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Now that both Spider-Man and Venom are a part of the same universe, the MCU, a lot of possibilities opens up. Not only could Venom encounter and fight Spider-Man, or work alongside him, if needed, but could take on multiple enemies who haven't been available to appear in his movies before. As such, Venom 3 could become the most interesting part of the series so far.
Both in the MCU and in the comics, there are plenty of established Spider-Man and Venom villains that might cross Eddie Brock's path - to Eddie's terror but to the audience's amusement. And some of them are so dangerous or cunning that even Venom might have a hard time defeating them!
5 Black Cat
Despite the importance Felicia Hardy aka Black Cat played in Peter Parker's life in the comics, the thief turned antihero has yet to appear in any live-action movie. That should change in the close future as Black Cat's solo movie is currently presumably in the works. But before it comes out, Black Cat could just as well make her first appearance in Venom 3. Even though she usually doesn't have any special powers in the comics, there's one notable exception.
In one storyline, Black Cat asks Kingpin to help her get special powers, and she ends up with the ability to cause other people bad luck. That might be something even Venom could struggle with overcoming, since it's not possible to punch bad luck. Plus, it would give the MCU creators to bring back Kingpin once again after his smaller role in the Disney+ series Hawkeye. And even if Venom 3 portrayed Black Cat without her powers, she's still a capable enough thief and a fighter to present a challenge. Eddie Brock could start investigating her crimes as a reporter and then later encounter Black Cat as Venom.
4 Morbius
It's true that Morbius' solo movie with Jared Leto didn't get stellar reviews from some critics and audience members alike, but that doesn't mean that seeing Morbius and Venom in one movie wouldn't be exciting. Especially since they're more similar than they might think. Both of them are trying to control their bad impulses - in Venom's case, it's biting heads and killing people, and Morbius doesn't want to drink other people's blood. They could either fight each other or join forces against a mutual enemy.
Since they have different fighting styles, it could make for some creative fighting scenes. And if that wasn't enough, the banter between Morbius and Venom could also bring something new to the movie - because so far, Venom has mostly been bantering with Eddie himself, a fact that some fans noticed and were quick to point out that Eddie and Venom are acting like an old married couple!
3 Agent Venom
If the Venom movies continue in the same lines as before and have Venom fight evil symbiotes, they could just as well bring Agent Venom onto the scene in Venom 3! In the comics, Flash Thompson becomes Agent Venom willingly after he suffers an injury and can no longer walk. Joining with the symbiote not only gives him the chance to walk again but also allows him to fight evil. It's true that Agent Venom isn't a bad guy, per se, but Venom could still perceive him in this way. Perhaps because Agent Venom would be tasked to find and capture Venom?
There are multiple ways how the movie could introduce the new characters. Another advantage to Agent Venom's presence is that Joe Manganiello could reprise his role as Flash Thompson that he portrayed in the original Sam Raimi Spider-Man trilogy. Manganiello became a popular name in the recent years, and many fans would appreciate seeing him in a superhero role - especially after his Deathstroke appeared only for a very short amount of time in the DCEU.
2 Vulture
To this day, Michael Keaton's Vulture remains one of the best MCU villains. He had a logical reason for what he was doing and thanks to Keaton's performance, came across as both sympathetic and frightening at times. Yet he was suspiciously absent in the subsequent Spider-Man movies and only made an appearance in Morbius. Keaton could return as Vulture in Venom 3 as well and start laying the bases of the team Sinister Six.
Or if that wouldn't work out, he could simply end up fighting Venom or working alongside him for another reason. Perhaps Venom could need Vulture's assistance because he would be dealing with a stronger enemy? Whatever the case, it's almost certain that seeing Michael Keaton and Tom Hardy play off of each other would be a welcome sight!
1 Prowler
It might seem like a stretch at first but Prowler could turn out to be the perfect villain for Venom 3 because it would form an even closer connection between Venom and Spider-Man. And not just one Spider-Man but two! In the comics, Aaron Davis aka Prowler is the uncle of Miles Morales who goes on to become Spider-Man. Prowler has already appeared in the MCU, in Spider-Man: Homecoming (2017), and spoke with Tom Holland's Spider-Man.
Donald Glover played Aaron Davis and mentioned that he has a nephew, making it almost certain that Miles Morales does exist somewhere in the MCU. As such, it wouldn't be impossible to bring both Prowler and the new version of Spider-Man into Venom 3, especially if Tom Holland decides he wants to take a break from his role as Peter Parker.