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The metaverse is more of a marketing buzzword than reality, Elon Musk says By BTC Peers

by Mike Robinson

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Elon Musk claims that the metaverse is more a marketing term than a reality.

Tesla’s CEO Elon Musk does not appear to be a huge fan of the metaverse. He said that the metaverse was more of a marketing term at this point.

Musk, in an early Monday tweet reacting to a video of David Letterman criticizing the idea of the internet, said the metaverse, otherwise referred to as Web3 is a “marketing buzzword.” The Tesla (NASDAQ:) boss had shared a TikTok video of Letterman criticizing Bill Gates over the idea of the internet.

Letterman described the metaverse as the beginning days of the internet. Musk responded by tweeting that, “given our almost inconceivable nature of the current, what will be the future?” He clarified his position in an additional tweet by stating that Web3 wasn’t real.

Many believe that the metaverse will be the next great thing. Many big companies and investors are racing to grab the opportunity. However, you’d have to agree with Musk. Although the metaverse is still an emerging industry, it’s vast and complex. At the moment, the metaverse is being called the future of internet. It pioneers a virtual realm where people can participate in events, work and socialize as well as play video games.

The metaverse is viewed by many as the next step in a decentralized Internet. Companies like Meta, formerly Facebook (NASDAQ :)), are now stepping up to the plate and launching Web3. However, it is not clear if Meta will become an entirely decentralized virtual world or just another play field for Big Tech.

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