- Popular blockchain-based companies like The Sandbox, Dapper Labs, Animoca Brands, and Decentraland have partnered to launch the Open Metaverse Alliance for Web3.
- Overcoming interoperability challenges faced by the industry is the purpose.
- The alliance will focus on the core principles of Web3.
Many leading blockchain-based companies have come together to launch the Open Metaverse Alliance for Web3. OMA3 is an organization built to take the metaverse towards the key principles of Web3. These principles are transparency, interoperability, inclusiveness and decentralization.
A number of Web3 companies aim for an interoperable metaverse that allows movement of virtual assets and avatars between the platforms without losing their one-of-a-kind traits.
In the words of OMA3:
We will build infrastructure to ensure the metaverse operates as a unified system where digital assets (such as NFTs), identities and data are permissionless and interoperable for all and controlled by users, not platforms.
Structured like DAO or Decentralized Autonomous Organization, the OMA3 membership list featured the names of the leading Web3 companies such as The Sandbox, Dapper Labs, Animoca Brands, Decentraland and Upland.
Decentraland is part of The Open Metaverse Alliance for Web3. OMA3 is open to all Web3 metaverse builders.https://t.co/Mhf28Ul04V— Decentraland (@decentraland) July 25, 2022
The organization has welcomed blockchain companies with a similar vision to come forward and join OMA3 in the journey of creating an open metaverse. According to the company, more details will be shared during the Global NFT Summit scheduled to happen this weekend in London.
OMA3 will leverage the governance mechanisms of DAO to maintain the transparency and community-based approach of the system.
A list of important topics has been prepared by the alliance to be addressed by the DAO. Some of these topics are standards for NFTs, portals between virtual worlds, protocols, mapping & indexing and transferable identity.
The alliance will also join the recently launched Metaverse Standards Forum, featuring technology companies like Adobe, Epic Games, Meta, Microsoft, Nvidia and more.