Web3 is the latest buzzword in the digital world, but most believe it’s synonymous with the metaverse and NFTs. This common misconception exists because the terms seem to be intrinsically linked together any time there is a discussion about any of them. However, Web3 is so much more than the metaverse, and it is growing closer to matching the original vision for the internet than it has ever managed since its inception.
Let’s brush up on history before we break down essential technical terms and dive deeper into the impact Web3 will have on businesses.
Web 1.0, created in 1989, was mainly focused on centralized technology infrastructures that delivered static website content. It was considered an information delivery system by most. Because of this, companies like Yahoo, Google and Amazon were born to help people sift through all of the content and deliver what was most relevant to each individual.