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Elon Musk, CEO of SpaceX and Tesla, is not impressed by the Metaverse. Can Meta be the reason?
The Metaverse market has been growing really high as there is a considerable rate of penetration of users for many such applications like content creation, gaming, learning, social interaction, training, and virtual shopping.
In 2021, Facebook has announced to invest of US$10 Billion in building the metaverse and changed the company’s name to Meta.
The platform would allow users to communicate with friends, families, or colleagues using their digital avatars.
Experts have anticipated that the metaverse will penetrate through many market spaces and industries as there will be a build-up of industries in the future.
The revenue will be increasing incessantly. Meta was the first to take the initiative but nowadays, experts think that Meta will ruin the metaverse for everyone.
Facebook says it wants to help fix misinformation running rampant across the internet — a problem it may have helped create in the first place.
Facebook parent Meta announced a new AI-powered tool on Monday, called Sphere.
It’s intended to help detect and address misinformation, or “fake news”, on the internet.
Meta claims that it’s “the first [AI] model capable of automatically scanning hundreds of thousands of citations at once to check whether they truly support the corresponding claims.”
The metaverse is looking less and less exciting all the time with brands hosting bizarre events nobody wants to attend, but the slew of companies bringing VR realities to life certainly isn’t failing for a lack of trying.
In fact, employees at Facebook say founder and company head Mark Zuckerberg is obsessed.
“[It’s] the only thing Mark wants to talk about,” an anonymous former director-level employee told Business Insider in a report published in April 2022.
According to the report, Zuckerberg is focused solely on metaverse content creation but says the project will take a decade or more to complete, likely requiring improvements to the Oculus Quest 2, also called Meta Quest 2 since Facebook purchased Oculus and later changed its name.
Despite the project’s scope, Zuckerberg isn’t giving employees a clear strategy, but he still wants to inform every department company-wide about the pivot to focusing on the metaverse.
Meta CEO Mark Zuckerberg recently announced a virtual store for Meta Avatars.
The users can now acquire a variety of accessories to show off to their friends in the virtual world.
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It also introduced Meta Pay, a payments network that will also contribute to the payments network in the metaverse.
The company has tried its hands at developing digital currencies before but tasted only failure.
Meta’s attempts to create a metaverse are not “going anywhere”, said Ethereum co-founder Vitalik Buterin.
He believes that Meta’s concept of a virtual space will only “misfire.”
The metaverse is a blend of offline and online experiences in an interactive digital space, where social interactions and transactions can occur simultaneously.
In a tweet responding to Dialectic co-founder Dean Eigenmann, Buterin said that the venture capitalist may be wrong about the concept of the metaverse.
He said while he isn’t against the metaverse and is bullish that the “metaverse is going to happen”, he thinks tech corporates such as Mark Zuckerberg’s Meta are not “going anywhere.”
“We don’t really know the definition of ‘the metaverse’ yet, it’s far too early to know what people actually want,” he said in a tweet.
Elon Musk, CEO of SpaceX and Tesla, is not impressed by the Metaverse and is not convinced that we will all be disappearing into this hyper-virtual world anytime soon.
Musk’s comments came in an interview with the Youtube channel ‘The Babylon Bee’.
When asked about the Metaverse, Musk’s response was, “I don’t know if I necessarily buy into this Metaverse stuff, although people talk to me a lot about it.”
He further added that he does not see a future where people want to stay in this virtual reality that companies such as Meta are pushing.
Musk said he does not believe that people would abandon the physical world and replace it with a virtual one, especially with a screen on their faces. - analyticsinsight
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