Does Web3 exist now?

Is Web3 truly a reality in today's digital landscape, or is it still a concept that we're striving to achieve? With the advancements in blockchain technology and decentralized systems, has Web3 transcended from the realm of theory into a tangible, operational framework? And if so, what are the defining features that set Web3 apart from its predecessors, Web1 and Web2? Furthermore, what challenges does the implementation of Web3 pose, and how are these being addressed by industry leaders and innovators? As we delve deeper into this question, let's explore the intricacies of Web3 and its potential impact on the future of the internet.