Crypto:
29757
Bitcoin:
$66.848
% 0.23
BTC Dominance:
%54.3
% 0.12
Market Cap:
$2.43 T
% 0.29
Fear & Greed:
73 / 100
Bitcoin:
$ 66.848
BTC Dominance:
% 54.3
Market Cap:
$2.43 T

Differences Between Web3 and Metaverse

Lately, two big concepts in the blockchain world are making waves: Web3 (or Web 3.0) and the metaverse. Although both concepts seem to play a role in the future world, they are sometimes confused or treated as if they are the same. However, Web3 and the metaverse are terms that represent two separate concepts.

In this write-up, we’ll first explain the concepts of Web3 and the metaverse, and then delve into their differences.

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What is Web3?

Web3 (or Web 3.0), in simple terms, can be defined as a decentralized internet. Web 1.0 was an internet structure where users did not interact. With the development of Web 2.0, innovations such as the rise of social media created a more interactive structure for users. However, this internet structure still faces centralization issues. Web3, on the other hand, promises a structure based on distributed technologies such as blockchain and decentralized autonomous organizations (DAO), decentralized applications, instead of centralizing on servers owned by individuals or companies.

The idea here is to create a more democratic internet. No organization or person will be able to control the flow of information or “pull the plug” on a network. In this new internet structure, users will have ownership rights over the servers where applications run and data is stored, as well as the systems and networks. In other words, you, as users, will be the owners of the websites, online platforms, and servers you use.

Many blockchain and decentralized application projects are currently aiming for Web3. For example, Polkadot (DOT) can be cited as a project in line with Web3 goals. You can read more about the relationship between Polkadot (DOT) and Web3 by clicking here.

What is the Metaverse?

The concept of the metaverse currently refers to virtual worlds where users can interact with each other and connect more comprehensively to applications and services.

The term “metaverse” was first used by author Neal Stephenson in the 1992 novel Snow Crash. Subsequently, with books and movies like Ready Player One and The Matrix, the metaverse became a recognized concept in mainstream culture. Today, due to advancements in virtual reality and blockchain technologies, the metaverse is becoming increasingly widespread.

In platforms like Decentraland (MANA) and The Sandbox (SAND), users can buy and sell virtual lands and products as NFTs, and create various content on their virtual lands. In this regard, the metaverse can be considered as the starting point for an alternative life and world for people. Various companies are already holding meetings in metaverse spaces, concerts are being organized on metaverse platforms, and stores are opening.

Differences Between Web3 and Metaverse

Now, let’s answer the question: What are the differences between Web3 and the metaverse that will shape the future world? Before answering this, it’s important to understand why these two concepts are often confused.

Why are Web3 and the Metaverse Confused?

There are several reasons why Web3 and the metaverse are often talked about as if they are the same. Firstly, both are still in their early stages of development. Many companies developing Web3 and metaverse projects have embarked on this journey with different ideas, resulting in different outcomes. For example, Meta (formerly Facebook) announced in 2021 that it would spend at least 10 billion dollars to develop a metaverse. However, Meta’s vision of the metaverse is very different from those who believe the metaverse should be decentralized.

In addition, one significant reason for the frequent confusion between Web3 and the metaverse is undoubtedly the various ways in which these two concepts are intertwined. The blockchain technologies, cryptocurrencies, and NFTs used to create metaverse platforms today are also used in the development of Web3.

 

How are Web3 and the Metaverse Different? Now, let’s get to our main question: What are the differences between Web3 and the metaverse?

In fact, we’ve already provided the fundamental answer to this question: Web3 and the metaverse are conceptually different. Web3, as the third major stage in the evolution of the internet, promises a decentralized and more democratic internet environment. The metaverse, on the other hand, is a concept that defines virtual worlds as an alternative to the physical world, where users can interact with each other. One is a version of today’s internet, while the other is a part of the online world, an online reflection of the real world.

Today, both concepts rely on blockchain technology for implementation. Web3 must rely on blockchain due to its vision of decentralization. However, the concept of the metaverse predates the emergence of blockchain technology and includes online games where users can interact with each other in a virtual world. Essentially, what blockchain technology does is to build a decentralized metaverse and expand the usage areas of the metaverse. Today, the metaverse is progressing towards becoming a virtual equivalent of the real world thanks to blockchain technology.

Therefore, we can say that the concepts of Web3 and the metaverse are fundamentally different. However, both use blockchain technology and concepts such as NFTs in terms of implementation.


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