What does that mean?


Web 3.0 comes with a number of abbreviations, technical terms and conceptual expressions. Some of these can be tricky to understand, so we made a short list of some of the more common definitions.

Web 3.0

Web 3.0 is the internet era of ownership. The typical characteristics is that a web 3.0 context is a place where you can own and trade digital assets, on site or on public platforms. In comparison, Web 1.0 was only read, web 2.0 was read/write/buy.


An immutable data base, saving data in a sequential ”chain” of cryptographic secured blocks. The data is saved by establishing consensus from a number of nodes/servers. Early versions are energy consuming, while novel solutions have a close to zero CO2 emission.


Non Fungible Token, a non-replaceable digital asset with a unique cryptographic ID and physical ownership. Compared to crypto currency, which is a ”fungible token” – 1 Bitcoin can be exchanged to another Bitcoin, a fungible asset with unique ID and physical ownership.

Tokenized assets

A digital asset connected to a painting, video clip, car, house, image or other product that have a digital ownership tied to a token (NFT). Can basically be anything digital or physical of value.

Crypto assets

Crypto assets are crypto currency like Bitcoin, Ether or an NFT. Crypto is referring to an asset saved on a blockchain, protected by a cryptographic algorithm.

Fiat currency

Fiat currency is an expression referring to common money in a currency like USD, Euro, SEK


A metaverse is a virtual world in 2D or 3D, where you can spend time, meet people, buy things, experience happenings and live a digital life. Can be Web 2.0 or Web 3.0 based. For example:  Roblox, The Sandbox, Decentraland, Second Life.

Machine Learning / AI

Machine Learning / Artificial Intelligence is an algorithm based solution used to solve specific tasks based on a given set of data in known contextual premises. The solution has a learning component, refining optimizing the outcome to meet a specific objective.

Smart contracts

Smart contracts are simply programs stored on a blockchain that run when predetermined conditions are met. These actions could include releasing funds, registering a vehicle, change ownership of tokenized assets or issuing tickets. The blockchain is then updated with the new information.