Since there is a lot of confusion regarding the future technology, there is growing confusion among people who tend to use these two terms, Metaverse and Web 3, interchangeably. Web 3 is a paradigm that addresses the unique challenges of the Web 2 internet. Social media platforms like YouTube and Facebook created ecosystems and Web 3 is a reaction to those walled ecosystems. Such ecosystems have resulted in people's data being extracted, their privacy being violated, and their ability to control the information being restricted. Web 3 is a reaction against such ecosystems as it aims to subvert them by addressing the issues of ownership. Overall, Web 3 is a crucial building component for the metaverse, although it is a subset of it.