What Is the Difference Between Web 3.0 and the Metaverse?

authorToni Becker dateJul 7, 2022 10:05:17 AM

There are few things in life that are certain, and in the digital age, there is one more certainty we can add to that list: the internet will always be evolving. And today's latest evolution speaks of Web 3.0 and the Metaverse. These are not just trending topics that are going to fade into oblivion and it is important for digital marketing agencies to recognize that these aren't just trends - they are soon to form part of the fabric of modern society. 

But what are they and how do they differ? 

Well, let’s take a closer look at the latest evolution of the internet. 

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Introducing Web 3.0

First, there was Web 1.0 (1991 - 2004)  and this evolved into the internet we know today - web 2.0 (an internet dominated by user-created content). But now we are entering the latest evolution of the internet and Web 3.0 is taking center stage. And this version of the internet is going to be focused on Blockchain technology. You may be wondering what Blockchain technology is and yup, there is going to be a lot to learn in the coming years! 

Blockchain technology focuses on decentralized data. 

The co-founder of Ethereum, Vitalik Buterin describes what this means: 

“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.” , Read more on huffpost.com

Essentially, Blockchain technology guarantees the fidelity and security of a record of data and generates trust without the need of a trusted third party. So, instead of spending our time on websites such as Google, we will be able to use social media and search engines that allow us to control the data we create online. 

Non-Fungible-Tokens (NFTs) and cryptocurrency are the first signs of this new online age. NFTs, for example, help creators and artists fully monetize their artworks and digital content.

Read more about NFTs in our blog, How to make, sell and buy NFTs. 

Now that we have a deeper understanding of what Web 3.0 is, let’s take a look at the Metaverse.

Introducing the Metaverse

Web 3.0 refers to who will control and own the internet of tomorrow whereas the Metaverse focuses on how users will experience this version of the internet. As it stands, users today navigate websites via screens however, the metaverse will be changing this as it allows users to enter the internet through virtual reality and create avatars and virtual worlds.

"The metaverse could comprise a solitary stage or numerous web administrations covering simple exercises. It could incorporate PC designs, AR, VR, and individual symbols and be a spot for clients to interface with one another and the rest of the world in horde ways. Likewise, it could connect to outside financial frameworks to permit individuals to benefit from virtual products" - Mathew Ball

Some of these online worlds are already part of public consciousness including Fortnite and Horizon Worlds, virtual games that are beloved around the world. These games are usually associated with the youth, however the Metaverse is set to provide online worlds for everyone, no matter age or interest, transforming not only the way we socialize and market our businesses (and ourselves) - but the way we work too. 

For example, instead of communicating with your colleagues via zoom and video conferencing technology, you will be able to put on a VR headset and engage with their digital avatars in a digital environment and space. And rather than communicating with friends through messenger text apps, you’ll be able to meet up with them in a virtual realm. 

So, now that we understand the difference between Web 3.0 and the Metaverse - let’s take a look at how these two will link together and create the future. 

Connecting Web 3.0 and the Metaverse

Web 3.0 and the Metaverse are not competing for the top spot in the new internet age; in fact, we can expect the two to overlap in many ways. For example, a content creator may design an avatar skin for the metaverse and can make money by selling it as an NFT through Web 3.0. 

But there is a difference between the two that needs to be recognized and that is: Web 3.0 can be experienced just like today’s internet, through computers and smartphones while the Metaverse wont be exclusive to VR technology. 

The Wrap Up

As we head into the new era of the internet, we are excited for what’s to come. 

Keep an eye on our blog for more Metaverse and Web 3.0 insight as we ride this journey alongside you.

Contact Nexa for all your digital marketing and digital growth needs today - and let’s explore the opportunities that await in the new internet space. 

Ready for a deep dive into the world of web 3.0 & the metaverse? Here’s a guide on everything you need to know in order to become a pioneer of the future, with an array business opportunities to unlock.
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