Ethereum co-founder Vitalik Buterin believes corporate attempts to build the metaverse will not succeed.
Buterin explained on Twitter, showing his agreement with the opinions of Dean Eigenmann, who claims that although the ideas about the metaverse as a concept make sense, this will not happen through venture capitalist funding, that the metaverse will happen, but not under corporate attempts.
Vitalik believes that Meta will not work
It is currently Facebook's parent company Meta that is leading global corporate interests in creating the metaverse, even creating this new name for its business around this new concept. Buterin believes that everything Facebook does in relation to the metaverse will fail. It is worth noting that Buterin is a relevant figure in the crypto scene and a highly listened to voice by many followers of decentralized finance. Buterin has spoken on many occasions about NFTs or Web 3, but this is one of the few times he has spoken about the metaverse, with many members of his community agreeing with these opinions.
Thus, although the concept of the metaverse is still in development, Buterin believes that technological giants such as Facebook will have difficulties in laying the foundations for this new universe.
The founder of Ethereum expressed these views in Twitter, making it clear that he considers it unlikely that the Metaverse will be built through these large companies.
For Buterin, the metaverse is something that will surely happen, but he does not believe that these deliberate corporate attempts will be the ones that will successfully shape this new reality.
The Metaverse and Facebook Meta
According to research by McKinsey & Co., the value of the Metaverse could reach $5 trillion by 2030. This means that the expected impact for the Metaverse could be high, especially considering e-commerce as the main economic force for this sector.
Instead, last Thursday, Meta, the Facebook arm dedicated to developing this metaverse, announced that its Reality Labs segment focused on the metaverse is suffering quarterly and annual losses, so it is possible that Buterin's predictions about Facebook's attempt at creating the metaverse are a fairly realistic omen.
