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Facebook's 'Metaverse' plans meet optimism and contempt from crypto fans - R1 NEWS

Facebook’s ‘Metaverse’ plans meet optimism and contempt from crypto fans

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Mark Zuckerberg. Source: a video screenshot, Youtube, CNBC Television

the Facebook Founder Mark Zuckerberg has gone public about his ambitions to turn his social media giant into a “metaverse company,” a move that could potentially impact the company’s Diem stablecoin plans.

In a meeting with The Verge, Zuckerberg asserted that “a good vision of the metaverse is not one that a specific company builds”, but rather one that has a “sense of interoperability and portability”.

The metaverse is explained as a collective virtual shared space, created by the convergence of a virtually enhanced physical reality and a physically persistent virtual space, including the sum of all virtual worlds, augmented reality, and the internet.

Zuckerberg said:

“You have your avatar and your digital assets, and you want to be able to teleport anywhere. You don’t just want to be stuck in the business of a business. […] I think for it to work really well you want it to be very portable and interconnected.

He added that he envisioned an “embodied Internet”, which would not be managed centrally, but rather operated by a number of different actors in a “decentralized” fashion.

By Business Insider, a Facebook spokesperson, claimed that Zuckerberg “didn’t believe the metaverse was something a business could build or govern on its own.” Instead, the spokesperson noted “this is a collaborative movement that must consider developers and designer communities to be successful.”

Supporters of the metaverse have long speculated on what kind of role crypto, in-game currencies, other digital tokens, blockchain technology, and non-fungible tokens (NFTs) could play in the future development of the space.

And while global regulators have already forced Facebook and its partners Diem (formerly Libra) to ditch their broader global stablecoin plans in favor of a scaled-down version, the social media giant may already be considering a new price as metaverse architects are looking for a dominant. digital currency for use in space.

On Reddit r / CryptoCurrency under, some expressed doubts, with one joking that Facebook was quickly becoming irrelevant as it was now largely populated by “toxic boomers shouting at each other.”

Another argued that the Metaverse auction “will ultimately fail” because “the next generation of the Internet will not work on Facebook.”

But not all were opponents. A Redditor claimed that Facebook “has the world’s best developers and the world’s greatest team working in [virtual reality] from afar ”, adding:

“They are so far ahead of the game that I have no doubt that they will control the first major mainstream metaverse and that with their pockets they will have exclusive offers. [with musicians and movie-makers]. “

Meanwhile, on Twitter, Miko Matsumura, the founder of the Evercoin crypto exchange, and a general partner at Gumi Cryptos Capital, also called for caution.

A positive-minded crypto enthusiast claims that this decision was inevitably a “big deal” for the world of NFTs, the Ethereum blockchain protocol on which most NFTs are launched and “crypto in general”.

But Matsumura wrote in response that “there is no ‘The Metaverse’ that I want to do anything with.”

He nods:

“A single monolithic metaverse means a monopolist. We want a multiverse. A single metaverse is an obstacle to human freedom. We need alternative places where we can escape if the “main” turns out to be a scam. “

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Learn more:
– Facebook to increase payments before Diem launch
– Will Facebook’s Mark Zuckerberg kill or save Bitcoin (the goat)?

– 3 reasons why Facebook should buy and hold Bitcoin
– Why this Bitcoin-believing startup is betting on Facebook’s Diem instead



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