The Open Metaverse Alliance for Web 3 (OMA3) was launched to focus on standards and partnerships between different stakeholders of Web3 companies and those operating in different industries.
Web3 companies launch the Open Metaverse Alliance
OMA3 will be created using metaverses and web 3 companies using blockchain technology. The goal of the alliance is to overcome industry interoperability challenges.
The alliance said it would focus on four core principles: decentralization, democratization, inclusiveness and transparency. OMA3 was created by some of the biggest organizations such as Animoca Brands, Alien Worlds, Dapper Labs, The Sandbox, Upland, Space, Superworld and Voxels.
According to the official announcement of this alliance, the joint organization would be established as a Decentralized Autonomous Organization (DAO). This will ensure that the governance system is transparent and user-focused.
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It will also focus on metaverse topics, including the non-fungible tokens (NFT), identities, portals, protocols, indexing and mapping. Members of the OMA3 alliance are also working to join the Metaverse Standards Forum. The forum is made up of several Web3 companies and also supports existing metrics while developing the standards needed for the metaverse.
Working on issues with Web3
The Web 3 and Metaverse sectors have become very popular over the past year. These sectors became popular towards the end of last year after Facebook rebranded to Meta. Also, more and more users have headed to the metaverse.
The co-founder of The sandbox, Sebastian Borget, is one of the big names in the metaverse who are now part of this alliance. Borget provided a detailed example of how a digital avatar would work on the issues that OMA3 would address.
Borget said they wanted the avatars to be more than a virtual representation. The goal was to create avatars that hold the reputation of anyone seen on the channel, and NFTs that could be owned, earned, created, or purchased. Borget also said the plan provides a detailed history of transactions and progress and actions made over time.
OMA3 has yet to provide an outline of everything they plan to do. The announcement added that more details would be provided at the NFT Global Summit in London to be held on July 22.
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