Web3 and metaverse: reasonable differences and similarities

In the space time continuum that is the Internet, two of the most talked about concepts in recent years are the metaverse and Web3. They both have something in common: the blockchain technologies like cryptocurrencies. They also have in common that both projects are being developed and, although some details have been seen, more from the metaverse than from Web3, the two promise big changes in what we know as the Internet.

They also have in common that both metaverse and Web3 advocates consider each of these projects they are the future of the internet. But while some bet on a more commercial visionothers want go back to the origins of what was once the Internet before Google, Facebook (now Goal) and company. And although they do not have to be rivals, it is inevitable to compare metaverse and Web3 due to their differences in concept.

Let’s see what each project consists of, what they have in common and, above all, what sets them apart. And it is precisely in the differences that the answer lies. why is there much more talk metaverse than Web3 and those who support one and others.

Metaverse and Web3, two possible futures

Although we have already talked at length about the metaverse, it is worth reviewing its definition. The metaverse It’s basically a network of virtual worlds in three dimensions, a kind of social network that bets on immersive experiences thanks to technologies such as virtual reality. However, there are currently virtual worlds that are part of the metaverse but that still do not promote the use of virtual reality.

In the metaverse you can perform all kinds of activities. The most common today is gaming and entertainmentbut in the medium term, actions focused on education, massive virtual events such as concerts or movie previews, etc. could be carried out.

For its part, the Web3 wants to be an evolution of the current World Wide Web. Through decentralized protocolsthe purpose is that the user has more privacy and that it is possible to offer services and products beyond the domain that names such as Google, Apple, Facebook (now Goal) either amazon.

In common, metaverse and Web3 employ blockchain related technologies. Thanks to this, digital resources such as cryptocurrencies or NFTs, which have had good press in recent years due to the interest generated by investors and speculators. In contrast, the purpose of Web3 is more focused on allow the entry of new actors in the ecosystem that is the Internet.

The differences between Web3 and the metaverse

An article from the Blockchain Council, an organization that promotes this technology, defines very well what differentiates the metaverse from Web3. Both start from the use of the blockchain, with different purposes. But there are several things that make them different.

For starters, your goal. Web3 proposes a more democratic and decentralized Internet, less dependent on the big Silicon Valley companies. For its part, the metaverse does not pretend to be so ambitious. Its objective is to offer 3D virtual worlds in which users can interact bridging the gap between the physical world and the digital world. And, in part, both goals are compatible, since the most important players in the metaverse are hitherto unknown names like Decentraland, Roblox either The Sandbox. And although the giants Microsoft, Facebook (Meta) either Google are interested, their projects are still in development.

On a technical level, Web3 is 100% blockchain based. Its use is intended to apply to any communication, action or transaction that occurs. Instead, in the metaverse, the blockchain is used to identify the user and/or to make purchases or acquire tokens or cryptocurrencies, but other technologies are involved such as virtual reality and others that have been used on Web2 for years.

Two proposals united by the blockchain

In short, as the Blockchain Council explains, the metaverse wants remove the physical limitations of virtual space for use in video games, social events, work, health, various activities, etc. For its part, Web3 wants to empower the Internet user and make the Web a more accessible place and less dependent on large corporations.

Both Web3 and the metaverse use blockchain technology for their operation. For example, like digital currencyas a secure login method or user identification and/or to give value to any digital resource by converting it into a token or NFT. For the rest, each of these projects move in different paths but related to each other. Both compatible, because while one is based on virtual worldsthe other wants change a part of the internetthe Web.

But what most defines Interrelation of Web3 and the metaverse it is the use made of cryptocurrencies, tokens and NFTs and, finally, purses or cryptowallets. Precisely, the majority of current metaverses They use these elements as a form of financing and to capture the interest of users and investors. A way of monetize a virtual space newly created and of which we have barely explored its many possibilities.