Pharrell Williams calls Web 3.0 the ‘key to the revolution’ in the financial system

Blockchain and decentralised technologies Web 3.0 will be the key to a revolution that will shake the music industry, the financial system and governments around the world, the musician and producer Pharrell Williams said at the NFT conference VeeCon, пишет Decrypt.

He said he started exploring the NFT concept a couple of years ago.

“I was late to this because I spent more time thinking about the technology than doing anything. Thoughts are wonderful, but they don’t mean anything without execution,” Williams explained.

Williams is primarily drawn to the creative potential of NFT and Web 3.0 technologies, including the prospect of removing intermediaries between labels and distribution platforms, as well as new formats of interaction between artists and their fans.

Williams said that the rapid growth of the NFT market naturally attracts various scammers who seek to make quick money without a long-term vision. However, for artists, NFTs bring many advantages, for example royalties on secondary sales of tokens.

Williams is currently working on several Web 3.0 initiatives, including Gallery of Digital Assets, which helps traditional art transition to the digital world.

Another project is the non-profit Black Ambition program aimed at supporting startups led by Black and Latino entrepreneurs with up to $1 million in funding.

Williams believes that the possibilities of blockchain and Web 3.0 extend beyond the entertainment industry. It is decentralised communities, he says, who will be able to achieve significant changes in the world by countering governments that seek to restrict or deprive people of rights.

The musician called the current downturn in crypto prices temporary, as they differ fundamentally from what Wall Street was built on.

“Blockchain and Web 3.0 scare the system, so it responds by creating laws to control the concept. Those who promote these technologies are the most powerful people on the planet,” Williams summed up.

Earlier in April, rapper Snoop Dogg announced the creation of ферм цифровой конопли in the form of NFT.

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