The Web3 Era: NFTs, the Metaverse, Blockchain, and the Future of the Decentralized Internet

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"Touted as the next big technology platform, Bloomberg Intelligence predicts that the Metaverse will become an $800-billion industry by 2024. Popularized by Facebook's rebranding to Meta in October 2021, NFTs and the metaverse have not only received a lot of interest and attention from the press over the last several months, but many players across industries are actually looking to ride the Metaverse wave. Web3, a term coined by Ethereum Co-founder Gavin Wood, is basically a concept of a revamped version of the Internet that we use today, fundamentally based on blockchain technology and is on decentralized, community-run networks. Enthusiasts have different ways of describing the forms of Web3 but many see it favoring content creators and users, rather than the major corporations, by providing control over their own data and online preferences."