Web 3.0 is the successor to Web 2.0, which was the successor to Web 1.0. To break it down further, Web 1.0 was the first version of the internet that provided an open platform for anyone to access information from anywhere in the world. While Web 2.0 enabled users to create content instead of just read-access; users could now read and create information using social media and other platforms; but this was not owned by users. This was driven mostly through advertising revenue and big data.
Web 3.0 is where users will be able to access, create, and own – giving users power over what they create. For example, right now Instagram technically owns any picture you upload on its website; but with Web 3.0, you will be able to monetize it for your own benefit."