Web3 is the vision for a new iteration of the internet that aims to be more decentralized, transparent, and user-centric. Unlike the current Web2, where data and control are largely concentrated in the hands of large tech companies, Web3 leverages blockchain technology to distribute ownership and control among its users. This means that users have more control over their data and online identity, and can interact directly with each other without intermediaries. Web3 also incorporates concepts like token-based economics and decentralized autonomous organizations (DAOs) to create a more equitable and participatory online environment. While still in its early stages of development, Web3 has the potential to revolutionize how we interact and transact online.