Web3 is positioned as an Internet network in which all information and content are registered on the blockchain, tokenized, managed, and accessed on peer-to-peer distributed networks. Accordingly, Web3 will be decentralized with the same cryptographic verifiability that has given rise to cryptocurrencies, non-fungible tokens (NFTs).
The description seems confusing, but it is. It is not completely clear whether such a project can be brought to life, because opinions about the network have been divided. Including Elon Musk called it a marketing ploy.