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What is Web3? The term often confused with crypto, NFTs and the metaverse is getting popular

December 22, 2022


The reputation of Web3 has taken a beating after the collapse of the cryptocurrency exchange FTX, but the term is used to encompass a lot more than just crypto tokens.

Depending on who you ask these days, Web3 is either imploding or finally escaping the shadow of sketchy cryptocurrency businesses for a more sustainable future.

The collapse of FTX, once the second-largest crypto exchange in the world, sent shock waves through the market. This caused some people to cast doubt on the future of Web3, which has long been conflated with cryptocurrency even though it is supposed to encompass so much more.

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