Web3 and Metaverse are key buzzwords closely linked when discussing the next phase of the Internet. Web3 and the metaverse were born out of the problems of a centralized internet. Though similar in some ways, they solve different problems. Through the hype of blockchain technology and Meta’s creation of their Metaverse, more people have been curious about these two concepts.
Web 3.0 is the upcoming third generation of the internet where websites and apps will be able to process information in a smart human-like way through technologies like machine learning (ML), Big Data, decentralized ledger technology (DLT), etc.
The Metaverse is an embodied internet that enables people around the world to meet by creating an avatar that can be personalized and make them feel more non-fictional than a normal video call. The way the Metaverse can be categorized is through how it planned to be used. Large corporations are planning on building the metaverse, and as a result, the most likely outcome is that they will hold all the power and control.
- They are built on similar technology; they both use AI (Artificial Intelligence) for advanced user interface and also semantic web
- They are both in the early stages
- They both evolve with changes in blockchain technology
They both differ in quite a few ways too and the items listed below provide a clear reasoning as to how both have evolved and continue to evolve differently.
| Metaverse | Web 3.0 |
| Definition: A digital environment that combines digitally enhanced physically persistent virtual environments | Definition: A new internet iteration aims to establish a decentralized online network in which users own and control the material and assets they create |
| The Application Scope: It is still under development, and the potential areas are still under scrutiny | The Application Scope: Throughout the web, it is applicable |
| Target: VR, AR, XR (Extended Reality) world facility | Target: Blockchain controlled, peer-to-peer network facility |
| Application: Virtual Gaming, Health Surgery, 3d training, social events | Application: Democratic system, permission-less network like Crypto world (system run without market monopoly) |
| Depiction: Dematerialization of physical entity around us to digital space | Depiction: Individual owned and regulating internet |
| Underlying Technologies: Connectivity technology, human interface, decentralization technology | Underlying Technologies: Blockchain & cryptocurrency, NTFs, DAOs, DeFi |
| Technical: Powered by wifi6, 6G, Spatial computing (VR, XR, Geo mapping, creator economy, asset market, mint NFT) | Technical: Powered by Decentralized Autonomous Organization, AI, Blockchain |
Sources:
- https://www.blockchain-council.org/metaverse/web-3-0-vs-metaverse/
- https://medium.com/@precioustola00/web3-vs-metaverse-17e2fc254e7f
