Web3 is Scaring the System, Says Pharrell Williams!

Pharrell Williams believes a revolution is on the way that will upend the music business, financial system, and government. He believes that decentralized Web3 technologies and the NFT token market will be critical. An NFT serves as evidence of ownership for an object, and they are frequently used for digital products including artwork, profile photographs, collectibles, and even music recordings. Artists such as Snoop Dogg, The Chainsmokers, 3LAU, and Nas have been vocal supporters of using NFTs to distribute music. Williams feels the stakes in the Web3 sector are higher than simply upending technology and entertainment.

He believes that decentralized communities and innovators will have a huge impact on the globe. Black Ambition, a nonprofit organization that helps Black and Latinx entrepreneurs launch businesses, is one such project. Williams discussed the potential for decentralized technology to disrupt present institutions and establish more equal models for everyone at VeeCon. He mentioned the current market dip, which sent crypto and NFT values down, but said it was simply a temporary fall because the core technology is gaining traction.