ELI5: what is the difference between metaverse and web3

The metaverse is like a new, shared online world you can visit, while Web3 is like a new set of rules for how that world (and the internet in general) is run, making it more fair and owned by everyone.

Think of it this way:

• Imagine the internet today as a big playground. You can visit different slides (websites) and swings (apps), but the playground is owned by a few big companies, like Google and Facebook. They make the rules and control everything.

• The metaverse is like building a brand new, super-cool section of that playground. It's a 3D space where you can hang out with friends, play games, go to concerts, and even shop, all as an avatar. Think of it like a giant online video game, but it’s supposed to feel more real and connected.

• Web3 is like changing the rules of the entire playground, including the metaverse part. Instead of the big companies owning everything, Web3 aims to give everyone a piece of the pie. It’s like having a system where you earn tokens (like digital tickets) for helping keep the playground clean and fun, and you can use those tickets to vote on what new equipment to add or how to improve the playground.

• The metaverse is a place – a new kind of online world.
• Web3 is a philosophy and a set of technologies that aim to change how the whole internet works, making it more decentralized and user-owned. It can affect the metaverse, but it's not just about the metaverse.