Brave chief: NFTs show signs of scam, as the internet did in its early days

Brave CEO warns NFT culture mirrors the early internet.

The NFT space is rife with foolishness and fraud, as was the internet in its early days before its major transformations. Brave CEO Brendan Eich said this in an interview with TechRadar.

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“We are at the early stages of Web 3.0, and no one knows what that means. Especially in the case of NFT. … In the early days Web 1.0 and Web 2.0 there were also many unserious sites and scams. It happens in frontier towns until you pave the streets and install streetlights,” he said.

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The head of the company noted tribalism in the crypto community and emphasised Brave’s desire to distance itself from such a concept of group segregation. According to Eich, this could pose problems for the industry:

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“When you talk about crypto culture, there is no single community. There are those who are more enthusiastic about their project and regard it as the only right path. … I think this could go too far.”

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Earlier, expressed concern about copyright infringements in the sector.

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Earlier, Chainalysis reported significant volumes of wash trading on the NFT market and inflows of illicit assets for money laundering.

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