Dogecoin co-creator says Web3 is a solution to a non-existent problem

June 6, 2022

Dogecoin c-founder Jackson Palmer thinks Web3 has no real value to add and it is a solution to a non-existent problem.

In an interview with the Sunday Herald Morning, Palmer criticized Web3, NFTs and the crypto industry in general.

“I think Web3 is a hammer in search of a nail, and it doesn’t provide much value back to society in any meaningful way,” Palmer commented. 

Dogecoin creator, who left the industry in 2016, has been vocally critical of the crypto industry. 

Palmer thinks that the crypto space goes through phases where certain narratives are pushed. Currently, NFTs are being hyped to lure in “new suckers.”

Jackson opined that up-and-coming decentralized protocols do not necessarily require blockchain technology or crypto assets to thrive.

Known for being a vocal crypto cynic, Palmer still claims to be a huge proponent of decentralization.