Meta’s attempts to mould the Metaverse will ‘misfire:’ Ethereum’s Buterin

ambcrypto.com:

According to Ethereum’s Vitalik Buterin, Meta’s attempt to monopolize the metaverse would “misfire.” How so? Well, partly because no one has been able to define what the phrase means.

He claimed that ongoing business efforts don’t seem promising in a Twitter conversation about the potential design of the metaverse. He specifically targeted Meta, the internet giant created and led by Mark Zuckerberg, citing the company’s previous moniker. He said,

— vitalik.eth (@VitalikButerin) July 31, 2022

An immersive computer software called a Metaverse, which may also incorporate some aspects of virtual or augmented reality, allows users to interact with the environment and one another.

Buterin described the creation of the metaverse as a relatively inevitable stage in the development of current technology, even though he isn’t quite sold on how companies see it.

While the use of non-fungible tokens (NFTs) or blockchain technology in Meta’s metaverse is unlikely, several decentralized metaverse programs have sprung up recently that do.

The centralized control of companies and decentralized forms of ownership that blockchain technology enables are at odds over how the metaverse will be shaped. Recently, a group of Web3 businesses launched a separate partnership, with the support of Microsoft, Meta, and Sony, intending to create standards for the metaverse.

Interestingly, Facebook Reality Labs (FRL), Meta’s metaverse-focused company, reported