Too Long; Didn't Read
The term Web3 emerged in 2014 to describe new protocols that enable decentralised consensus. Web3 interconnects data in a decentralised way to deliver a fast and hyper-personalised user experience securely, via blockchain. The foundations for Web3 and by extension the metaverse were laid by the gaming sector and cryptocurrencies. The first virtual assets were in-game tokens that could be bought and sold, which have existed in the popular games, Life, and World of Warcraft since 2004. In 2019, COVID-19 happened and the world was forced into lockdown, and consequently went online. This represented a big shift in user activity and user behaviour.