Web 3 and Crypto or NFTs

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John Thornhill: Most musicians today make very little money on the internet. NFTs let them give their fan base new kinds of interesting experiences, but more importantly, they can make money directly from their fans without 99% of the money going to Spotify and other centralized intermediaries. While Chris Dixon is slamming Facebook and Instagram, it's worth remembering that his business partner, Mark Andreessen, is still on the board of Meta,. And the idea that the firm is getting involved in web 3 so as to help content creators get their dues rather than to make money from it strikes me as completely disingenuous.

In the second episode of the latest season of Tech Tonic, FT columnist and host Jemima Kelly tries to understand why an influential Silicon Valley investment firm thinks that Web 3 is a good bet. Will blockchain technology really be the foundation of a new internet era? Is Web 3’s promise to decentralise the internet going to pose a challenge to companies such as Facebook and Twitter? The FT’s innovation editor John Thornhill interviews Chris Dixon, head of Andreessen Horowitz’s crypto fund, and Jemima talks to Molly White, author of the Web3 Is Going Just Great blog.

Presented by Jemima Kelly. Special thanks to John Thornhill. Edwin Lane is senior producer. Produced by Josh Gabert-Doyon. Executive producer is Manuela Saragosa. Sound design by Breen Turner, with original music from Metaphor Music. The FT’s head of audio is Cheryl Brumley.

News clips credits: CBC, NBC, CNN.

Read a transcript of this episode on FT.com

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