The metaverse is still in its early stages. There are only a handful of fully developed games and worlds for people to engage with, most of them being blockchain based. Web 3.0 serves as the umbrella term for all the numerous metaverse worlds.

Web3 is the name some technologists have given to the idea of a new kind of internet service that is built using decentralized blockchains — the shared ledger systems used by cryptocurrencies like Bitcoin and Ether.

The third phase of the internet combines blockchain technology, cryptocurrency, and digital ownership with new governing structures with terms prearranged and automated by smart contracts to allow decentralized projects to prosper. Web3 both stands on the shoulders of the open-source ethos that supports the earlier internet phases and threatens to ... See more