Vitalik Buterin doesn’t believe that corporations will succeed in creating virtual worlds

Well-known players in the crypto market are skeptical about the attempts of large IT companies to develop something decent in the field of metaverses. None of the corporations understands the real needs of users, says Ethereum co-founder Vitalik Buterin.

According to the crypto enthusiast, a noteworthy metaverse will definitely appear, but this will not be the merit of large corporations, or it will turn out to be minimal. Earlier, Buterin criticized Mark Zuckerberg’s Meta, noting that everything the company is currently focused on will fail in the future.

The co-founder of Ethereum is sure that none of the corporations now understand what users really want: the industry is still very young.

“I still don’t believe that the best metaverse will be created in the ways that venture capitalists are used to working. The industry is in such a state right now that I’d rather be playing World of Warcrfat than playing half of this metaverse shit,” Dialectic co-founder Dean Eigenmann wrote earlier.

In a response message, Buterin noted that he believes in the inevitable emergence of the metaverse, but does not think that “the existing attempts by corporations to deliberately create a virtual world will lead to something.”

Recently, Meta has been actively working on creating its own metaverse, but so far, the company has not made any significant progress. Earlier, Reality Labs, part of the Metaverse development structure, announced a loss of $2.8 billion for the second quarter of this year.

Another problem may be the assertion by the US Antimonopoly Service that the corporation intends to become a monopolist in the field of virtual universes. The regulator recently blocked the company’s purchase of VR sports app Supernatural and its developer Unlimited.

“Meta plans to expand its virtual reality empire with this app that proves the value of space to users. The company would be one step closer to its ultimate goal of owning the entire Metaverse.”

Do you think only big companies will be able to dominate the metaverse? Or does everyone have a chance?