Vitalik Buterin: metaverse "this is what will happen", but "it will take time"
According to Ethereum creator Vitalik Buterin, Meta's attempt to call the metaverse a "mistake" is due to the fact that no one can think of what this term actually means.
In a Twitter thread discussing what the metaverse might look like, he said that the corporate projects currently underway do not look promising, and he specifically criticized Meta (an organization banned in the territory of the Russian Federation), a technology giant founded and managed by Mark Zuckerberg, using the company's former name.
"We don't know the definition of the 'metaverse' yet, it's too early to know what people really want," Buterin said on Twitter. "So everything Facebook creates now doesn't matter."
The metaverse is often described as the evolution of the modern Internet, centered around immersive 3D worlds and online communities where people interact using virtual reality headsets and augmented reality forms. Although Buterin did not share how corporations imagine the metaverse, he described its creation as a somewhat inevitable step in the development of modern technologies.
Because of how the metaverse will be formed, there is tension between the centralized power of corporations and the decentralized forms of ownership that blockchain technology provides. The Web3 group of companies recently teamed up to set standards for the metaverse when companies including Microsoft, Meta and Sony announced a separate alliance.
Sandbox is currently one of the most popular projects of the Web3 metaverse, with virtual plots of land tied to NFT property. And Yuga Labs, which created the Bored Ape Yacht Club, is in the early stages of its own Otherside metaverse game project, recently conducting a first-class technical demonstration of this virtual world.
The term metaverse first appeared in the science fiction novel "Snow Accident", written by Neil Stevenson in 1992. The term was applied to the "computer universe" transmitted to the character through a set of glasses and headphones. Meta's official bid for the metaverse began when the company changed its name from Facebook to Meta in October. The rebranding followed the company's 2014 acquisition of Oculus, a company that makes VR headsets with a focus on games, for $2 billion.
"I think the metaverse is the next chapter for the Internet," he said. Zuckerberg last year. "Today we are seen as a social media company, but in our DNA we are a company that creates technologies to connect people, and the metaverse is the next frontier."
Meta reported in the company's latest earnings report that its metaverse-specific division, Facebook Reality Labs (FRL), lost $2.81 billion in the second quarter. And last year, the company lost $10.2 billion developing software, technologies and content for the metaverse.
https://coin-signal.com/cryptonews/vitalik-buterin-metaverse-this-is-what-will-happen-but-it-will-take-time/
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