This year, tech CEOs were inspired by a 1990s science fiction novel, Reddit investors’ language filtered into the mainstream as “diamond hands” and “apes” rattled Wall Street, and a DAO attempted to purchase a rare copy of the United States Constitution.
The metaverse is a term that refers to a collection of shared, immersive digital habitats that individuals may move between and access via virtual reality, augmented reality, or computer screens.
Some tech CEOs believe it will be the mobile internet’s successor. The term was coined three decades ago in the dystopian novel “Snow Crash.” CEOs of technology businesses ranging from Microsoft (MSFT.O) to Match Group (MTCH.O) have acknowledged their responsibilities in the metaverse this year. Facebook (FB.O) changed its name to Meta in October to reflect its new metaverse focus.
Web3 is a term that refers to a possible next phase of the internet: a decentralized internet based on blockchain record-keeping technology.
This approach, in which users own stakes in platforms and applications, would be in contrast to today’s internet, known as Web2, in which platforms are controlled by a few major tech firms such as Facebook and Alphabet’s (GOOGL.O) Google.
