Ellen Britt for CNT #NFT
You wouldn’t be the first person to think that the terms Web3 and the metaverse are the same thing. They are related, so that’s completely understandable.
Similar But Different
Let’s take a look at the differences. Web3 is simply the internet, but an internet built in a decentralized way, on blockchain technology or DAOs (decentralized autonomous organizations) instead of being located on a centralized server which in turn is controlled by an individual or corporation. The metaverse just means a virtual world, where you can interact with others through a digital representation of yourself known as an avatar,
Our Way, Or The Highway
But they are interrelated in a very important way: web3 technologies can provide a decentralized platform on which virtual worlds are built. For example, Decentraland’s entire world is constructed on the Ethereum blockchain.
What this means is that the users who buy plots of land there with Ethereum, can help to set the rules about what can happen there and what can’t, as opposed to a corporation saying “It’s our way, or the highway!”
A Bright Future
So even though web3 and the metaverse are different, they are closely interrelated and by using the two technologies together the future promises to be a bright one!