Ethereum Boss Vitalik Buterin Says Meta Is Not Considered Worthy Of Developing Metaverse

CEO Ethereum Vitalik Buterin. (Somagnews)

JAKARTA – Ethereum co-founder and CEO Vitalik Buterin recently responded to Dean Eigenmann's views on the future of the metaverse. According to Buterin, the metaverse will exist but cannot be realized at this time because it is considered too early.

He didn't think that “any existing company attempt to deliberately create the Metaverse would work.” This condition is also inseparable from Meta's efforts in developing the metaverse, which is considered to be trying to monopolize the metaverse in the same way as with social media.

"So whatever Facebook makes now will fail," said Vitalik Buterin, quoted from CryptoPotato.

However, he adds that the metaverse will exist. However, he believes that the existing companies will not succeed in creating a metaverse. Vitalik Buterin made this statement in a Twitter post on July 30, 2022.

The "metaverse" is going to happen but I don't think any of the existing corporate attempts to intentionally create the metaverse are going anywhere. https://t.co/tVUfq4CWmP

— vitalik.eth (@VitalikButerin) July 30, 2022

Mark Zuckerberg's company Meta (formerly Facebook) has become a hot topic for its monopolistic behavior. Previously, Facebook was about to dive into the world of cryptocurrency by developing a cryptocurrency called Libra.

However, there are problems with global regulators and policies. This condition forced the company to discontinue the cryptocurrency project.

According to a CryptoPotato report, last week the United States Federal Trade Commission filed a complaint to block Meta's plans to buy another company based in Metaverse.

“Instead of competing on the basis of excellence, Meta is trying to buy its way to the top,” wrote John Newman, deputy director of the FTC Competition Bureau.

For information, the social media giant is planning to acquire virtual reality (VR) company Within and the popular VR fitness app, Supernatural.

Buterin's opinion shows that Meta's attempt to monopolize the metaverse is done without first knowing what many people want such as decentralization, user data privacy, and others.