fail.”
In his opinion, it is too early to judge what people really want.
Although the concept of the metaverse is still unclear, it is widely used to refer to the next generation Internet, where users will be able to work, play and communicate with others in immersive virtual worlds.
MMPORG releases such as Fortnite and Runescape have been described as early examples of the metaverse, however crypto-centric games such as Decentraland and The Sandbox have been successful in conquering the space of the metaverse.
Several major tech companies have announced the development of their own metaverses as early as 2021. Many brands have picked up the brand and purchased land in virtual reality.
When Zuckerberg announced plans for a metaverse last October, the space was at its height of popularity. Recently, the founder of Meta shared that his company once again recorded a $3 billion loss in its initiative. In other words, judging by the numbers, the company still has a long way to go to prove Buterin wrong in his recent statement.