The Metaverse is a collective virtual shared space, created by the convergence of virtually enhanced physical reality and physically persistent virtual space, including the sum of all virtual worlds, augmented reality, and the internet.
The term was coined by author Neal Stephenson in his 1992 science fiction novel “Snow Crash”. In Stephenson’s vision of the metaverse, it is a three-dimensional representation of data that exists on computer networks.
Today it is a global network of interconnected immersive spaces that people can visit and interact with other people.
Some would say the Metaverse is not just an idea or a theory, it’s already here and more importantly it’s the next phase of human evolution.
Web 3.0 and Metaverse technologies perfectly support each other. While Metaverse is a digital space, and Web 3.0 favors a decentralized web, it can serve as the foundation for Metaverse connectivity. On the other hand, the creator economy in the Metaverse can complement the vision of Web 3.0 by implementing decentralized solutions to develop a whole new financial world.
Web3 is the third stage in the development of the World Wide Web and should not be confused with the Metaverse. Metaverse is an online parallel world based on virtual reality where users can interact with each other and with virtual objects in a 3D environment. It is an extension of the Internet to a three-dimensional virtual environment.
People can create avatars to represent themselves on this immersive and interactive social platform. You can also buy and sell virtual goods there, and communicate with other users in real time. For more information on blockchain technology and ideas such as digital identity, smart contracts, and decentralized applications, visit Web 3. (dApps)
Sources
1.https://medium.datadriveninvestor.com/the-insane-future-of-web-3-0-and-the-metaverse-4cec3f13895a
2.https://appinventiv.com/blog/metaverse-use-cases-and-benefits/
3.https://markovate.com/blog/web3-vs-metaverse/
4.https://markovate.com/blog/web3-vs-metaverse/
5.https://medium.datadriveninvestor.com/the-insane-future-of-web-3-0-and-the-metaverse-4cec3f13895a
6.https://www.analyticsvidhya.com/blog/2022/08/how-is-web30-related-to-the-metaverse/
