‘Web3’ is the third generation of the internet and like virtual reality it is easy to confuse with the term ‘Metaverse’. It is important to note that whilst the ‘Metaverse’ and ‘Web3’ are connected they are noticeably different.
‘Web3’ according to Forbes’ Mark Minevich is “built on the philosophy that the internet should be a decentralised network of computers” as opposed to a centralised system. The logic behind this is there would be no single point of failure and no controlling authority gatekeeping information. To put it bluntly the goal of ‘Web3’ is to take the power of control out of corporations and make the internet essentially public property. This is opposed to the highly centralised ‘Web2’ that is commonly used today with a handful of ‘tech behemoths’ controlling the mainstream flow of information.
On the other hand, the ‘Metaverse’ is a virtual based environment where users can interact with one another. Essentially it is an extension of the internet where the focal point is the authenticity of an immersive and interactive collaboration with users from all across the world.
The connection that exits between these two technologies is that they complement one another extremely well. Given that the ‘Metaverse’ is comprised of several separate interconnected worlds, it fits hand in hand with the decentralisation that ‘Web3’ is based upon and provides a genuine application.
For more information on the ‘Metaverse’, consider reading our article “The Meaning Of The Metaverse Is Not 42”.
