Will Metaverse, Web 3.0, Blockchain, and NFT change everything as promised by expanding our virtual universe? Or they are only hype? Find out about these technologies which became buzzwords of 2021
Metaverse
‘Metaverse’ broadly refers to shared, immersive digital environments where people can meet, create, socialize, work, buy goods and services, and attend events with other people who are not in the same physical space. A true metaverse is meant to perfectly replicate real life, although it is unclear how many more years it will take to develop. The term metaverse was coined in the dystopian novel ‘Snow Crash’ three decades ago. It gained recognition this year after social media giant Facebook renamed itself Meta to reflect its new metaverse focus.
Web 3.0
Called the next version of the internet, Web 3.0 will be built on the concept of decentralization, openness, and greater user utility. It will be based on the blockchain record-keeping technology, where users would have ownership stakes in platforms and applications. In retrospect, the current version of the world wide web or Web 2.0 is characterized by social media platforms, which allow the greater proliferation of user-generated content.
This is a far cry from Web 1.0, which was all static and non-interactive -- an entirely top-down approach towards information dissemination.
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