A Buzzword-Free Explanation of the Metaverse, Web3, and the Future of Tech

Have you nodded along as the metaverse has been “explained” with a cacophony of buzzwords and vocabulary that - if you understood them - would render the explanation unnecessary?

Whether you feel like you vaguely “get it,” or are acutely aware you’re faking understanding as terms like NFT, crypto, Web3, and blockchain are thrown around, we’ve got you covered.

Read on as three experts decode the metaverse and explain what we all really need to know.

What is the metaverse?

“In simple terms, the metaverse is a virtual universe where there are aspects of our ‘IRL’ (real) lives like commerce, social interaction, concerts, games, and more. [It also includes] aspects unique to being digital such as avatars, digital collectables (also called NFTs), and more. It's where [digital and physical] can converge.” Rebecca Batterman, a Web3 Consultant and Advisor explains. “Think of the metaverse on its simplest level as if you jumped into a video game.”

She understands the sense of disorientation around the concept. “The term metaverse can be confusing for people to understand because it isn't a singular place you buy a ticket to like Cleveland or even the moon, or even Mars. It's the next version of the internet, existing across different digital locations, companies, and even different metaverses.”

Nina Kong-Surtees, the founder of smART Advisory, a consultancy helping artists and art organizations to navigate art (and tech) ecosystems, describes the metaverse as “an extension of our physical world, where we explore possibilities and expand our imaginations” before implementing those possibilities and ideas into tangible forms.

“The metaverse is an access, or entry point to alternative layers of data, experience, architecture and human connection,” simplifies Sam Ewen, CoinDesk’s web3 lead and head of CoinDesk studios.