Elon Musk is known for his technological advancements. So, it’s quite a surprise to learn he has no interest in Web3 and the NFT market. However, this shouldn’t discourage you as it proves several things.
Above all else, it proves that you are remarkably early to the space. Many people doubted the internet in the same way, and web 2.0 (also known as participative and social web) changed how the world operates. Web 2.0 shaped the way we interact with each other daily.
Furthermore, it has even helped to topple regimes and elect presidents. The natural evolution of the internet is web3, and if Elon Musk doesn’t adapt, it could cost him billions.
Elon Musk, the CEO of Tesla, shared a meme on Twitter, posting a three-panel version of the well-known ‘urinal etiquette image.’ The meme shows a guy entering a men’s bathroom and choosing to skip empty urinals and stand next to another man creating an uncomfortable and unusual situation.
The text above reads, “Hey man…you should join our DAO in the panel.“
Elon Musk is not a fan of Web3
He then suggested that ‘there is too much noise about web3 in the crypto market’. In a not so polite tweet, he said, “Web3 sounds like bs”, responding to a thread by OpenAI co-founder Sam Altman.
In addition to this, he aimed his sights on NFTs. Elon was quick to react to a tweet by Dogecoin co-founder Billy Markus as he discussed the number of scams in the industry. Musk commented, “NFTs are jpeging the dollar.”
What is a DAO?
DAO is a popular web3 term, meaning Decentralized Autonomous Organization. The idea of a DAO is frightening to people in powerful positions because the overriding concept of a DAO is democracy. In comparison to traditional companies, DAOs have a democratized organization. Members vote for any changes to be implemented instead of implemented changes by one person. There is also an element of crowdfunding and governance that is community-based.
Elon Musk is the richest man in the world with over $261 billion. You certainly don’t become one of the wealthiest people to ever live by handing over power to others. Web3 can change the way the world works, just as web2.0 has.
Finally, Elon Musk is a huge supporter of cryptocurrency, mainly the popular meme token, Dogecoin. Elon has said that he loves the idea of a joke currency becoming valuable. In an interview with TMZ, he stated, “Fate loves irony. What would be the most ironic outcome? The currency that started as a joke becomes the real currency. To the moon!”
It is unlikely that Dogecoin will go to the moon. However, there is a considerable possibility that Web3 changes the world in ways we cannot even imagine.