November 27, 2023

Image Credit: Pinterest

Key Differences: Metaverse vs. Web3

December 23, 2023

Nature

Metaverse: Virtual, immersive, and 3D digital environments.

Web3: Decentralized &  blockchain-based internet. 2.

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Interaction

Metaverse: Focus on virtual experiences and interactions within a simulated environment.

Web3: Encompasses various decentralized technologies beyond virtual reality, emphasizing connectivity and data ownership.

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Technology

Metaverse: Primarily utilizes virtual reality (VR) & augmented reality (AR) technologies.

Web3: Built on blockchain & decentralized technologies, including smart contracts & distributed networks. 2.

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Purpose

Metaverse: Centers on creating immersive digital spaces for socializing, gaming, & commerce.

Web3: Aims to establish a more open, transparent, and user-centric internet, emphasizing privacy and decentralization. 2.

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Ownership

Metaverse: Virtual asset ownership within the digital realm (e.g., virtual real estate, in-game items).

Web3: Focuses on decentralized ownership of data, assets, & identity across the entire internet. 2.

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Economy

Metaverse: In-game economies, virtual currency transactions, & digital asset trading.

Web3: Decentralized finance (DeFi), token economies, & peer-to-peer transactions across  various platforms. 2.

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Scope

Metaverse: Primarily associated with virtual world & digital experiences.

 Web3: Encompasses a broader vision for the entire internet, aiming to redefine how data & value are managed, shared, & transacted online.

Image Credit: CoinGape