The internet is constantly evolving, and today’s version is much different from what the internet was in the 1990s. If you’ve spent a few decades or more on this earth, you can probably clearly remember the screeching dial-up sounds of modems from long ago.
While the internet has come a long way, it still has a long way to go. Experts predict that the metaverse and Web 3.0 are the next big things coming. Although many people use the terms interchangeably, metaverse and Web 3.0 are not the same thing. So how are they different, and how are they connected? Read below to find out.
What is Web 3.0?
Web 3.0 focuses on the idea that there’s a significant shift in how we use the internet. Web 1.0 was the internet of yesterday that existed between 1990 and 2004. Back then, the internet was where you went to find information. The number of people who created content was minuscule compared to those who consumed the content.
Then, we have Web 2.0, which is the internet of today. This “phase” of the internet is centered on user-created content. Instead of just hopping on the internet to look up a piece of information, users interact via social media sites like Instagram, Facebook, and Youtube. Interactions include sharing videos, leaving comments, liking photos, and more.
Web 3.0 is the internet of the future. Since we already interact on the internet in a much more “hands-on” way than we did in the 90s and early 2000s, we can expect these interactions to become even more intensive and realistic.
It’s important to note that there is no final definition for Web 3.0, because it is not here yet. But all signs indicate this internet of the future will operate on blockchain technology. In practical terms, this means that instead of spending time on social media platforms and websites that own and monetize the data and content we create, we’ll use search engines and social networks that use blockchain to allow us to control that content and data.
What is the Metaverse?
So, if Web 3.0 is a loose concept about what the internet could look like, what’s the metaverse?
The term metaverse was first coined in the 1992 science fiction novel Snow Crash by author Neal Stephenson. He used the word to describe a 3D virtual world.
While Web 3.0 focuses on the development of the internet of tomorrow, the metaverse focuses on how we’ll experience it. Proponents of these online worlds say we’ll use virtual technology to “enter” the metaverse, and we’ll move between virtual worlds using digital avatars. Each one of these virtual worlds can be described as its own metaverse, and you can already explore some of them online, including Decentraland, Fortnite, and Rec Room.
Whereas most of today’s metaverse platforms are centered around gaming, if the metaverse takes off in the way proponents think it will, it could transform the way we work, socialize, and live. For example, instead of talking to a coworker via Zoom, you might put on a VR headset and meet them in a virtual space.
Web 3.0 and the Metaverse – Differences
To get a better understanding of Web 3.0 and the metaverse, let's look at some of their main differences:
Definition
The metaverse describes a computer domain in virtual reality where you may interact with 3D objects using VR goggles and other devices. On the other hand, Web 3.0 represents the advancement in the internet and our online identities. It's essentially a vision of the internet for the future generation, with the metaverse being a part of that vision.
Technology
Web 3.0 will rely on the latest version of HTTP and the blockchain to map semantic relationships. The "Semantic Web" is about connecting internet data intelligently and making it machine-readable. The metaverse will be built using human-computer interaction methods, VR, 3D design and modeling, and more.
Use Cases
Essentially, Web 3.0 will serve the same purposes as Web 2.0. Users will use Web 3.0 to look up information, connect with others, and create and consume content. The metaverse should open up more use cases, such as 3D virtual collaboration and social VR.
Stakeholders
Like today's internet, Web 3.0 will be built on an entirely open-source codebase. Just as no single entity developed the current internet, it won't be possible to attribute the development of Web 3.0 to one person or company. However, the metaverse will, at least initially, be shaped by the concerted efforts of a few companies. The code base, though, may eventually become open-source once the platform is in place and the tools are democratized.
Connections Between Web 3.0 and Metaverse
While Web 3.0 and the metaverse aren’t the same things, they also aren’t competing entities. So one, both, or neither concept could come into fruition, and we can expect some overlap between the two.
Both Web 3.0 and the metaverse will likely be built on blockchain architecture, enabling an unprecedented level of democratization. Both are expected to be advanced technologies that grow over time, and both will rely on the most up-to-date web technology to develop.
Also, both entities will likely use artificial intelligence to create a more seamless experience. We can expect Web 3.0 to use AI for semantic correlations and the metaverse to use AI for 3D construction.
How Can Investors Benefit from Web 3.0 and the metaverse?
We may not know exactly what the future of Web 3.0 and the metaverse will look like, but we do have an idea of how investors can benefit from these concepts. The best way to get involved is to invest in projects actively developing the metaverse and Web 3.0. Fortunately, SMART VALOR gives investors access to some of the most interesting blockchain projects involved in this megatrend.
A good option is to invest in cryptocurrencies that are used in the metaverse to buy and sell items. Some of these metaverse projects are presented in this article.
Sign up with SMART VALOR today if you want to invest in this future technology. Our digital asset platform is a trusted gateway for crypto investments.