Chapter
The Future of Web 3.0 and Its Revolutionary Concept
27:58 - 37:06 (09:07)
The concept of automatic market makers and smart contracts in the world of Web 3.0 eliminates the necessity of middlemen and third party control, as users own their data and contributors the platform, resulting in a revolutionary new paradigm.
Clips
Smart contracts can automate certain aspects of the traditional art industry, like payments for resales, and remove the need for intermediaries taking a cut.
27:58 - 31:16 (03:17)
Summary
Smart contracts can automate certain aspects of the traditional art industry, like payments for resales, and remove the need for intermediaries taking a cut. The use of smart contracts can also lead to a more decentralized art platform with no need for traditional management.
ChapterThe Future of Web 3.0 and Its Revolutionary Concept
Episode#542: Chris Dixon and Naval Ravikant — The Wonders of Web3, How to Pick the Right Hill to Climb, Finding the Right Amount of Crypto Regulation, Friends with Benefits, and the Untapped Potential of NFTs
PodcastThe Tim Ferriss Show
Web3 is a revolutionary concept where applications have open code, contributors own the platform and users own their data, making the ecosystem unique and distinct.
31:17 - 37:06 (05:49)
Summary
Web3 is a revolutionary concept where applications have open code, contributors own the platform and users own their data, making the ecosystem unique and distinct. The ability for applications to plug into each other like Lego blocks makes it unexpected and nonlinear.