Alexis Ohanian and Serena Williams
Source: Getty

Alexis Ohanian: Web 3.0 Feels Like Building Reddit but 1,000x Better

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Nov. 4 2021, Published 8:26 a.m. ET

Alexis Ohanian, the founder of web content rating and discussion platform Reddit, appeared at NFT.NYC and talked to Jodee Rich about how "Web 3.0 feels like building Reddit— only 1000x better."

Here's what the tech-savvy, video-game-loving millionaire had to say about the future of Web 3.0 and why "bottom-up" building is essential to it.

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There is no denying Ohanian's humble nature and vibrant spirit. He's the proud husband of the greatest tennis player of all time—Serena Williams. More than his devotion towards his wife and family, Ohanian has made waves in the blockchain and NFT space. At the Met Gala, he wore Crypto Punk #2950—a gift for Williams that Ohanian believes looks like her—as a pin, which grabbed the attention of American fashion designer and entrepreneur Virgil Abloh.

For Ohanian, this was a confirmation of what his CryptoPunk and NFTs "imbue."

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Source: Alexis Ohanian Twitter

Web 3.0 is a "wild approach to bottom-up building," says Reddit founder.

Unlike Web 2.0, where the platforms are built top-down, the inverse occurs in Web 3.0 currently. The decentralization of Web 3.0 more than eliminates the need for an intermediary but also allows for the earliest adopters and "believers to now have a stake in something," according to Ohanian.

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The Reddit founder firmly believes that one of the biggest drivers to the success of many projects is the communities that back them. Contrary to media mogul Gary Vee, who's cautious about putting all of his eggs in the "community" basket, Ohanian has seen the communities that rallied around Reddit and hopes that "the best things of Reddit (community) find themselves in Web3."

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Alexis Ohanian found success being "long-term greedy versus short-term greedy."

One of the biggest criticisms towards the more recent developments in Web 3.0 is the use-cases of NFTs. More than NFTs uses cases, the concept of ownership still falls flat to many since they support the notion that "right-click and save" is the same as ownership, when in fact, it's simply storage.

To this point, Ohanian shows compassion and comments, "I love the 'right-click and save' community," who often argue about the parameters of ownership without understanding that value doesn't get lost in replication but rather the NFT holds its value in authenticity and verifiability.

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For example, printing T-shirts of the Mona Lisa won't decrease the value of the "Mona Lisa." Similarly, storing a file of a collector's NFT won't lower its value, but infringing on intellectual property rights might trigger legal action.

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Source: NFT.NYC
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"The essence of value will live somewhere decentralized," said the founder of SevenSevenSix, as he explained the value of our digital identities and our ties to them.

As Ohanian elaborated, Web 3.0 will "upstart creators to have more leverage than they have ever had in history. We will start to see a rise of a new artist in Web 3.0."

Understanding that the element of decentralization provides borderless entry to those who are often disenfranchised like "women, especially women of color." Ohanian believes that "the more people we can bring on, the more long-term value it will bring." Web 3.0 enables people "to not be judged by what they would be judged for, outside of the internet, and allows them to thrive on what they are passionate about within it."

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