Will Web 3.0 or the Metaverse Shape the Future of the Internet?

Will Web 3.0 or the Metaverse Shape the Future of the Internet?

New technologies have always been the topic of debate across multiple media platforms. Years ago, the arrival of the internet raised issues about mass unemployment in developing nations and the privacy of users in developed nations across the globe. Similar sentiments are apparently visible today vis-à-vis the debates on Web 3.0 and Metaverse, largely to identify a better alternative.   

 Debates on Web 3.0 vs. Metaverse

The million-dollar question is: which technology will finally shape the future of the internet? How are we going to access the internet? Through the metaverse or web 3.0? These questions have been gaining momentum in recent times. The tech giants have announced their ambitious plans to enter the metaverse with their applications. 

However, the world is still struggling to understand the fundamentals of the metaverse, and discussions about Web 3.0 also present critical implications. Both terms would have a massive and sustained impact on the future of connectivity. Therefore, it is important to reflect on the differences between them and their implications for the future of digital technologies. 

The History of the Internet 

Before a discussion on Web 3.0 and Metaverse, it is important to take a look at the history of the internet. Let us look back in web history to see how the world arrived at web 3.0. 

The first iteration of the web, or web 1.0, also popularly known as the Classic Web, surfaced in 1991. Tim Burner Lee introduced the world of the internet, and the age of web 1.0 continued till 2004. During the classic web phase, the internet focused primarily on offering documents through HTML pages, which are accessible through browsers. 

The arrival of web 2.0 brought corporations into play. Web 2.0 was obviously different from Web 1.0 as corporations were primarily responsible for developing the second phase of the web. Apps began to replace browsers, and the web focused on enabling users to read as well as create and deliver content. As a result, we were able to witness the rise of social media and e-commerce. Web 2.0 successfully introduced reading and writing functionalities on the internet along with establishing the foundation of the platform economy.  

What does Web 3.0 bring to the table? As the next iteration of the internet, how can web 3.0 compete with the concept of a metaverse?  

Web 3.0 Definition 

People think of Web 3.0 as the next step in the development of the internet. It is practically a revolution of sorts in the fundamental precedents of the way the web works. However, it is also important to note that there is no specific definition for Web 3.0. It is still a concept under development. Tim Burner Lee, the father of the internet, believes that the semantic web will be the next major step in the evolution of the internet. 

The semantic web focuses on ensuring that all content on the internet is machine-readable. But virtual assistants such as Alexa and Siri are already doing the same. Does this mean that we are already in the third generation of the web?  

The perception of web 3.0 and metaverse has changed considerably since 2020, especially with the incorporation of blockchain. The focus of Web 3.0 has shifted towards the creation of a decentralized web. Many are wondering about the need for decentralization on today’s web when anyone can access the internet.  

However, a major share of the web belongs to big tech corporations, establishing a strong case for a decentralized web. Besides decentralization, Web 3.0 also includes non-fungible tokens or NFTs, decentralized finance or Defi, and decentralized autonomous organizations or DAOs. 

Enter the Metaverse 

As one of the most debated topics in the world of technology, the metaverse has forced many industry experts to wonder about its potential implications. The participation of huge companies such as Facebook, Microsoft, and Epic Games showcases favourable prospects for the metaverse. In addition, the Metaverse vs. Web 3.0 comparisons also draw attention to the metaverse. 

So, what is the metaverse? In simple words, the metaverse is a digital space that would merge physically persistent virtual spaces with virtual, augmented physical reality. You can think of the metaverse as a representation of the digital world you can access through your smartphone, albeit in a 3D representation.  

Imagine shopping for clothes in a digital store as an avatar by trying out the clothes to check the fitting. The metaverse would basically combine different digital spaces into a world where users could move seamlessly between the different spaces. The different digital spaces in the metaverse can allow participants to leverage unique functionalities.  

For example, they can play games with friends or collaborate with colleagues for work in the metaverse. The basic definition of the metaverse also shows its potential for becoming the future of the internet. Therefore, the significance of the discussion on Web 3.0 vs. Metaverse has become more relevant in the present times.