Wiser! #49 (Premium): Web3 is everything crypto and the economy that is forming around it; DeFi, DAOs, Dapps, Decentralised, NFTS. It's on the same course as the Metaverse, just taking a different route. In this 2 Part series, I make sense of what's happening and what's next for the Internet.

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In times to come, people will look back at 2021 as a turning point in the evolution of the Internet and how we use it.

In the same way that the launch of the iPhone in 2006 is seen as a pivotal moment in the transition to the 2nd generation of the Internet. This year, 2021, is going to be seen as the year the Internet moved into its next phase.

Some call it Web3. Some call it the Metaverse. Some think it's just about wearing an Oculus 2 headset and living life as an avatar in a virtual game world. Some think it's a bunch of overblown hype and will never happen. Somewhere in the middle of all that is the destiny of the Internet. Because one thing is for sure, nobody really knows what it is going to be like when we get there.

So, for this issue of Insights, I am going to try and make some sense of it for you. Building on the recent two-part series on the Metaverse, in this issue I will focus on the so-called 'Web3' and explore the ways in which it is different to the Metaverse.

Web3 and the Metaverse; two sides of the same coin

'Web3' and the 'Metaverse' are the 2 terms most used to define what's coming for the next era of the Internet.

Neither are new terms, but 2021 is the year when all the pieces appear to be falling into place and there's nothing better than a social media label to hang the conceptual hat on. Essentially, Virtual Reality and Augmented Reality have been rebranded into this ephemeral thing called the Metaverse, and now encapsulate a whole bunch of tech that centres around an immersive online experience. (Go here to read Parts 1 and 2 of The Metaverse.)

On the other side of the coin is a whole bunch of innovations and creativity in the cryptocurrency space. These include non-fungible tokens (NFTs), decentralised autonomous organisations (DAOs) and smart contracts running on blockchain technology.

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