The European Business Review

THE METAVERSE AND WEB 3.0: EMBEDDING OURSELVES INTO THE INTERNET

We are on the verge of a massive reconfiguration of the way in which we digitally communicate, engage with one another, and do commerce. Emerging at the same time are the Metaverse, the 3D, avatar-centric, virtual reality platform, and the decentralised Web 3.0 platform, built on blockchain, supporting 3D displays, and artificial intelligence. Working together, the Metaverse and Web 3.0 will combine to support most online communication and commerce in just a few years. While parts of these entities will stand independently, the two platforms will overlap and combine most powerfully to revolutionise the way in which we all use the Internet and host the combination of our physical and digital lives. Perhaps “phygital” best describes the new environment that is emerging, combining the terms “physical” and “digital”: “Today's consumer is Phygital: they make consumer choices and purchases both digitally and in the physical world.”1

The development of email and instant messaging through the Internet in the 1970s and 80s inevitably led to the emergence of the World Wide Web 1.0 in the 1990s, with browsers providing easy access to text and messaging at websites. Following a period

You’re reading a preview, subscribe to read more.

More from The European Business Review

The European Business Review9 min readFinance & Money Management
Where FICO Gets Its Data For Screening Two-thirds Of All card Transactions
Scott Zoldi fights crime across the globe. His superpower is data - and an unprecedented, innovative process to amass that data. He’s got his work cut out for him. Every day, hordes of criminals work to exploit systemic vulnerabilities in how you and
The European Business Review4 min readGender Studies
Taking A Stand Against The Gender Gap In Workplace Flexibility
Research commissioned by LinkedIn, involving over 2,000 workers and 503 hiring managers, reveals a stark reality: 52% of women have left or considered leaving a job due to inflexible working conditions. This statistic is a testament to the widespread
The European Business Review8 min readIntelligence (AI) & Semantics
2024: What Is The Near Future Of Generative AI?
Large language models (LLMs), exemplified by Generative Pre-trained Transformer 4 (GPT-4) from OpenAI, launched the year 2023, ushering in a new revolution in AI and machine learning. While traditional machine learning models often rely on single-sou

Related Books & Audiobooks