Facebook’s Metaverse will ‘misfire’, says Ethereum Crypto founder

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The world of cryptocurrency is one that can only exist through community investment, and its success proves that. The idea of communities coming together to bolster a platform is also something that’s essential to the virtual world of The Metaverse. However, many are confident that the crowds will refuse to flock to this next-gen technology.

One of the key progenitors of The Metaverse is Meta, the recently rebranded Facebook parent company. Despite losing billions on the technology, people are seemingly not biting on the company’s futuristic promise.

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Ethereum founder on Facebook’s Metaverse

In a public statement on Twitter, Ethereum crypto founder Vitalik Buterin explained that Facebook’s Metaverse will fail. Even with the company’s massive investment, Facebook’s virtual world will be a “misfire”.

The belief is that Facebook is too big to fail. As one of the biggest companies to have ever existed, the social media company could lose billions upon billions every year. But there will be a limit.

Buterin believes that the vagueness of what the Metaverse is in this moment in time is key to its Carole failure. When asked if Facebook’s singular Metaverse will collapse, he claimed:

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“My critique is deeper than ‘Metaverse Wikipedia will beat Metaverse Encyclopedia Britannica’. It's that we don't really know the definition of ‘the metaverse’ yet, it's far too early to know what people actually want. So anything Facebook creates now will misfire.”

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The Metaverse is inevitable?

Despite his claims that Facebook’s Metaverse will crumble, Buterin is still confident that the idea of a Metaverse will happen. A virtual world where everyone interacts is apparently an inevitability.

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“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,” He said.

Whether or not the creation of a Metaverse is inevitable or not has yet to be seen. However, if it is created, will Meta be in charge? We think not.