Ethereum's Vitalik Buterin Comes Out as VR Skeptic - U.Today

Ethereum co-founder Vitalik Buterin questioned the inferior of virtual world (VR) successful a recent tweet.

Echoing 1 of the astir fashionable talking points among cryptocurrency skeptics, Buterin argues that "VR for the involvement of VR" simply volition not work.

Hence, helium believes that the exertion is improbable to get superior traction until determination are fashionable applications. Buterin is convinced that specified applications bash beryllium (the aforesaid besides applies to crypto).

Facebook's metaverse gamble backfires

Buterin's comments travel after shares of Meta (formerly known arsenic Facebook) plunged 25% little connected Thursday aft the institution reported a disappointing acceptable of quarterly results. The tech institution reported a 2nd consecutive quarterly gross decline, and it is present connected way to grounds yet different driblet during the 4th quarter.

CEO Mark Zuckerberg's idiosyncratic luck collapsed by much than $11 cardinal successful a azygous day.

While the full assemblage suffered from losses successful 2022 owed to unfavorable macro conditions, Meta is taking a peculiarly hard beating owed to its wildly costly stake connected the metaverse that immoderate believe has accelerated the company's decease spiral.

The company's metaverse portion mislaid $9.4 billion, and 2023 is connected way to beryllium adjacent worse for the company. While Zuckerberg remains "pretty confident" in the company's existent direction, investors present presumption the erstwhile $1 trillion institution arsenic a implicit trainwreck.