Talk Web3 to Me: A Glossary of Terms

variety.com:

Todd Spangler NY Digital EditorBlockchain — A distributed, publicly accessible database that functions as a ledger to record digital transactions (such as records of a cryptocurrency transaction).

The blockchain provides a way to conduct verifiable, trusted transactions — without the need for a centralized third-party entity.Metaverse — A virtual-reality space in which users can interact within a computer-generated environment with virtual objects, artificial- intelligence elements or other users through virtual avatars. (Think of the gamelike VR world from “The Matrix” movies.) The metaverse concept is a subset of Web3 technologies.Cryptocurrency — A virtual currency in which transactions are verified and records maintained by a decentralized, block- chain-based system using cryptography, rather than by a centralized authority.

Bitcoin and Ethereum are two of the most widely used cryptocurrencies. NFT — A non-fungible token is a unique digital ID, which can’t be copied or substituted, and is recorded in a blockchain.

NFTs are used to certify authenticity and ownership of a specific piece of digital content (like an image or a video) along with specific rights pertaining to the content.DAO — A decentralized autonomous organization is controlled by its participating members; it isn’t governed by any single individual or entity.