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　　according to reports, many people believe that Web3 will be the next generation of the Internet, but Snap is not very interested, at least Web3 is not its priority.

　　This week, Snap announced 20% layoffs, and investment in some projects has shrunk significantly. Snap CEO Evan Spiegel listed three strategic priorities, namely community growth, revenue growth, AR, and some The investment project does not match its vision.

　　Jake Sheinman is the R&D manager at Snap, where he focuses on web3. Scheinman tweeted Wednesday that Web3 was not contributing to the company's goals and that the Web3 team was laid off because of the reorganization. A Snap spokesperson responded that while AR remains the company's focus, early exploration in the Web3 space does not directly contribute to Snap's priorities and AR investments, adding that only a few people are involved in the web3 project.

　　Snap's move appears to be in stark contrast to Meta, which has said it is shifting its business to new focuses, such as web3 development and the metaverse. YouTube also looked for a new director for web3 earlier this year.

　　The layoffs also affect a number of other Snap projects, such as in-house produced Snap Originals skits, in-program game projects, and camera drone Pixy.