Web3 refers to the next generation of the internet, often referred to as the decentralized web. It aims to create a more open and equitable online ecosystem by leveraging blockchain technology to eliminate intermediaries and give users greater control over their data and online identities. The key features of Web3 include decentralized applications (dApps), non-fungible tokens (NFTs), decentralized finance (DeFi), and peer-to-peer transactions. The goal of Web3 is to create a more equitable and secure internet, where users have more control and ownership over their data and online experiences.