Former Google President and CEO Eric Schmidt spoke on CNBC about the “seductiveness” of the Web 3.0 concept and talked about his investments in cryptocurrencies.

In December, the billionaire became a strategic advisor to Chainlink Labs, a year after leaving Google’s parent company Alphabet.

“economy [Web3] interesting. Platforms, use cases. [Это] not working yet, but things will change”said.

Schmidt defined concepts such as content ownership and compensation to people.

The billionaire did not specify which cryptocurrencies he owns. Schmidt noted that if he were currently at the beginning of his career as a software engineer, he would have focused on artificial intelligence algorithms or Web3.

Recall that Christine Moy, former head of the metaverse division at JPMorgan, joined Apollo Global Management. It will invest in Web3 startups.

Previously, Pantera Capital raised $1.3 billion in a blockchain fund focused on Web 3.0.

Prior to that, Haun Ventures established two Web 3.0-focused structures with $1.5 billion in assets. The firm is affiliated with former Andreessen Horowitz general partner Cathy Haun.