Monday 15 August 2022
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Web3 platforms launch the Open Metaverse Alliance

Blockchain-based metaverse and Web3 platforms have decided to form an Open Metaverse Alliance for Web3 (OMA3) to overcome the interoperability challenges of the industry. Four core principles of the Alliance are said to be transparency, inclusiveness, decentralization and democratization.

The joint organization was established by Alien Worlds, Animoca Brands, Dapper Labs, Space, Superworld, The Sandbox (SAND), Upland and Voxels. As the official announcement specifies, the means to overcome interoperability challenges would be focused on proposing standards and facilitating collaboration between various stakeholders of Web3 and other industries.

OMA3 will be established as a decentralized autonomous organization (DAO) to ensure a governance system that is “transparent and user-centric.” It will focus its efforts on specific metaverse-related topics, such as standards for nonfungible tokens (NFTs), protocols, transferable identity, portals between virtual worlds, mapping and indexing.

The Alliance members intend to join the recently announced Metaverse Standards Forum — a constellation of Web3 companies, coordinating requirements and support for existing standards and developing standards relevant to the Metaverse.

Related: Web3 dominates venture capital interest in blockchain industry in Q2 2022

The Sandbox co-founder Sebastian Borget made an example of a digital avatar to illustrate the issues OMA3 is going to work on:

“We want your Avatar can be more than just virtual representation, and also carries your reputation as anyone can see on-chain which NFTs you hold, earned, created or bought, the full history of transactions and as well hopefully the progression/actions you have contributed to throughout time.”

The announcement promises to reveal further details of the OMA3’s outline during the Global NFT Summit in London on Fri.

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