The terms “Web3” and “Metaverse” have been used interchangeably by some people who don’t have much clue about these two emerging technology. Though it is true that these two concepts have a vision for a better internet future, it is important not to conflate them. While Web3 focuses on who owns and controls the internet, the metaverse is concerned about how users interact with it. Both Web3 and Metaverse use blockchain, however, there are grey areas that need to be explained so as to know the distinctions.

What is The Metaverse?

The Metaverse can be seen as the representative of the digital world which can easily be accessed through the aid of the internet of things (IoT), however in a 3D representation. Imagine a world where you can attend the live concert of your favorite artist virtually, or have to shop for desired items with a sense of presence, all from the comfort of your room. Being one of the latest and most talked-about topics in the technology world, some companies like Facebook, Microsoft, Amazon, The Sandbox, etc have been finding ways to key into the latest tech development. And as the idea keeps improving, it is expected to go beyond just social media and video games.

Metaverse Origin

The word “metaverse” can be traced to Neal Stephenson’s 1992 novel, “Snow Crash”. Ernest Cline gave a further disclosure on the concept through his 2011 novel “Ready Player One.” The word “metaverse” itself describes a fully digitized world where virtual, augmented, and physical reality is being merged.

What is Web3?

People take Web3 to be a development of the current version of the web, but in the real sense, it is a revolution of a sort in how the web generally works. The internet started with web 1 in which the site owners are predominantly the contributors and users have no input or participation.

Then we have web 2 where users can interact with the web. This era witnessed the birth of social media and some platform sites such as Airbnb, YouTube, Uber, etc. However, just like web 1, it has its shortcomings in that the web owners have control over users’ accounts, and as well have access to their data. This lack of privacy and ownership explains why there needs to be another version of the web.

Differences between Web3 and Metaverse

The Metaverse looks so vague and more speculative yet. Although Facebook rebranded to Meta and is pushing towards its Metaverse project, it takes more than just a few bunches of people to make it work. That is, for the Metaverse to take form, it requires the input and participation of everyone. Web3, on the other hand, has a specific objective and everyone can easily buy into it because it has a clear focus: to improve on loopholes that exist in web 2. Web3 is not all about decentralizing the web, but it also extends to topics such as non-fungible Tokens (NFTs), decentralized finance (DeFi), decentralized applications (DAPPs), and decentralized autonomous organizations (DAOs).

Below are some of the differences between Web3 and Metaverse:

Definition

Let’s start with the definition. Web3 is based on the concept of having a decentralized web backed by blockchain technology, where users can create and own their assets. Metaverse on the other hand combines multiple elements of technology such as virtual reality (VR), augmented reality (AR), 3D holographic avatars, etc where users can interact with three-dimensional objects. With the aid of virtual reality goggles, it will be possible for users to interact with other users or objects in the virtual space.

Underlying Technology

Though both a technology of the future, rely on different technology. The idea behind Web3 is to have a web where users own the asset they create on the internet without a centralized control system. For this to happen, the suitable technology for the purpose is the blockchain and cryptocurrency, smart contract. Metaverse on the other hand relies on technologies such as augmented reality, virtual reality, human interface, NFTs, and the internet of things (IOT) with which users can connect to the virtual world.

Fundamental Differences

The Metaverse focuses on building an entire ecosystem. To build the Metaverse, a lot of several advanced technological infrastructures are employed such as a creator economy, decentralization, connection, and interfaces. Web3 creates a decentralized web powered by blockchain with the aim of eliminating a central control system. Users can connect with online services through blockchain.

Privacy Challenge

In terms of privacy, users’ information and data are well protected on Web3, owing to its secured blockchain system. Metaverse does not promise enough privacy for users. Taking for example its underlying technology such as AR and VR on which it relies to offer an immersive view, they could cause exposure of users’ personal information.

Ownership

The primary objective of Web3 is to make the internet public and give everyone equal access. This means that tech mammoths will no longer be the sole owners but all users can participate equally. To keep their domineering power, big tech corporations are already trying to buy some metaverse firms. These organizations are using every resource they have to ensure that they have control of the metaverse.

Where do these two meet?

The two focus on building the next phase of internet technology which will affect the way people communicate, make purchases, and consume content. With the help of blockchain technology, Web3 aims at improving online activities by proving better services over web 2. This advancement is a critical building block for the Metaverse.