All about Crypto & Blockchain

Launch of the Open Metaverse Alliance by Web3 platforms.

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Several Web3 platforms have partnered with metaverse (blockchain based) to set up an alliance. Called the Open Metaverse Alliance (OMA3), the goal is to ensure that interoperability issues faced by the industry are addressed. Core principles that the Alliance will operate on are decentralization, democratization, inclusiveness and transparency.

This organization was set up by Decentraland, Dapper Labs, Alien Worlds, Voxels, The Sandbox and other companies. Per the official announcement, the means by which interoperability standards will be addressed is by making collaboration easier. All Web3 stakeholders will with industry companies to work on standards and set up collaborative projects.

OMA3 is being set up as a DAO so the governance system is transparent and user-friendly. The focus is on specific topics related to the metaverse like NFT standards, how to transfer identities, protocols, indexes and maps.

Alliance members also intend to be a part of the Metaverse’s Standards Forum. This forum will coordinate requirements and offer support for standards already in place. The idea is also to develop new standards which are Metaverse relevant.

Sebastian Borget, Sandbox’s co-founder, offered the example to highlight the issues that OMA3 will work on. His example of a digital avatar and how OMA3 would work is as follows. The avatar would be more than a virtual representation. The avatar will have a reputation that is unique to the user and all NFT holdings can be viewed, created, earned or even purchased. The Alliance has promised to reveal more details on the work the OMA2 will do. This information will be made available at the NFT summit which is being held in London on July 22nd.

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