Countless companies seem to be asking themselves the same question these days—what is the metaverse, and how can we monetize it? And how is that different than Web3?

Generally, the metaverse is thought of as virtual worlds that function as social networks where people can interact for work or entertainment experiences and may do so through virtual reality and augmented reality devices. One can think of Web3 as the building blocks for not only the metaverse, but the next iteration of the Internet, using technologies such as decentralized blockchain technology in a private, permissionless, and secure manner.