- Alexis Ohanian explains the growth of Web3 and NFT.
- Ohanian supports NFT initiatives such as Moonbirds, Doodles, and Yuga Labs.
- An NFT company, Doodles, is leading the way in Web3-based virtual property and ownership.
Reddit co-founder Alexis Ohanian, a businessman and investor, is one of many who back the advancement of Web3 and non-fungible coins. Ohanian discussed his favorite projects in depth in an interview with CNBC, as well as the potential problems that Web3 could be able to address.
Ohanian supports the NFT initiatives of Yuga Labs, the organization that is the parent company of the Bored Ape Yacht Club, Moonbirds, and Doodles. Ohanian mentioned Yuga Labs as one of the firms trying to fix the problems with Web3 and create a game.
In the interview, Ohanian stated that “people will need the picks and shelves to accomplish it” as long as they continue to build on cryptocurrency, spin up nodes, and search for solutions to issues.
Ohanian claimed that Yuga Labs would not have been able to hire Daniel Alegre from Activision Blizzard Inc (ATVI) if there had not been a market for Web3 gaming, diverting him away from well-known games such as World of Warcraft. The fusion of creativity, community, and culture could usher in a new era of gaming and culture.
There are several Yuga Labs projects, including Moonbirds and Doodles, which are among the top NFT collections on Ethereum (ETH).
Investing in NFTs today is comparable to making a one time investment in The Walt Disney Company (DIS), which included both the company and its fictional characters. Ohanian pointed out that people could locate auctions of vintage Mickey Mouse drawings from the previous year but needed help to invest in or buy the characters that media companies owned.
Ohanian boasted a proud history of being an early investor in the cryptocurrency field, with over a decade of investments, when it was announced that his company Seven Seven Six was investing in Doodles.