Web 3 vs. The Metaverse

With Meta’s widescale press coverage, it’s easy to conflate it with the concept of the metaverse. One thing’s for sure — the digital future will be the work of many entities.

The Metaverse
The metaverse is where we will eventually spend most of our time to work, learn, play, entertain, etc. One may imagine the metaverse to be an immersive digital world that is ‘synchronous, persistent and unlimited in concurrent users’.

Limitless Possibilities
The metaverse feels ambiguous and speculative because it is; is more of a vision than reality at present. In order for it to take form, it will need everyone’s contribution and participation; it requires a convergence of action and technological developments with no definitive limits.

Web 3.0
Web 3 provides clear improvements to specific drawbacks of the Web 2 internet. It directly addresses issues of ownership and control, and can revolutionize how we can manage data, regulation and transactions.

Big Tech has a Part to Play
Once we see that Web 3 is only one building block for the metaverse, it opens up possibilities for various other contributors.

Despite the apprehension surrounding Big Tech’s hand in the metaverse, their research and developments in technologies do not undermine the work of Web 3 and decentralization.

A Hybrid Future
Web 3 will not necessarily make Web 2 obsolete. Despite Web 2’s shortcomings, there are still many products that operate more effectively outside of the blockchain. While these hybrid products may not align perfectly to the ideology of decentralization, they will ultimately aid the larger adoption of Web 3 features by appealing to the masses.

Source:
Zhang, A. (2021). Web 3 and the Metaverse Are Not the Same. CoinDesk.

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