If you are on the internet for a good amount of your time, you probably have seen these works somewhere, Metaverse, Web3, and NFTs. While not everyone knows what they are and might be confused by the terms. We are here to explain everything.
Let’s start with the metaverse. If we dissect the word, “Meta” means “Beyond” or “Something More” while “Verse” stands for “Universe“. Combining both results in something we can say is “Beyond the Universe“. It essentially means something more than the current state we live in.
Another simpler meaning is; “The mixing of the physical world with the Virtual World“. If you see around you, VR or AR are massive right now, many companies are working on AR glasses and other products. This is what is described as Metaverse. Think of it as another virtual world that is freely accessible through the internet and compatible hardware devices. If you have seen the movies “Ready Player One” or “Spy Kids 3D” you can get the idea.
This Metaverse is closer than we think, just see how much of our daily life is integrated into our virtual accounts. You keep your money and pay through a virtual account like PayPal, you play games, stream & talk to your friends via Discord. Crypto is another virtual example that many of us are investing in.
If we speak in simple words, Web3 shows the evolution of the Internet. We started from Web1 and are on our way to Web3. Before we define Web3, we have to get a strong understanding of what Web 1.0 and Web 2.0 are.
Web 1.0 was the period of time describing the appearance of the Internet. When it was all new, it was something no one thought or had seen. This was the initial surge of interest in e-commerce, browsers, and messaging.
Web 2.0 was when the internet started to become something more than a tool. Beautiful web pages, news, YouTube, Facebook and more. This was also when the internet started to become mobile and available everywhere. We are currently in the last stages of this phase.
Furthermore, the Web 3.0 or Web3. This one will be built on open standards, by an open and accessible community of developers and executed with full transparency. It will be “Trustless” meaning that participants can interact with the comfort that all information is correct. It will also be “Permissionless” meaning that no one can be barred from participation, even from an authority figure like a government.
Finally, the Web3 will be the most secure, the most authentic and the most useful form of the Internet since its birth.
NFTs are your digital belongings. Let’s go back to the Metaverse for this one. If you are gonna like in the virtual world, earn from it, interact with it, you will need a platform to stay on. If you for example have your “virtual home” on the platform of Google or Facebook, they can have access to your privacy every time.
If you ever do something that they don’t like or is against their rules, they can delete everything you have! All your data, all your cash, everything. So, NFT is the way to own your data that will be only yours. It is like Web3, no one can steal your platform, your data will belong to you only, you can use or sell however you want.
For now, NFT is only in the form of art and stuff right, It will be way more than that.
The Metaverse is a parallel world we will work and live in soon, the cryptocurrency will be the currency useable there and NFTs will be all of your assets inside that world. So, what do you think about Metaverse, Web3, and NFTs? Share your thoughts in the comments below.