Explained: Web3 and Metaverse

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Web3 and Metaverse were born out of the problems of a centralized internet. Though similar in some ways, they solve different problems. Through the hype of blockchain technology and Facebook’s creation of their Metaverse, more people have been curious about these two concepts and that’s why you’re here today.

New Delhi (ABC Live): The digital world is changing swiftly in term of connectivity, media and content.

ABC Research team working and reporting on future media technologies refers an article written by Paul Ugbede Godwin first published on Takedia.com  

Web3 and Metaverse were born out of the problems of a centralized internet. Though similar in some ways, they solve different problems. Through the hype of blockchain technology and Facebook’s creation of their Metaverse, more people have been curious about these two concepts and that’s why you’re here today. In this article, I’ll highlight why metaverse and web3 are interrelated, also different in many ways, and why you should choose Poly186 as it is the metaverse that will change the world.

What are Web2 and Metaverse

Web 3.0 is the upcoming third generation of the internet where websites and apps will be able to process information in a smart human-like way through technologies like machine learning (ML), Big Data, decentralized ledger technology (DLT), etc.

The Metaverse is an embodied internet that enables people around the world to meet by creating an avatar that can be personalized and make them feel more non-fictional than a normal video call.

Similarities of Web3 and Metaverse

They are built on similar technology; they both use AI(Artificial Intelligence) for advanced user interface and also semantic web

They are both in the early stages

They both evolve with changes in blockchain technology

Difference Between Web3 and Metaverse

Objective: web3 objective is to create a decentralized and democratic internet while metaverse wants to establish an interactive 3D reality for users’ effortless and realistic interactions.

Application: Web 3.0 is the process engine that uses the blockchain’s advances while metaverse uses web3 advances to function properly and grant access to users.

Ownership Battle: the goal of web3 is to make the internet a public-controlled property, an example is BTC, while the goal of a metaverse is to facilitate full ownership of one’s intellectual property.

Perception of Reality: Web 3.0 is primarily concerned with who will rule and govern the internet in the future(this is because they want the people to rule), and the Metaverse is concerned with how users will interact with it.

Application; web3 has applications like Bitcoin (the first and largest cryptocurrency), Apple Siri, and Opensea, while metaverse has features like online shopping, NFT, and video games.

Closing Thought

Web3 and Metaverse is truly an innovation that will change the world, though interrelated, their purpose, use cases, and type of ownership differentiate them from each other.Poly186 is a metaverse that stands out among all as it is created with the world’s needs at heart.

What if the web were multiuser and 3D? Hint: It would be the Metaverse. The Metaverse will happen much faster than everyone thinks as it gains traction via 3D worlds in traditional web sites. Millions of virtual 3D spaces and worlds embedded in the web interoperably with existing sites will collectively form a significant portion of the larger interoperable Metaverse . No one is going to throw away their current web site and build a new one that is multiuser and immersive, but the parts of the site that benefit most will evolve in those directions very rapidly. The Metaverse is an evolution… the next generation of the Web… not a Revolution.

Metaverse Grows Fast Without Virtual Reality

One of the most limiting factors (beyond bad graphics) for Meta and its efforts with Virtual Reality in the Metaverse is what used to be called the “one walkie talkie problem.” When only 10% (generously) of the population have VR headsets and only half of those know where they are, the vast majority of people can’t join in and you have a massive problem with participation and engagement. By allowing any user to participate using so-called Metaverse Browsers that are entirely cross platform to any device with a browser and are frictionless (no downloads or native apps), the growth of the Metaverse will accelerate massively, along with growth in participation and engagement. While it is true that VR can deliver a more immersive experience, it is not a binary experience and has high cost. Very good immersive 3D experiences are available today in cross platform environments that can be offered across any device, ranging from desktops to phones and head mount XR devices. Another case where perfect is the enemy of very good and useful today.

Big Companies Stop Experimenting And Start Building A “Real” Metaverse

Large companies will always do marketing, advertising, customer acquisition and promotions in centralized environments like Roblox, Meta and Decentraland but they will never send their customers, data or transactions there, often because laws or compliance policies prevent them from doing so. The “Real” Metaverse will emerge as an extension of the Web and the Internet, where these large companies already have major traffic and presence on their existing web properties today. The Open Metaverse is decentralized and interoperable and will form the basis for how large companies interact with existing customers for transactions, support, upselling and logistics on the websites they already manage and control today.

Artificial Intelligence will make content creation significantly faster.

Tools like GitHub Copilot, DALL-E, and ChatGPT will continue to evolve, become more accessible to a wider audience, and become more ethically acceptable to use. Metaverse technologies rely heavily on high-quality content, which has historically been expensive and time-consuming to produce. That content will become inexpensive to make, and those content creators will not need to invest as much time in learning the tools.

Metaverse platforms will embrace asynchronous content.

Real-time communication platforms are and will continue to be important, but not all users can be online at the same time. Ghost avatars, rich notes between friends, and other time-independent interactive content will continue to evolve.

Metaverse technologies will be built by and used by a more diverse group of people.

Given the potential reach of metaverse technologies, it’s imperative that these technologies be built for people with a wide range of backgrounds and abilities. As solutions for identity in the metaverse become more varied, people will be able to express themselves safely in the way that feels most comfortable for them. Safety and anti-harassment tools will be built into platforms as they become more decentralized.

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