Bill Gates: Web3 & The Metaverse Is Not A Big Deal

Bill Gates: Web3 & The Metaverse Is Not A Big Deal. 

Despite the massive growth of Web3 and blockchain technology these last few years, Microsoft co-founder Bill Gates says recently that he doesn’t believe it to be a revolutionary technology.

Bill Gates: Web3 Isn’t Revolutionary

In his recent annual Ask Me Anything session on Reddit, Bill Gates was asked by a user what he thinks the next revolutionary technology shift will be within 5 to 10 years.

“Many years ago, I think around 2000, I heard you say something on TV like, ‘People are vastly overestimating what the internet will be like in 5 years, and vastly underestimating what it will be like in 10 years.’ Is any mammoth technology shift at a similar stage right now?” The user asked.

In response, Gates replies that he thinks AI to be the biggest revolutionary technology coming up in the near future. The Microsoft co-founder then goes on to say that contrary to popular belief, he doesn’t view the current Web3 and Metaverse technologies to be all that amazing.

“AI is the big one. I don’t think Web3 was that big or that metaverse stuff alone was revolutionary but AI is quite revolutionary.”

Gates adds that he thinks new AI like the recent launch of chatbot ChatGPT “gives a glimpse of what is to come.”

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Gates vs Web3

Known to be one of the pioneers of technology and a strong believer of the potential of the internet before it was popular, Gates’ bearishness and uncertainty towards Web3 and blockchain technology has been shocking to many.

Previously, Gates has made a number of comments voicing his bearish views towards cryptocurrencies and NFTs. Last year, Gates made quite the buzz after calling crypto and NFTs as products that are “100% based on greater fool theory.”

Despite this however, the billionaire has shown some level of optimism for the future of the Metaverse. Back in 2021, Gates had made the bold prediction that within 3 years time, most work meetings will move to the metaverse.

“I predict most virtual meetings will move from 2D camera image grids – which I call the ‘Hollywood Squares model,’ although I know that probably dates me – to the metaverse, a 3D space with digital avatars,” Gates said at the time.

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