This study compares the terms of service for three major metaverse platforms—ZEPETO, Roblox, and The Sandbox—to see how they incorporate Web 3.0’s four key traits: decentralization, openness, participation rewards, and data ownership. The findings show that each platform adopts Web 3.0 features differently. ZEPETO, derived from a Web 2.0 company, remains relatively centralized, though it encourages user-generated content and offers virtual currency rewards. Roblox supports a robust creator economy and allows real-currency conversions of its in-game currency, yet retains a degree of centralized oversight. The Sandbox demonstrates the highest level of decentralization by integrating blockchain, tokenizing user assets, and promoting inter-platform transactions. These results underline the need for more user-centric, standardized terms of service consistent with Web 3.0 principles and call for further research that includes the perspectives of platform operators and creators.