The metaverse is a shared virtual space built on top of web3 technology, where users can interact with each other and virtual objects in a decentralized and secure manner.
Web3 provides the technical infrastructure for the metaverse to exist, while the metaverse is the embodiment of web3's vision of a decentralized and immersive virtual world. The two concepts are interdependent, as the metaverse requires web3 technology to function, while web3 technology finds its full potential in the creation of a metaverse.

Source: https://holonext.com/metaverse-101-understanding-the-seven-layers/
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