Ethereum Co-founder Vitalik Buterin warns of Facebook’s Metaverse Demise
- Vitalik Buterin warns of Facebook’s Metaverse collapse.
- Ethereum co-founder expresses confidence in the wider metaverse ecosystem.
Ethereum co-founder Vitalik Buterin ruminates of Facebook metaverse not standing a chance even though the Meterverse itself would make it. Vitalik doesn’t believe that the efforts put in place by the current corporates to create the metaverse will push through.
This comes after Vitalik Buterin indicated in a tweet “The “Metaverse” is going to happen but I don’t think any of the existing corporate attempts to create the metaverse are going anywhere”
The "metaverse" is going to happen but I don't think any of the existing corporate attempts to intentionally create the metaverse are going anywhere. https://t.co/tVUfq4CWmP
— vitalik.eth (@VitalikButerin) July 30, 2022
Facebook’s Meta in losses
This happens after Facebook mogul Meta reported in the 1st quarter, a loss of approximately $2.96B for the division followed by a loss of $2.86B in the 2nd quarter this year.in 2021 Zuckerburg defended Meta’s loss of roughly $10.2B by stating that the company was laying the ground for a successful 2030s.
Despite the loss, Facebook is battling it out with the tech beast Apple. Zuckerburg’s scheme is to produce cheaper alternatives to Apple. In the Philosophical battle, Meta is preparing to release its first AR headsets later this year, in accordance with its plan of letting people move with ease through a future immersive, 3D world with their virtual goods.
According to Vitalik Buterin, the current corporate plans put in place are just a flash in the pan. In its genesis moments, where it is hard to judge what the target audience really wants. However, this comes after a number of successful metaverse projects like decentraland and sandbox.