Snap Inc. is sunsetting efforts focused on building products for the much-vaunted next generation of the internet known as web3, according to a former research and development manager at the social media platform.
According to a tweet posted on Wednesday by a Twitter account linked to Jake Sheinman, a research and development manager for web3 at Snap, web3 was not seen as contributing to those goals. A Snap spokesperson said that while augmented reality is a continued focus for the company, “early explorations in the web3 space represent a project that doesn’t directly contribute to our priority and continued investment in AR,” adding that only a few people were involved with the web3 effort.
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