This is the first of its kind systematic review paper that explores transformative architecture of Smart Grid 3.0 by integrating cutting-edge technologies such as artificial intelligence (AI), digital twins, blockchain in the metaverse environment. It presents the novel architectural frameworks, that is the proposed transformations of nanogrid, microgrid, and VPP topologies to their Grid 3.0 counterparts. This illustrates their enhanced operational capabilities in the context of emerging technologies. For the first time, this study systematically analyzes the application of advanced algorithms and technologies across all hierarchical subsystems-nanogrid 3.0, microgrid 3.0, VPP 3.0, and Smart Grid 3.0. These digital technologies have the transformative capabilities. The digital twins can perform real-time monitoring, simulation, and predictive analysis; blockchain ensures secure, decentralized energy transactions; and the metaverse creates immersive, interactive environments for system management. This review also explores the role of AI in power grid which is to optimize energy scheduling, fault detection, and energy management (DSM, DR, Energy trading). This paper adds to the literature by systematically addressing subsystems of Smart Grid 3.0, including energy generation, transmission, distribution, communication, and storage. Challenges such as interoperability, scalability, data integrity, and cybersecurity are discussed, and solutions are proposed which highlights the need of interdisciplinary approach. These include cyber-attack detection and mitigation mechanisms, advanced simulation tools, and robust policy frameworks. This review provides insights as to how the technological advancements align with the dynamic needs of electricity sector. By integrating these technologies across hierarchical energy systems, this study establishes a foundation for future research in transforming conventional smart grid infrastructure into a resilient, efficient, and interconnected cyber-physical energy network called as Smart Grid 3.0 as the peak of this evolution so far.