Market

Elon Musk mocks NFT and Web3 with “urine etiquette” meme

Tesla CEO Elon Musk recently made fun of “Web 3.0” supporters on Twitter with a new meme.

The dollar billionaire shared a meme version of the popular comedy comic “Urinating Ritual,” in which a man enters the men’s room and walks past a pile of empty tubs to announce crypto, Web3, and Decentralized Autonomous Organizations (DAO) for a. to favor strangers right next to him.

https://twitter.com/elonmusk/status/1466942645545099272?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener

The term “web3” has become a new buzzword that crypto influencers and venture capitalists have been using in recent months.

Although the exact definition of the term is ambiguous, “Web 3.0” is billed as an internet utopia in which people use blockchain and other advanced technologies to regain ownership of their data.

There are also many people who just view this new iteration of the internet as a waste of money. Cornell University professor James Grimmelmann recently referred to Web 3.0 as “vaporware”.

Elon Musk tweeted earlier this week that the term Web3 sounds like “BS”. He also mocked NFT in response to a tweet from Dogecoin co-founder Billy Markus about the rise in scams in the industry.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.