A Croissant Explains Web3 And NFTs To Elon Musk

With prominent people like Jack Dorsey, Elon Musk, and Jack Dorsey continuing to fuel the fires of debate regarding ownership of Web3, it has only gotten more heated. Web3 has been defended by many in the industry, and they have provided much-needed information about Web3. Twitter has a croissant, which allows users to create informative Twitter threads mostly about Ethereum.

Elon Musk’s stance regarding Web3 was retorted by the croissant this time. Musk had posted a tweet mocking the innovation asking if anyone had seen it, as he joked that he couldn’t it. The CroissantEth replied to Musk with a thread that focused on explaining Web3 or NFTs.

Similar Reading: Dfinity Foundation launches $215 million grant to boost developer ecosystem| Dfinity Foundation Launches $215 Million Grant To Boost Developer Ecosystem

With web3 you can own the net

CroissantEth starts by explainingHis first venture into independent writing. First, explaining why centralized platforms such as Facebook or Twitter were able to eliminate years of labor after closing down their Facebook accounts. The argument for Web3 was then made and the reasons why Web3 is so important to internet users. Web3 allows users to control the space.

CroissantEth uses its website The Bakery as a case study to show how centralized everything is, from subscriptions to payments. All of it without needing access to users’ bank information or having to involve a third-party payments processor such as Western Union.

This explains how you can gain access to the site by purchasing NFTs. You have the option to keep them for your life or pass them along as gifts, and even to sell them in secondary markets. A completely decentralized system that cannot be stopped by a single platform because everything is under the control of the user, stating that “With Web3, I am the platform.”

The read was then closed by asking skepticals to take a look at the text to find out if Web3 or NFTs were more than what they seem to be.

Other Supporters Pile on

Web3 members haven’t been happy about Jack Dorsey and Elon Musk’s comments. Many took offense at Dorsey’s assertion that Web3 was not owned by the users, but to the VCs or LPs who have invested heavily in it.

Jack Dorsey Disses Ethereum, Web3 In Twitter Rampage| Jack Dorsey Disses Ethereum, Web3 In Twitter Rampage

Tyler Winklevoss is one half of the Winklevoss twins and famous for Facebook. Also, he was the first to bitcoin-billionaire. This is the tweet featured a screenshot of a news story that covered the ex-CEO of Twitter having sold his first-ever tweet as an NFT for a whopping $2.9 million, tagging the picture with “Brought to you by Web3.”

It is still a new space and many people need to decide which side of the fence they want with this technology. The future will show if the internet will become a revolution or merely another passing fad.

Featured Image from Pexels. Chart by TradingView.com

Get more Crypto News at CFX Magazine