Google is venturing into the untamed territory of non-fungible tokens, cryptocurrency and Web3.
At a yearly earnings call, Google CEO Sundar Pichai was about Google’s vision for Web3. “Any time there is innovation, I find it exciting. I think it’s something we (Google) want to support the best we can.”
The term Web3 was first used by Gavin Wood, co-founder of Ethereum. In recent years, it’s taken on a life of its own. When discussing Web3, we’re discussing a vision of what the Internet should look like in the future. The exact meaning varies, but blockchains and the earning of ‘digital assets’ — cryptocurrency and non-fungible tokens — are central.
Meta on Web3
According to the most passionate proponents of Web3, the concept will replace or change the platforms of big players like Google, Meta and Microsoft.
Meta is taking a serious stance. In late 2021, Andrew Bosworth (CTO of Meta) stated that blockchains “will have profound impacts on our industry over the next decade. If we see an opportunity to work jointly with entrepreneurs in the Web3 space, I expect it to be worth the effort.”
Google, unlike Meta, remained silent for a long time. That changed during a recent earnings call. “We are definitely looking at blockchain”, stated CEO Sundar Pichai. “It’s such an interesting and powerful technology with broad applications.”
Web3 is on big tech’s radar. There’s a good chance that blockchains — and even NFTs — will make an appearance in the services of the world’s biggest technology companies.