Vitalik Archives - Top Crypto Game

the Metaverse is still conceived as a brand

admin — Wed, 27 Mar 2024 12:10:55 +0000

Vitalik Buterin, co-founder of Ethereum, spoke about the Metaverse, emphasizing that it still needs a definition and that, rather than a product, it is instead conceived as a brand.

Vitalik Buterin: “the Metaverse is poorly defined and is seen as a brand”

During the BUIDL Asia conference in Seoul, Vitalik Buterin, co-founder of Ethereum, expressed his views on the metaverse, criticizing its current situation.

Basically, Buterin argues that the metaverse still needs a definition, and is often conceived more as a brand rather than a product. Here are his words:

“The Metaverse is poorly defined and often seen more as a brand than as a product. It is conceived as a virtual universe that everyone can participate in and that is not owned by anyone. It is often associated with virtual reality, where the needs are simpler, as if one wanted a laptop without the laptop.”

Not only that, according to Buterin, people often associate the metaverse with virtual reality (VR), while in reality there is much more.

Actually, the concept of metaverse refers to a decentralized virtual world, with immersive social environments and experiences that use avatars, virtual reality (VR) and augmented reality (AR) technologies. Even blockchain technology plays an important role, like the bond that unites everything.

Vitalik Buterin and his suggestions on the Metaverse at the BUIDL Asia conference

Continuing his speech at BUIDL Asia, Buterin then suggested a way that could make the metaverse work correctly. Here are his words:

“For the metaverse to work properly, we need something that combines ‘all the different elements of the virtual world that we already have, including encryption, virtual reality, and some parts of artificial intelligence, in the right way’.”

The co-founder of Ethereum then also included something related to the crypto and blockchain world in his speech.

Basically, Buterin argues that if the abstraction of accounts becomes mainstream, it will have to balance security and convenience, something that Ethereum has not yet done.

X’s abandonment to use Farcaster

Just today, Buterin was also mentioned in the context of social networks. In fact, the “father of Ethereum” seems to have left X, former Twitter, to use Farcaster.

To lift everything up, it would be Elon Musk, owner of X, who questioned the reason for Buterin’s exit from the social platform.

By analyzing Buterin’s behavior, it seems that he has actively participated in Farcaster, an alternative to Twitter focused on the crypto world.

Not only that, already last February, Buterin had also expressed his appreciation for the crypto-social emphasizing the advantages of the channels compared to Twitter.

Farcaster is currently riding the wave of success, especially after the launch of Frames, which makes posts on the social crypto interactive, leading to an increase in daily active users and revenue. Not only that, support for Solana addresses has also contributed to the platform’s growth.

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Look Out! Crypto Whales are Accumulating These 3 Altcoins NOW

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The "ONLY" SEC SAFE Crypto Coins? More DELISTING For US Customers | Major Polygon XRP news

Altcoin Buzz — Fri, 11 Aug 2023 04:16:04 +0000

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ETHEREUM ETH MAJOR TROUBLE?? Ripple XRP Controversy | Binance Major Move!!

Altcoin Buzz — Mon, 24 Apr 2023 23:18:51 +0000

Ethereum gets delisted on a crypto marketplaces, Binance has a major move in the U.S, SBF gets ready to be extradited to the U.S and Ripple/ XRP have controversy with Vitalik?

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Vitalik Buterin speaks out on the future of the metaverse

admin — Mon, 01 Aug 2022 09:29:35 +0000

In a tweet yesterday, Ethereum co-founder Vitalik Buterin expressed his thoughts about the future of the metaverse.

The current and future vision of the metaverse according to Vitalik Buterin

The metaverse still lacks a clear definition, according to Vitalik Buterin

The metaverse is a world that is yet to be explored, a strange land where new realities and big tech are competing to earn the mantle of next leader in the field.

Like all things new, they are trying to create a model that can meet the needs of future consumers. Most likely, many of the newly developed paradigms will disappear, making way for what the market really needs.

For now, the most developed areas are those related to gaming and the buying and selling of virtual lands and items using NFTs.

However, the metaverse is not just that. The technology in and of itself will enable the innovation and evolution of many of the activities that have already been engulfed with the advent of the Internet.

Thanks to Web 2.0, new business models have been created that were not possible before. Today, thanks to blockchain technology, Web3 will be able to revolutionize existing businesses and create new products that are not yet on the market.

The problem, however, is that there is still no clear concept that can guide the coming developments. Everyone knows that it will be the future, a future that, according to McKinsey research, will reach a business volume of $5 trillion in 2030.

For now, we will have to go by trial and error, trying to follow demand and evolving user needs. Some things will work, outlining the path to follow, and many others will fail, giving participants in the race the “luxury” of learning from the mistakes of their competitors.

And this is precisely the thinking stemming from the genius of Vitalik Buterin, who expresses his opinion in a tweet:

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

The opinion of the co-founder of Ethereum appears even a bit more drastic, believing that none of the existing attempts will go anywhere.

Buterin mentions the Meta project: a generic example for the industry

In response to the original tweet, there appears a response from a user who mentions Meta‘s Quest 2 visor.

Buterin replies, revealing a thought surely shared by all, including those currently involved in the development of products related to the metaverse:

My critique is deeper than “Metaverse Wikipedia will beat Metaverse Encyclopedia Britannica”. It’s that we don’t really know the definition of “the metaverse” yet, it’s far too early to know what people actually want. So anything Facebook creates now will misfire.

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

“[…] It’s that we don’t really know the definition of “the metaverse” yet, it’s far too early to know what people actually want”.

Indeed, the key concept revolves around the actual definition of the metaverse, something no one has yet been able to give.

He then concludes by stating that whatever Facebook creates from now on will be a complete failure.

Of course, these are merely opinions, which regardless of whether they come from the minds of experts in the field, may be confirmed or disproved by time.

The post Vitalik Buterin speaks out on the future of the metaverse appeared first on Top Crypto Game.