Vitalik Buterin, co-founder of Ethereum, advocates for a clear definition of the Metaverse, a concept widely perceived as a decentralized virtual realm offering immersive social interactions through avatars, virtual reality (VR), and augmented reality (AR), with blockchain technology serving as the underlying infrastructure.

Buterin highlights the ambiguity surrounding the Metaverse, noting its characterization more as a brand name than a tangible product. He emphasizes the common conception of a virtual universe where individuals can engage collectively, devoid of ownership. While often associated with virtual reality, Buterin suggests that the Metaverse transcends this singular medium.

According to Buterin, the Metaverse necessitates a holistic integration of various virtual world components, including cryptocurrency, virtual reality, and AI, to function effectively. He underscores the need for synergy among these elements to realize the full potential of the Metaverse.
Buterin said on stage during the BUIDL Asia conference in Seoul: “The Metaverse is one of those things that is very poorly defined. It is often seen more as a brand name than a product. It feels like everyone has this abstract idea of a virtual universe where they can all participate and be part of and that virtual universe is not actually owned by anyone. It’s frequently associated with virtual reality, where needs are simpler, akin to wanting a laptop without the laptop. It’s super useful but not really a-verse.
Buterin continued, arguing that while the Metaverse is often associated with virtual reality, it's not the be-all and end-all of the metaverse.

It’s super useful but not really a-verse," he said.

For the metaverse to work properly, we need something that combines “all the different virtual world elements we already have, including crypto, virtual reality, and some AI parts, in the right way," he said.