The potential next evolution of the worldwide web that decentralizes interaction between users and content away from the big silicon valley social media platforms like Twitter, Facebook, and YouTube, and towards peer-to-peer interaction using blockchain as the underlying technology. 
CyberWire Glossary link: https://thecyberwire.com/glossary/web-30
Audio reference link: “What Elon Musk Just Said about Metaverse, Web3 and Neuralink,” By Clayton Morris, Crypto News Daily, YouTube. 2 December 2021.