Web3
A vision of a decentralized internet built on blockchain, where users own their data and digital assets.
What is Web3?
Web3 (also written Web 3.0) is a concept for the next iteration of the internet, built on public blockchain networks, where ownership, governance, and value are distributed among users rather than concentrated in platforms and corporations. The term contrasts with Web1 (static, read-only web pages, 1990s–2000s) and Web2 (interactive but platform-controlled web, dominated by companies like Google, Meta, and Amazon). Web3 envisions users owning their digital identity and assets through self-custodied wallets, interacting with decentralized applications (dApps) via smart contracts, and participating in platform governance through tokens and DAOs. In practice, Web3 is most associated with blockchain-based finance (DeFi), digital ownership (NFTs), and decentralized social and gaming applications. Critics note that many Web3 projects remain dependent on centralized infrastructure and that widespread consumer adoption faces significant user-experience barriers.
Example
A Web3 gaming example: in a Web2 game like Fortnite, the publisher owns all in-game items and can change or delete them. In a Web3 game built on a blockchain, items are NFTs owned by players in their wallets. Players can sell items on secondary markets without the game's permission, and the game's rules are encoded in auditable smart contracts.
Source: Ethereum Foundation — Web3