What is Web 3.0 ?
You have probably seen the terms “Web 3.0” and “the metaverse” used interchangeably, but they don’t mean the same thing.
Learn about web 3.0 and the metaverse, how their technologies interact and merge, and how they can power the internet of the future.
A concept for the next iteration of the internet is called Web 3.0. It’s the rise in user ownership and control over their creative outputs, online content, digital assets, and online personas.
And Web 2.0 is currently in existence. Businesses centralise the production of their products and the delivery of their services. Take Instagram, for instance. Do you consider your Instagram content to be yours? No, the business owns everything on the website and has total authority over all user-generated content. They have the option to prohibit or block you.
Another instance of players not having control over their own in-game identities is the popular online game Fortnite. In Web 2.0, users are unable to control or monetize the content they produce.
P2P networking, a decentralized network, can be used to connect online services. With this, users may control their data and engage in permissionless, peer-to-peer transactions, doing away with middlemen and making participation open to anybody with an internet connection and a cryptocurrency wallet like Metamask. Users of various online apps are thus given full control over their digital identities and how and when data is transferred via their private keys.
You may also like to read: How Web3 is Impacting Social Media?
What is Metaverse?
Facebook changed their name to “Meta” in an effort to popularise the Metaverse. Although the Metaverse is not yet a tangible reality, it is planned to be a 3D immersive environment where we will spend a lot of time socialising, working, amusing ourselves, learning, and other activities. It incorporates a number of different technologies, including VR, AR, MR, gaming, bitcoin, and social networking.
The Metaverse, to put it simply, is a new way for people to interact with the internet by making it 3D. Web content is turned into three-dimensional objects so that users can engage with it in three dimensions rather than browsing and interacting with it on 2D screens on computers or mobile phones by clicking and paging through various websites and tabs. Instead of playing games on a 2D webpage, think about playing them online. The website is transformed into a 3D environment where users may move around, interact with one another, and play games using avatars from the games. Users have the option to interact with web content and fully experience a virtual environment. By using virtual reality goggles, users can even experience an environment that is both physically and visually authentic.
You may also like to read: Real-World Examples That Explain Metaverse Development Services
Web 3.0 Vs Metaverse
The next-generation technology, known as Web3, is a considerable improvement over Web2 and aims to create a democratic and decentralised online ecosystem. An individual user can be a shareholder or owner, not only a tech giant. In web3, a user can adhere to established rules without requesting authorization. The Metaverse system aims to give users access to a 3D virtual reality environment.
The technology engine behind Web 3.0 makes use of blockchain developments. The Metaverse is a brand-new dimension that includes Web 3.0-enabled health, gaming, cinema, concert, entertainment, social media platforms, education, and virtual training methods.
The Metaverse contains a wide range of important technologies that support the operation of the entire ecosystem. Connectivity, interfaces, decentralisation, a creative economy, and cutting-edge technology are necessary for the metaverse. Web 3.0 aims to create a decentralised web that only uses blockchain technology. Blockchain, which is regulated by a world of decentralised peer-to-peer networks, allows users to connect to internet services.
Metaverse and Web3 portraits
You can interact with three-dimensional friends, objects, and locations in the three-dimensional metaverse. For instance, you may start having fun with your friends on the creator’s property. Users of Web3 can create, own, sell, and buy material, and they can even charge for their creations.
Perception of various approaches
The Metaverse is concerned with how people will interact with it, whereas Web 3.0 is worried about who will rule and regulate the internet in the future (tech behemoths or individuals). A substantial percentage of the populace is rapidly accessing websites and apps on computers, cellphones, and tablets. Metaverse proponents predict that in the future, individuals will access the internet through Virtual Reality (VR) technology and move between virtual worlds using digital avatars. Data is owned, open, widely dispersed, and jointly owned by peer-to-peer networks while using the blockchain system for both of them sequentially. However, this is different in the case where one may find to do business using VR, and another allows contributors to own their data.
A list of the core technologies underlying the web3 process should include blockchain, decentralised autonomous organisations, and cryptocurrency. The crypto body was created as the first decentralised step toward web3 technology in history. On the other hand, the Metaverse is based on 6G, VR, and AR (at the budding stage).
Web3 aims to make the internet public property and keep it out of the hands of tech oligopolies. One of the more successful examples is the bitcoin market in the cryptosphere. However, in order to control this environment, tech giants are already restructuring or making purchases of metaverse businesses. On the other hand, experts were certain that public internet regulation would make it challenging for businesses to control the meta world.
The Metaverse and Web 3.0 are not the same, but they also do not contradict each other’s conceptions of the internet of the future.
Digital artist can design their own avatar and attire thanks to specific capabilities. This can also assist folks in protecting their identities while they explore this amazing virtual world. You may make money by, for instance, selling an avatar that is wearing a costume. The ownership of the sold outfit then passes to the buyer; if replicated, the user will be banned..
The way we work, socialise, and communicate online has a lot of potential to alter as a result of the metaverse.
According to an Intel research, computers will need to be 1,000 times more efficient to support the metaverse, thus there is a tonne of space for advancement in the development of a cosy, reasonably priced VR headgear.
Future Web 3.0 usage may potentially shift away from VR headsets and toward desktops and mobile devices.
What organisational structure would the metaverse adopt if it becomes corporeal? It can operate in a centralised, decentralised, or mixed fashion.
Facebook, a centralised company that Web 3.0 wants to destroy, actually changed its name to “Meta” to signal that it plans to create and profit from the metaverse. Then there are the user-created and -owned metaverses like Decentraland.
Digital artists who see the new internet experience as an opportunity to finally make a profit, or major businesses like Nike and Gucci, who see the metaverse as just another revenue stream, may be the ones who create the assets for sale in the metaverse.
International businesses like Nike and Gucci came up with inventive ways to generate revenue from the metaverse. This is a brand-new online experience and a means of income for all digital artists.
Despite the fact that Web 3.0 helped to pave the way for NFTs, DAOs, and P2E games, which have recently experienced tremendous growth. The full integration of Web 3.0 and Metaverse, which would provide the most immersive experience, is still a long way off.
A new open and decentralized global reality that manifests in virtuality is being created through Web 3.0 and Metaverse.
Use Web 3.0 and the Metaverse to explore the brand-new, decentralised space.