The two terms might seem the same and are often used interchangeably, being called the “internet of the future”, however they are different, even if interconnected.
Web 3 or Web 3.0
Web 3.0 is the World Wide Web based on blockchain technology that enables users to control, own and monetize their creations. This decentralized internet is built on distributed technologies and DAOs (decentralized autonomous organization) that aim at creating a more democratized internet.
It allows the trading, buying and selling of NFTs through blockchain technology and represents the true path to an open and decentralized metaverse.
Before going deeply into the concept of Web 3.0, we need to understand what are Web 1.0 and Web 2.0
- Web 1.0 was the version of the internet that existed between approximately 1991 and 2004 and consisted of static pages, in which you could get information.
- Web 2.0 defined the version of the internet that followed this first phase: one platform dominated by user-created content. In this period we all started to interact through social media posts on Facebook and Instagram, create and share videos on YouTube, and leave comments.
- Then Web 3.0 came into place, and its focus is mainly about who will own and control tomorrow’s internet, whereas the metaverse centers on how users will experience this internet of the future.
In Web 3.0, the access to the service is open to everyone: users have complete control over their private data, but at the same time, they have to take the responsibility to protect their own data and assets as they will become the only custodians. It is the next evolution of the internet: users are able to evolve their interpretation of digital assets, online content and identities.
Metaverse
As explained in our previous articles, the metaverse is a future where the digital and real world melt together and become more interconnected. The common denominators of the metaverse are its immersive nature and potential for interoperability.
The basic building blocks of the metaverse integration can be found in VR, AR and MR: VR and AR in particular require a piece of hardware in the form of glasses or a headset to alter or take over their reality.
Web 3.0 and the metaverse cross over in some very important ways, with cryptocurrencies as foundations and NFTs as key elements.
This will lead the path towards a more decentralized internet and more individual liberty.
We don’t know yet whether only one of them, both or none will make it through the end of the year, but we know that at the moment they represent a huge opportunity for every brand and retailer.
As Invrsion has gained knowledge about the VR world and has been building the structures of the metaverse for Retail since 2015, we strongly believe that our know-how can best support your business to enter in this journey towards the metaverse revolution.
Contact us to bring your brand in the metaverse!