The metaverse of Meta will be destroyed, says Vitalik Buterin

The one still called Facebook recently bet on the metaverse: renamed itself “Meta” and allocated a large part of its budget to the domain. But is it destined to fail? Yes, according to Vitalik Buterin, the creator of the Ethereum (ETH) network. What are his arguments?

The Meta project is not working according to Vitalik Buterin

If the word “metaverse” is in vogue today, it is also subject to much debate. Especially about its usefulness and the interest it can have for consumers. This point comes back Vitalik Buterinwho spoke about the initiatives of Meta in the Twitter thread.

According to him, the metaverse as a concept is here to stay, but not necessarily the initiatives of companies:

The “metaverse” will happen, but I think that attempts by companies to try to deliberately create a metaverse will not go anywhere.»

In question, according to the creator of the Ethereum network, a definition that remains unclear. The first studies on the subject show this: potential future users of the metaverse do not really know what it is. And even within the ecosystem, its meaning is hotly debated.

👉 To understand everything in the field – Metaverse: virtual worlds based on blockchain and NFTs

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A solution to a non-existent problem?

According to Vitalik Buterin, no one knows at this point what the metaverse is, and what uses can be democracy. So a clear conclusion:

Anything Facebook does at this point is doomed.»

The creator of Ethereum takes a criticism that is often heard in the ecosystem, with the question: do companies create solutions to problems that don’t exist ?

So far, the initial feedback from potential users seems to be going in this direction. A study published last week showed that a large portion of consumers do not really understand what the metaverse is. and what will be its interest. And Meta’s domain division suffered a huge loss last quarter: $2.81 billion. However, we recognize the heavy emphasis on research and development, which tends to undermine these results.

However, the sector may represent a higher turnover in the coming years. Others consider it $800 billion by 2024. The McKinsey firm is even more optimistic, as it estimates that the metaverse sector will weigh 5,000 billion dollars by 2030. Any mass adoption that goes through education, therefore, the general public must seize more wide area for this to happen.

👉 Related – Meta’s Metaverse Division Lost $2.81 Billion This Quarter

published in editions Larousse

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Source: Vitalik Buterin via Twitter

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