THE DAILY ENCRYPT

September 30, 2022

Vitalik Buterin Takes to Twitter to Disagree With Corporate Companies trying to Own The Metaverse

Vitalik Buterin (co-founder of Ethereum) took to Twitter on Saturday to share his thoughts about the "existing corporate efforts to create the metaverse."...
Photo by UK Black Tech

Vitalik Buterin (co-founder of Ethereum) took to Twitter on Saturday to share his thoughts about the “existing corporate efforts to create the metaverse.” Buterin said that while a metaverse may be possible, he does not believe the current attempts at corporate metaverse creation are going anywhere.

Vitalik Buterin talked about the metaverse this weekend after sharing a tweet by Dean Eigenmann, co-founder of Dialectic, and blockchain auditor. Eigenmann stated he didn’t believe that the metaverse would happen “in the ways VCs currently fund it.” Buterin agreed with Eigenmann’s assessment on Saturday.

Buterin stated that “The metaverse” is coming to pass, but I doubt any corporate attempts to create it are going anywhere. Buterin’s metaverse tweet now has close to 10,000 likes and 1,500 retweets 24 hours later.

Buterin’s metaverse statement received a lot of responses. One wrote: “I believe the barrier to entry, being a cutting edge bit of evolving hardware has created an uncommon case of a condition favoring large incumbents. Without Quest 2, the idea wouldn’t be even in discussion.

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Buterin replied to the tweet and shared his views. “My criticism is deeper than Metaverse Wikipedia will defeat Metaverse Encyclopedia Britannica’,” Ethereum’s cofounder responded. It’s because we don’t know what the metaverse is yet. Anything Facebook creates right now will fail.

Facebook has directed much of its energy towards metaverse ideas. The company Meta was renamed after Occulus, a virtual reality company, was acquired. Other corporate entities want to create a metaverse. The term metaverse is a catchphrase that has been used in thousands of press releases and articles .

Corporate executives attempt to address Metaverse problems, Crypto supporters say Metaverse will be an ‘Organic community’ and ‘Helping incorporate other communities’
The so-called metaverse has a lot of different virtual worlds, non-fungible tokens and artificial intelligence. Many skeptical and survey have asked whether the metaverse is a disaster.

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However, Warner, Microsoft and Disney executives have explained how they would deal with problems in the metaverse. Ubisoft stated that he believes gamers who don’t understand the benefits of non-fungible tokens are not understanding them.

Buterin’s statement was responded to by the Twitter account of Youtube channel Lily’s Show. stated that “completely agree — The real power and potential of the’metaverse’ is in the building of organic communities. You have already created the ecosystem and the foundation. We are excited to see it thrive in the next years.

A second person responded to Buterin’s tweet with the following:

My theory is to work with the communities and create a simple, non-web-based sandbox game. It is important to include other communities, and not just your own.

Elena Argyros

Elena Argyros

Elena is cryptocurrency writer / journalist based in Europe. She has extensive knowledge in the crypto space and is a solidity programmer by trade. Elena has built an extensive resume working with some of the most ground breaking blockchain firms. Being in Europe, Elena has amassed a large network of professionals in the space and states "The technology behind blockchain is going to impact everyone on earth in a good way, once you get to understand it".
Elena Argyros

Elena Argyros

Elena is cryptocurrency writer / journalist based in Europe. She has extensive knowledge in the crypto space and is a solidity programmer by trade. Elena has built an extensive resume working with some of the most ground breaking blockchain firms. Being in Europe, Elena has amassed a large network of professionals in the space and states "The technology behind blockchain is going to impact everyone on earth in a good way, once you get to understand it".

© 2022 The Daily Encrypt. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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