by Toni Becker - Website Content Writer at Digital Nexa
Jul 22, 2022
The digital age is evolving everyday and today’s latest evolution lies in Web 3.0 and the Metaverse. You have probably seen these terms trending across your social media pages, but these are not just trending topics and it’s important businesses recognize this evolution and build their brands in this space.
Let’s take a look at this latest evolution of the internet and unpack the difference between Web 3.0 and the Metaverse.
What is Web 3.0?
From 1991 - 2004, the world was connecting to information through Web 1.0 and this space soon evolved to become Web 2.0, an internet that is dominated by user generating content and social media communication. We have all become accustomed to the Web 2.0 space and it has become an intricate part of our lives. However, this is all changing as Web 3.0 is beginning to better the landscape we have all come to know - and not necessarily love. Web 2.0 is dominated by big corporations such as Google and Meta, and these organizations are using our personal data to better their money-making agenda. Web 3.0 has been designed to correct this through Blockchain Technology.
But what exactly is Blockchain Technology?
The co-founder of Ethereum, Vitalik Buterin describes how Blockchain Technology is set to decentralize the online space:
“Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away from the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly.”
Blockchain Technology guarantees the security of data and builds trust without the need of a third-party. Essentially, this system allows us to control the data we create online and takes it out of the hands of the large organizations that currently run the space.
Tim Sweeney of Epic Games said it best:
“We need to win the fight against platform monopolies, because Apple and Google currently have rules in place to prevent the metaverse from existing on the Google Play Store and on iOS. They have rules that prevent web browsers from existing — you’re only allowed to use their web browser.”
Non-Fungible-Tokens (NFTs) and Cryptocurrency are the first mainstream elements of the Web 3.0 space and the decentralization of the internet. For example, NFTs help artists and content creators monetize their works and digital content as their own.
Now that we have a greater understanding of the concept of Web 3.0, let’s take a closer look at the Metaverse.
What is the Metaverse?
Web 3.0 relates to who will control and own the internet whereas the Metaverse focuses on how users will experience the digital space. Today, we browse the World Wide Web by navigating websites via our screens; however, the Metaverse is quickly changing this experience. This is because users are able to enter the internet through Virtual Reality and create personal avatars within this space.
Jensen Huang, the CEO of Nvidia said:
“The metaverse is coming. Metaverse is not only a place to game. Future worlds will be photorealistic, obey the laws of physics and be inhabited by human avatars and AI beings. We will create a future in these metaverses before actually downloading the blueprints to be fab’ed in the physical world.”
Many of these online worlds are already a part of our lives, from Horizon Worlds to Fortnite - virtual gaming is a part of all our lives. These gaming experiences are often associated with the youth, however the Metaverse opens up the space to everyone, no matter interests or age. That is because the Metaverse won’t just change the way we engage with each other - it will change the way we work too.
Think about it like this: instead of communicating with a colleague via a video platform like Zoom, you will be able to put on a VR headset and speak with them in a digital environment through your digital avatar.
The Wrap Up
Web 3.0 and the Metaverse are not in competition, in fact, they overlap. A content creator is able to design the skin of an avatar for the Metaverse and will be able to sell this skin through an NFT via Web 3.0. And this is a win-win for internet users across the world.
Are you prepared to make the shift to Web 3.0? DXG is here to help and ensure your business and digital presence is ready for this new digital era.
Toni Becker - Website Content Writer at Digital Nexa
Toni is a writer with degrees in media, journalism and dramatic art. She began her career as an actress but soon realized that writing was her passion. She has worked in the marketing, social media and content writing space for over a decade and looks forward to expanding her knowledge and skill everyday. When Toni isn’t writing, she spends her time working as an activist in the mental health space.
