Metaverse and Web 3: What’s the Difference?

In this blog post, we will focus on discussing the common similarities and differences between Metaverse and Web 3, which are two supreme technologies that are generating hype and bringing a wave of excitement to the world of business and finance. Although they are related to each other in several important ways, but both are both different concepts altogether. But before proceeding to discuss the common similarities and differences between Metaverse and Web 3, let’s discuss what these two technologies are.

What is Metaverse?

The term Metaverse is given by Mark Zuckerberg, founder of company Meta (formerly known as Facebook). However, this term was first featured in Neal Stephenson novel based on science fiction known as Snow Crash, which depicted a world of virtual reality. Since then, books and films such as Ready Player One and The Matrix have hyped this term to popularize it. 

Basically, Metaverse is a digital universe or next-generation version of the internet, where people represent themselves and communicate with one another using avatars or virtual representations. It can be utilized for professional collaboration, gaming, socializing and so much more. 

Microsoft and Meta are among the company’s developing technology for interfacing with virtual worlds, but they are not alone. Many more huge corporations, like Nvidia, Unity, Roblox, and even Snapchat along with some smaller firms and start-ups are laying the groundwork for improved virtual worlds that more closely resemble our actual lives. 

Characteristic Features of Metaverse

Following is some of the characteristic features which Metaverse technology have: –

1. Metaverse is an extended network of digital space. Users travel across a virtual world that simulates aspects of the physical world using technologies such as Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR). 

2. Metaverse is a large scale, interactive, and real-time 3D virtual network world that can be experienced by an unlimited number of users synchronously and persistently. 

3. Users of Metaverse technology can create their own avatar accounts, and the historical data of these accounts will not be emptied but will be continuously saved for a long period of time. In addition, account identity information, payment methods, communication methods, etc. can be shared across various platforms that are compatible in nature. 

4. Using Metaverse technology, users can communicate with eyes, gestures, etc., not limited to typing or voice. 

5. Using Metaverse technology, digital cash is used to purchase clothing, weapons, and shields in video games, and a variety of other products. 

6. Using Metaverse technology, instead of communicating with our co-workers via a video conferencing service like Zoom or Google Meet, we could put on a VR headset and interact with their avatars in a virtual area all from our living room. 

What is Web 3?

Web 3.0 or Web3 is the third generation of evolution of web technologies known as W3 (World Wide Web) which is the foundational layer for how the internet is used, providing website and application services. To overcome the limitations of Web 1.0 and Web 2.0 which were functional between 1991 and 2004, ‘Web 3.0’ was introduced by Gavin Wood, co-creator of the Ethereum Blockchain, who expected the future of internet to be centered on Blockchain Technology & Decentralized Autonomous Organization (DAOs) not on centralized servers. 

Characteristic Features of Web 3

Following is some of the characteristic features of Web 3 have: –

1. In comparison to the first two versions Web 1.0 and Web 2.0 respectively, Web 3.0 is fully decentralized which means governance-based applications and services will be enabled in a distributed approach, where there isn’t a central authority. 

2. Web 3.0 is designed on the principle of ‘blockchain technology’ which is the enabler for the creation of decentralized governance-based applications and services which means data and connection are distributed in a way which is different as compared to centralized data infrastructure. 

3. Web 3.0 uses ‘Cryptocurrency’ enabled feature which is a key and important feature that largely replaces the use of flat currency. 

4. Web 3.0 is autonomous and artificially intelligent which is designed to better understand what someone is searching for to provide more relevant results. 

Similarities Between Metaverse and Web 3

Following is some of the similarities which are common between Metaverse and Web 3: –

1. Metaverse and Web 3.0 are inseparably linked to each other as Metaverse will continue to exist in deep webs, even though Web 3.0 is still frequently referred to as decentralized.  

2. Use of Semantic Web advance evolving technology is yet another common ground of similarity between Metaverse and Web 3.0. 

3. Use of Artificial Intelligence which is yet another key component for both Metaverse and Web 3.0 which is integral to build a sophisticated user interface. 

4. Use of Blockchain Technology is yet another common ground of similarity between Metaverse and Web 3.0 which is a potential module to integrate the Web3 engine that will power Metaverse goods and services. 

Differences Between Metaverse and Web 3

Following is some of the differences between Metaverse and Web 3: –

1. The biggest difference between Metaverse and Web 3.0 is that people generally use Web 3.0 to access the Metaverse which is ironical itself.   

2. Metaverse is a digital universe or next-generation version of the internet, where people represent themselves and communicate with one another using avatars or virtual representations. On the other hand, Web 3.0 is all about decentralized ownership and control by putting the web in the hands of its users and the global digital community.  

3. Metaverse uses technologies such as AR (Augmented Reality) & VR (Virtual Reality). On the other hand, Web 3.0 uses technologies such as Blockchain and Cryptocurrency concept. 

4. Metaverse is all about gaming, social media, retail and others. On the other hand, Web 3.0 is all about the standards for how the internet should be used in near future. 

Conclusion

In the end, we can conclude to say, Metaverse is a 3D world where we can interact with 3D friends, objects, places. For example, we can play games with our friends from the creator’s ground. Whereas, in the case of Web 3.0, the users can cultivate, own, sell, and buy their content. 

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