Web3 should draw newcomers, not be a ‘money grab from brands’ — Tech CEO
Using Web3 and NFTs to create another slate of millionaires isn’t a good use of the technology, says EndeavourXR CEO Amy Peck. The crypto industry should focus on building blockchain-based solutions everybody can benefit from instead of launching cash grabs for brands , says Amy Peck, CEO of tech-focused consulting firm EndeavourXR. Peck told Cointelegraph at the Lisbon Web Summit that Web3 firms should be build-first oriented and create attractive products to draw newcomers . She added using Web3 and nonfungible tokens (NFTs) as “just another money grab from brands ” to create another slate of multi-millionaires “doesn’t seem like a good look” nor a good use of what is an “elegant technology.” “This is an infinite landscape. The money’s going to be there, right? Let’s build a better bread box. We have the opportunity to do something really interesting and reinvent this economic construct, invite more people to the party, not just create another 1%.” Obtaining an on-chain proof of id...