Two of the terms most in vogue in recent times in the world of technology are the metaverse and the web3. But what exactly are these concepts and what are their differences?
Before analyzing the coincidences and differences, let’s define them.
What is web3?
Web3 is the next step in the evolution of Web 2.0 and is mainly characterized by being intelligent, that is, by making use of data.
Personalizing the experience of services and applications and adapting it to each user and their needs is an improvement, since it allows a more optimized management of information, which leads to a more efficient user experience.
Blockchain technology favors the decentralization of the network to modify the relationship between users and large companies, enhanced by the security that this blockchain technology presents.
One of the main features of the web3 is that web applications will connect with each other by personalizing navigation, with a technology that will provide reliability so that users and content creators themselves control their contributions or preferences when navigating, instead of being in the hands of large technology companies.
Therefore, it could be summarized that the web3 is more reliable and autonomous as the data depends on each person and its main characteristics are its intelligence, ease of navigation, three-dimensionality and openness.
Defining the metaverse is not easy and there is no homogeneous explanation, although there is a certain consensus in considering it as the next evolution of the Internet that will generate an impact similar to the one caused by the birth and emergence of the network itself at the time.
But the truth is that nobody knows for sure what the relevance of the metaverse will be in 30 years’ time.
One definition could be that of Analysis Group, which considers the metaverse as “an expansive network of digital spaces, including immersive 3D experiences in augmented, virtual and mixed reality, that are interconnected and interoperable so that you can easily move between them, and in which you can create and explore with other people who are not in the same physical space as you”.
Having defined both terms, let’s move on to the differences between them. A possible focus of confusion may lie in the fact that they are projects in the development phase and are linked to the blockchain.
While the metaverse refers to the creation of a ‘new world’, web3 is focused on the decentralized infrastructure with which users will be able to create and manage their digital assets, even in the metaverse itself.
Another difference is that while web3 eliminates intermediaries, the metaverse does not.
In the web3 users are the owners of their own creations and identity, something that does not happen in the metaverse.
Moreover, in web3 users create content (which can even be monetized) while the metaverse is a 3D world where they interact in three dimensions.
On the other hand, as for their coincidences, for the metaverse to become what it promises it needs the web3 to come into action making possible and secure transactions such as NFTs or other exchange of values between different users.
Both concepts are based on the promise of greater security for users with the common point, despite their differences, that they represent a reinvention of the Internet experience, even though both are still in the development phase.
In a constantly changing world, human connections are no exception. For this reason, Telefónica sees web3 and the metaverse as an opportunity to connect people’s lives.
Technologies such as web3 bring new ways of building business models or services in which it will be possible to live incredible experiences in the metaverse.
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