The co-founder of the world’s leading smart contract platform is skeptical that the first wave of the metaverse can succeed.
Ethereum (ETH) creator Vitalik Buterin tells his 4.1 million Twitter followers that while the concept of an online virtual world will eventually come to fruition, he thinks that current corporate visions for the metaverse are likely to fail.
The blockchain pioneer adds perspective to his initial comment by explaining that the world doesn’t have a clear picture of what the metaverse needs to be, highlighting that its creation will be more of a conceptual process rather than one company defeating another to achieve market dominance.
So anything Facebook creates now will misfire.”
Novi initially launched last October in the United States and Guatemala with users able to trade the dollar-pegged stablecoin Pax Dollar (USDP). Users have been advised to withdraw their funds as soon as possible.
Although Meta is scrapping its digital wallet protocol, the tech giant says it plans to use Novi’s technology in future products such as its metaverse project, according to a company spokesperson cited by Bloomberg.
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