Web3 or Web 3.0 is the latest itteration of the way it wider internet is working or structured. We have been through a few somewhat clearly defined phases and are now entering what is said to be the third phase.
The first version of the web is now dubbed Web 1.0 where we went from offline to online, just starting out and making sense of the possibilities. This brought very simplistic static experiences with a lot of flashing gifs to the first bulk of webpages. This era was broadly in the 90s and early 2000s, where there were not really much you can do online in terms of getting service or interacting with others.
Web 2.0 is where we are now, maybe getting closer to the end of it or co-existing with the upcoming Web3. This is the era where there are a lot of possibilities online, search for anything, interact with anyone, book things or anything else you can currently imagine. It is possible for anyone to participate but it’s getting increasingly run by a handful of tech giants such as Google, Facebook or the like. And these companies have incredible power to influence what can be done, said and found online.
With the rising Web 3.0 or Web3 for short, there is a increasing sense of urgency to take the power back to the users. To decentralize the infuence to the people invested in the category and not let a bigger organization that may or may not have your interest in mind be the driving force. An example of this is of course the blockchain and all the possibilities that comes along with it when it comes to running metaverse worlds, creating NFTs or organizing DAOs.