Trends are fleeting and millions of buzzwords have come and go, but there are some that are here to stay. Web 3.0 and the metaverse are two popular terms you might have heard recently if you are frequent on the internet. While these two terms are often used interchangeably, even by most tech savvy individuals, they are two different words.
If you are curious about what the metaverse and web3 are, as well as the difference between them, keep reading. First, let’s learn Web3 meaning as well as what the metaverse entails to fully understand how they are different.
Web3 Meaning: What Is Web3?
Web3, also referred to as web 3.0, is the future of the internet, a future where the internet will be completely decentralized. The purpose of this new innovation is that no one will own the internet; web3 will democratize the internet. Web 3.0 aims to put total control of the internet back into the hands of the users. That means if you want to buy Bitcoin with credit card or do anything else online, you are in control of the entire process.
This internet revolution will use decentralized protocols like blockchain technology, addressing some of the major setbacks in the current web. Since it will operate on a decentralized network, it will not require any sort of permission. That means internet providers will no longer have the authority to impose what they want on internet users. Furthermore, they will no longer serve as intermediaries or middlemen between users and what they need.
Metaverse Explained: What Is the Metaverse?
The metaverse is a vendor- and device-independent virtual space created by digital as well as virtually enhanced physical reality. The metaverse has its own independent virtual economy, which is enabled by non-fungible tokens digital currencies. With the metaverse, many industries will become better and more immersive; these include education, retail, and education industries. They will not need to create their own infrastructure because the metaverse will give them the needed framework.
Additionally, the metaverse will make virtual events more immersive, being focused more on 3D graphics and real-world images. Unlike in the current experience where we click through sites’ links, the metaverse will ensure users can walk through sites virtually.
What Major Differences Are There Between Web3 and the Metaverse?
Now, to why we are here; Web3 and Metaverse are distinct in a number of things, including how they are used. For instance, while Web3 is built on blockchain and cryptocurrencies, the metaverse uses AR/VR and digital currency, among other technologies. The biggest difference has to be that people use Web3 to access the metaverse the way people access the road using automobiles. Below are the key differences between web3 and the metaverse that you should know, tech savvy or not.
- Purpose
Web 3.0 is a major advancement of web 2.0; it is a next-generation technology that aims to decentralize and democratize the internet. With web3, you don’t have to be a tech giant to become an owner or shareholder in the internet environment. Meanwhile, the metaverse’s objective is majorly to establish a virtual reality or 3D world for users.
- Uses
The way web3 and the metaverse are used is different, where web3 uses blockchain’s advances. Conversely, the metaverse is a new dimension covering virtual training techniques, education, film, concert, game, health, and entertainment. The metaverse will cover virtual training techniques that utilize web 3.0 tech advances to meet their aims and objectives.
- Portraits
One critical difference between web3 and the Metaverse is the portraits. In the metaverse, you can interact with your friends, like playing a game with one another, and then with objects and places in 3D. Web3, on the other hand, lets users cultivate, own, buy, sell, and even charge their creations.
- Technology
The technology behind web3 includes blockchain, the cryptocurrency market, and decentralized autonomous organization. Meanwhile, the Metaverse is built based on augmented reality, creator economy, Wi-Fi 6g, edge computing, NFTs, 5G, and UI.
- Ownership
The goal of web 3.0 is to ensure no one is claiming monopoly of the internet. This technology will keep out the monopoly of tech giants and make web3 a public-controlled property. Meanwhile, the metaverse is purposed to help tech mammoths control the world, stating that public internet control will make owning the Meta world hard.
On the one hand, Web3 is all about decentralized ownership; it puts the web in users’ and the community’s hands. On the other hand, the metaverse is a shared digital reality; it allows users to connect with one another. Additionally, the metaverse enables users to build economies and interact with no care whatsoever about who owns it.
Conclusion
The metaverse and web3 are the reigning buzzwords in the internet world today. More so, many industries and individuals are reading books and learning how to invest in metaverse. However, also popular is how very often people mistake one for the other, even the tech savvy individual.
If you are going to be a part of these future, innovative technologies, it is only right that you know what they mean. Meanwhile, one similarity Web3 and the metaverse has is that they are both in their early stages. We will see the final products many years from now, and there’s a good chance it will not match what we envisioned.
