The internet expert who introduced the term Web 2.0, Tim O’Reilly does not seem interested in the idea of Web 3.0 (or Web3).
In his recent appearance on CBS Moneywatch, O’Reilly claimed the metaverse was just a bubble.
The reason is that it is too early to introduce a metaverse product: "Sales of Meta Quest2 (formerly known as‘ Oculus ’) are very high but the technology introduced is very far from the era of its acceptance."
On the subject of non-fungible tokens (NFTs) and cryptocurrencies, O’Reilly believes the industry’s growth is not strong for the long term: “It’s a very critical bubble for small establishments.”
His explanation continued: “There is no guarantee of what will happen after the bubble now explodes because we are in that phase, just like the dot-com bubble. At that time, all types of new businesses received excessive attention while the results were very low. ”
This internet expert also had time to warn about the market that focuses on Web3 because in his opinion it will lose at any time.
After this bubble burst, it was only then that there was hope for the Web3 space to continue to grow with serious establishment and growth.
For the record, the NFT market went crazy throughout 2021. It is said that the record sales of NFT assets reached a value of over $ 25 billion.
The record is much higher than the observation throughout 2020 where at that time total NFT sales were less than $ 100 million.
