In a tweet discussing the nascent future of the metaverse, the creator of Ethereum suggested that the companies currently pushing the metaverse are going nowhere. Notably, Vitalik Buterin also specifically named Meta, the tech giant founded and run by Mark Zuckerberg, in his critique of businesses entering the space.
Although he does not deny the existence of the metaverse, he still insists that all current efforts have yielded nothing.
Vitalik Buterin has gained a reputation as a character who has been quite outspoken over the years. He has even been openly frustrated with the recent development of Ethereum and the crypto community and rebutted PlanB ‘s Stock-to-Flow model. Although he has commented a lot about the explosion of NFT, he has always been skeptical about the metaverse.
Metaverse Is Still A Vague Concept
The term metaverse first appeared in “Snow Crash,” a science fiction novel by Neal Stephenson in 1992. The term is applied to a computer-generated, transmitted universe to a character through a set of goggles and headphones.
To this day, the metaverse is often described as an evolution of the internet, centered around immersive 3D worlds and online communities, where people interact using virtual reality headsets and other forms of augmented reality.
The metaverse itself doesn’t refer to any particular technology or experience. Instead, it is a composite term that combines technologies such as virtual reality (VR), augmented reality (AR), and big data.
Furthermore, full metaverse functionality, accessible to all virtual users worldwide, does not yet exist. Creating immersive super-diverse experiences has always required cutting-edge technologies that may not be available today.
Although interest in the meta began to plummet at the end of the last quarter when the Meta giant held on to its ambitions.
After deciding to change the name in October, the American billionaire Zuckerberg reoriented the entire company in the direction of dominating the metaverse, having been acquiring many game studios, such as Oculus and Beat Games. But Meta’s plan to buy another VR sports app maker is in danger of falling apart because it was entangled in a lawsuit with the US Trade Commission (FTC) a few days ago.
