Web3 is the term used to describe the “next level” of the internet - following on from web 1 (HTML, or the “world wide web”) and web 2 (social media, and the user-generated web).

Although exactly what defines a web3 site, service or application is still the subject of some debate, it’s generally agreed that it will be decentralized, with infrastructure that is owned by the users and creators. It will also be deeply linked to the real world due to being built on Internet of Things (IoT) technology and to the concept of immersive, connected environments (aka the “metaverse”).

It’s fair to say that, as I am writing this post, web3 is very much a work-in-progress, and different people have some very different ideas about what it will end up looking like. However, the fundamental principles are very much operational today and are being used to create a new generation of digital platforms and services that are already pioneering the concepts.