No, the Metaverse is not just an initiative by Facebook. Microsoft and chipmaker Nvidia are two more corporations that are promoting the metaverse. Companies that make video games are also taking the lead. Epic Games, the maker of the famous video game Fortnite, has raised $1 billion from investors to help fund its long-term metaverse aspirations.; Web3 enables new business and social models. For example, smart contracts run applications that eliminate intermediaries and administrative overhead of controlling centralized entities. Tokens, including cryptocurrencies, power the business models and economics what is margin trading bitcoin of Web3, and are built into blockchain protocols. Web3 supports new business opportunities, such as the programmability and monetization of creator-owned and managed content in the form of NFTs.