Last updated on July 7, 2022 The digital space is experiencing many changes and advancements these days, which is paving the way for a completely decentralized and virtual world. Starting from Web 1.0 to Web 2.0, the way information is exchanged between users to how we interact with each other, everything has completely changed. Now the world is going towards more immersive space, but exactly how? Let’s dig in to find out.
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What is Web 3.0?
Long gone are the days when the information available online only came from the directories. With the evolution of the World Wide Web, it has become extremely easy to find relevant information within nanoseconds, all thanks to the current version of web which is web 2.0.
Web 2.0 made the internet highly interactive all thanks to the advancements that have been taking place in the current web technologies. Javascript, CSS3, HTML5, all these web development tools have made it easier to interact with the outside world in a much more dynamic and fluid way.
Web 2.0 paved the way for social networks and gave rise to the production of user-generated content.
But here is a twist.. Web 2.0 is not the end game. The online world is ever evolving which means the online experience will see more mind bending and shocking advancements that will leave humankind boggled. Web 3.0 is one product of such wondrous advancement.
This web version is the next stage of the web world that aims at making the internet a lot more intelligent. This version will bring revolution on how the internet processes information, thanks to its human-like intelligence.
Web 3.0 will decentralize the data networks, giving maximum or even complete control to the users, making it an open source software. It will allow interaction without the requirement of any permission from the governing bodies.
It is safe to say that Web 3.0 is paving the way for an online world that will go far beyond the realms of social media, streaming, and online shopping. Web 3.0 will be applicable in such areas that will greatly improve the user interaction.
From great connectivity between devices (internet of things) to full authorization, you will get to see an online world that will be as real as it could ever get.
What is NFT?
NFT’s (non fungible tokens) are a way of turning your digital assets into one of its kind by turning them into a unique digital signature. That signature defines the ownership of your assets and lets you sell it in return for real money, cryptocurrency, or any other asset. The term, non fungible token comes from the fact that NFTs are digital files of literally anything, but they are original and unique in many ways.
Take an example of a LeBron James video clip of him dunking, which is available for USD $55,555. This NFT is created by Lebron himself and the reason why its value is so high is the fact that the clip has been made available for sale by the celebrity himself. Even though people can easily find this clip on the internet and can watch, it’s just the idea of collecting a one-of-one unique digital asset that no one else owns. Here, having bought the original clip of LeBron from LeBron himself makes all the difference, than just watching the clip anywhere on the internet for the sake of enjoyment.
What is Metaverse?
Combining all the latest technologies together such as AI, VR, and AR; metaverse gives rise to an online world where you can interact physically. Yes, you heard that right! Now you can be a part of the online world with the help of your virtual self.
Metaverse is an entire universe where your virtual self will be able to travel between online experiences. It will allow you to not only interact with others but have an economy, ability to get services, home space, and much more. It will create an immersive environment for you that will be similar to your real world.
Connection between Metaverse and NFTs
Since the very nature of NFTs is allowing you to have a true ownership of all your digital assets such as pictures, videos, audios, or real estate – there is a very close connection between NFTs and the metaverse. Since you will be able to transfer, buy, and sell any digital assets in the metaverse using NFTs.