Metaverse and Web3 are a different yet very necessary advanced technology

  • Relevance of Metaverse and Web3 amid the new trends of AI.
  • The downfall of the platforms is because of reduced attention span.

The two terms Metaverse and Web3 are often used interchangeably but they mean completely different things altogether. The technology used on both platforms is way too advanced and will evolve further with the help of AI in the future. However, these ideas sound yesterday in front of recently introduced AI like ChatGPT, Dall-E, and Generative AI. Below we discuss why and why not these technologies are obsolete or revolutionary.

Difference Between Web3 and Metaverse 

The major difference between the two technologies is that one focuses on decentralizing and democratizing the internet. Meanwhile, Metaverse is more of a centralized platform in terms of socializing. Web3 is all about giving the power back to the users to ensure that the power of internet influence does not go into the hands of the government and huge industries. In the meantime, Metaverse is only focused on providing the framework of virtual reality, not caring about who owns it. 

Hots For New Tech Rather Than Metaverse Or Web3

It has not been long since these technologies used to excite people and keep them on their toes with their innovations. However, it is the nature of the hype cycle which makes anything go viral and shift people’s attention to other things. And it’s not that these technologies or platforms have become obsolete but it is people’s span of attention that has shortened. With every new evolution in the field of technology, everything takes much less time than it used to. And the contribution of short-form content on social media is more than people realize at the moment. 

There is no denying that the hype is dying down slowly but does that mean the technology is of no use? Most certainly not the experts believe that the true value and potential of these platforms will rise when there will be zero hype among the people. The major sectors that will be affected by technology are education and health care. Therefore these platforms hold a huge potential to contribute to the growth of society in general. 

Reason For Lashback On These Platforms

Metaverse is a new budding technology and it takes a lot of money to build something at that level. And Facebook has lost billions and billions of funds building its cutting-edge technology. Moreover, Web3 which focuses on decentralization becomes the cause of major fraud over the internet making it less and less reliable in the market for people to trust. However global brands and governments are still big on hopes from these platforms as they hold the potential to do great things. 

Another major reason for the downfall of such trendy technology is the frauds who used the terms ‘Metaverse’. ‘Web’ to make quick bucks by influencing people. This brings a bad name on the platform. These people switch on to the next trendy things that go viral. 

Moreover, the fall in the prices of Crypto is also another reason for people’s lack of interest in these platforms. Decentralization of the internet on Web3 is done through blockchain. Crypto is one of the major use cases of blockchain technology.