• Many investors have suspected Mark Zuckerberg’s dream of the metaverse is doomed to fail, prompting Meta stock to more than halve over the past six months.  Now they have a prominent critic to support them.
• Vitalik Buterin, creator of the Ethereum blockchain that ranks second only to Bitcoin in total market cap, said the Facebook founder and his company Meta are jumping the gun with investments running in the billions of dollars to create products that ultimately may never find a market.
• And Buterin has good reason to want it to succeed rather than fail. That’s because the two crypto coins that bear his signature, ETC and then later ETH, are expected to facilitate all sorts of trade in the mixed-reality metaverse and its decentralized financial system known as Web3.

“It’s far too early to know what people actually want,” he posted on Saturday. “So anything Facebook creates now will misfire.

“I don’t think any of the existing corporate attempts to intentionally create the metaverse are going anywhere”

See:  Vitalik’s Announces Next 4 Phases of Ethereum’s Development Which is Only 40% Done

Zuck's response:

“It will be a high-end device focused on professional users and work, with high-resolution color mixed reality,” Zuckerberg said on Wednesday. “I think people are going to be pretty blown away by this.”

Zuckerberg cannot dismiss the criticism leveled by Buterin lightly, since the latter characterizes himself as a believer in the metaverse.

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Forkast | Danny Park | Aug 1, 2022

Ethereum cofounder Vitalik Buterin has taken a shot at MicroStrategy chief executive officer Michael Saylor, calling him a “total clown” after the latter called the world’s second-largest cryptocurrency “inherently unethical.”

• “Why do maximalists keep picking heroes that turn out to be total clowns?” Buterin wrote on Twitter on Sunday as a reply to a video clip of Saylor saying that securities laws are based on the 10 commandments in the Bible and hence not antiquated.

See:  Vitalik Proposes Web3 Credentials of the Future: ‘Soulbound Tokens’

• Saylor has previously classified Ethereum as a security, citing its background of being issued through an initial coin offering (ICO), hard forks, having a management team and more.
• Earlier this month at the Blockchain Economy Istanbul conference, the MicroStrategy CEO also questioned Ethereum’s ethics — “’Ethically sound’ means I need to know that nobody could change [the protocol], which includes Vitalik,” Saylor said.

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