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ACM Opinion

Web3 Is the Future, or a Scam, or Both

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Attendees at a conference read posted information about Web3 and NFTs

Even if only some of the claims Web3 fans make about it end up panning out, the tech world is headed for a reshuffling, at the very least.

Credit: Jason Redmond/AFP via Getty Images

The fact that Web3 is hard to define is not necessarily a bug. It is a nascent idea floated by a mix of buzz, optimism, confusion, theological battles, and pure unadulterated speculation, which means it is incredibly malleable. You can explain why Web3 is a fundamental remaking of the Internet, and some people will take you very seriously. And you can argue that it is a multi-level marketing scheme built to enrich people who are already rich, and find plenty of people nodding along.

What you cannot do, right now, is ignore Web3 if you work in or around tech. Because it is all anybody has wanted to talk about for the past several months.

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