According to Ethereum creator Vitalik Buterin, Meta’s attempts to hunt down the Metaverse “misfire”, primarily because no one can think of what the term really means.
In a Twitter thread discussing what the Metaverse might look like, he said the company’s ongoing corporate projects don’t look promising, calling Meta, the tech giant founded and run by Mark Zuckerberg, the company’s. Especially criticized for using the former name.
“We don’t really know the definition of ‘metaverse’ yet.It’s too early to know what people actually want,” Buterin said. Tweet. “Everything Facebook is creating now will misfire.”
The Metaverse is often described as the evolution of today’s Internet around the immersive 3D world and online communities, where people interact using virtual reality headsets and augmented reality.
Buterin is unconvinced about how companies envision the metaverse, but says establishing one is an inevitable step in the advancement of technology today.
“There will be a ‘metaverse’,” Buterin continued. “But I don’t think existing companies’ attempts to intentionally create a metaverse are going nowhere.”
There is tension between the centralized authority of the enterprise and the decentralized ownership provided by blockchain technology as to how the metaverse is formed.Recently, a group of Web3 companies Came together Companies such as Microsoft, Meta, and Sony have announced other partnerships that aim to set the standard for the Metaverse.
of sandbox Is currently one of the most popular Web3 metaverse projects, with virtual plots of land associated with NFT ownership. Yuga Labs, the creator of Bored Ape Yacht Club, is in the early stages of its own Metaverse game project, The Otherside, and recently First look tech demo of that virtual world.
The term Metaverse first appeared in the science fiction novel “Snow Crash” written by Neil Stevenson in 1992. The term applies to the “computer-generated universe” that is communicated to the character through a set of goggles and earphones.
Meta’s formal bid for the Metaverse is based on the company’s changed its name From Facebook to Meta in October. The rebranding came after the acquisition of Oculus, a game-focused VR headset manufacturer, for $ 2 billion in 2014.
“I believe the Metaverse is the next chapter in the Internet.” Zuckerberg Said last year. “Today we are considered a social media company, but in our DNA, we are the ones that build the technology that connects people, and Metaverse is the next frontier.”
Meta said in the company’s latest earnings report that Facebook Reality Labs (FRL), a division dedicated to the Metaverse, lost $ 2.81 billion in the second quarter. And last year, the company lost $ 10.2 billion in developing software, technology and content for the Metaverse.
“This is obviously a very expensive undertaking in the next few years,” Zuckerberg said. “But as the Metaverse becomes more important in every part of our lives, we’ll be happy to play a key role in building it.”
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