What is the metaverse and web3
The metaverse and web3 are two terms that are frequent in conversations around blockchain and the future of the internet. Their definitions, however, have been shrouded in ambiguity leaving newcomers in the decentralized world in the dark about their meaning and differences. This post goes out to answer the question of what is the metaverse and web3 with a bonus on what sets the two apart.
What is the metaverse in simple terms?
The metaverse is a three-dimensional (3D) virtual world or universe that unites the physical and virtual worlds. Linking the two worlds involves technologies like augmented reality (AR), mixed reality (MR), and virtual reality (VR). Tech companies like Meta and Apple have released AR/VR/MR devices like the Meta Quest 3S and Vision Pro respectively.
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The metaverse can also be defined as a digital world whose inhabitants are represented by avatars that have a digital identity. As of 2024, the metaverse is still in its infancy and has no concrete definition.
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To bring together the physical and the virtual to create an interactive 3D world, the metaverse requires a connectivity layer at its base that comprises the 5G/WiFi internet and the cloud to cater to computational needs.
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Next to it is a layer that eases how humans interact with the digital and physical worlds. This is where the AR/VR/MR devices come in. Other metaverse components like decentralization/blockchain, spatial computing, and creators all work together to provide a near-realistic 3D world.
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The development of the metaverse uses technologies such as artificial intelligence (AI), AR/VR/MR, 3D modelling, and the Internet of Things (IoT). Other things associated with the metaverse are non-fungible tokens (NFTs) which can represent almost anything in the virtual world. An NFT can, for example, represent a ticket to an event, a pair of shoes, or even a piece of land.
What can you do in the metaverse?
The metaverse is meant to provide virtual experiences that resemble or surpass those offered by the physical world. Some of the things you can do in the metaverse include hosting or attending virtual events, gaming, socializing, shopping, buying and developing land, etc
What is Web3?
Simply put, web3 is the evolution of the World Wide Web (WWW) from its predecessor Web2. To better understand what�s web3, let�s look at the last two web versions.
Web1 or Web 1.0
This is the first version of the Web invented in 1989 by Tim Berners-Lee, a computer scientist. It revolved mainly around sharing educational materials. This version brought with it the programming language known as HTML or Hyper Text Markup Language to ease the communication between internet browsers.
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Note that at this time, the internet was already available and Berners-Lee provide a �web� that used the internet. Web1 lasted for 14 years, between 1989 and 2003.
Web2 or Web 2.0
Web2 is characterized by the ability to read and write data on to the web instead of just sharing data like in the earlier version. It also brought interactive content like videos, images, and forms. Compared to web1, web2 is also associated with higher internet speeds.
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However, web1 and web2 are extremely centralized with only a handful of companies like Meta, Google, and Amazon controlling the lion's share.
Web3 or Web 3.0
Web3 moves the web from being centralized to decentralized. As such, web3 can be defined as the decentralized web. With decentralization, all entities in the �web� own their content/assets meaning that no one organization or government can control or shut it down.
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Web3�s need for decentralization naturally aligns with blockchain which has no one single point of failure. Therefore, web3 is powered by blockchain and includes anything from cryptocurrency, NFTs, decentralized finance (DeFi), decentralized storage, decentralized applications (DApps), decentralized autonomous organizations (DAOs), etc.
What is the difference between the metaverse and web3?
The major difference between the metaverse and web3 majorly lies in the decentralization aspects and the use of blockchain technology. While web3 needs to be decentralized and use blockchain technology to set itself apart from web2, that doesn�t always apply for the metaverse.
It�s not a must for the metaverse to be solely decentralized meaning that it can also be powered by web2. The metaverse and web3, however, aren�t mutually exclusive meaning that they have overlapping points and one can be used to enhance the other, with web3 better placed to enhance metaverse experiences.
Final words
From our above discussion, the metaverse and web3 are two different, but co-joined, terms. In a nutshell, the metaverse is a 3D world that interfaces the virtual and the physical realms using technologies like IoT, artificial intelligence, 3D modelling, and AR/VR/MR, among others. Web3 is the third version of the Web and it prioritizes decentralization over centralization.