Blockchain and Web 3.0-based metaverse platforms have decided to form the Open Metaverse Alliance for Web3 (OMA3) to overcome the industry’s interoperability challenges.
The four core principles of the alliance are said to be transparency, inclusiveness, decentralization and democratization.
As the official announcement specifies, the means to overcome interoperability challenges will focus on proposing standards and facilitating collaboration between the various Web 3.0 stakeholders and other industries.
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Exciting news, Explorers!
"Leading blockchain-based virtual world platforms announce the Open Metaverse Alliance for Web3 "OMA3" to jointly address interoperability challenges of the industry"#OMA3 #NFTCommuntiy @Metaverse_Forumhttps://t.co/YdEWZgvEbp pic.twitter.com/FUNBCUTA6Q
— Alien Worlds Official (@AlienWorlds) July 21, 2022
OMA3 will be established as a decentralized autonomous organization (DAO) to ensure a “transparent and user-centric” governance system.
It will focus its efforts on specific issues related to the metaverse, such as standards for non-fungible tokens (NFT), protocols, transferable identity, portals between virtual worlds, mapping and indexing.
We are incredibly excited to announce the Open Metaverse Alliance for Web3. Multiple virtual worlds have come together to solve key challenges of the metaverse and preserve the freedom of information owned by users. Stay tuned for announcements on https://t.co/nd6KfRxsis
— Open Metaverse Alliance for Web3 (@oma3dao) July 21, 2022
The announcement of the new blockchain-based organization comes on the heels of the announcement of another metaverse “alliance” known as the Metaverse Standards Forum.
Founding members of that group include Microsoft, Meta (formerly Facebook), Alibaba and Sony, companies that are not known for allowing users to keep, let alone transfer, their data freely between applications.
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
Sandbox co-founder Sebastian Borget made an example of a digital avatar to illustrate the issues OMA3 will be working on:
“We want your avatar to be able to be more than just a virtual representation, and also carry your reputation, since anyone can see which NFTs you have, have earned, created or purchased, full transaction history, and hopefully the progression/actions you have contributed to over time.”
“Digital property rights represent a generational, society-defining shift that affects everyone online, and will lay the groundwork for the emergence of the open metaverse,” said Yat Siu, co-founder and executive chairman of Animoca Brands, in a statement. “We are deeply honored to continue to enjoy strong investor support as we work to consolidate Animoca Brands’ leadership position in the Web3 industry and in the field of true digital property.”
OMA3 intends to take a different approach
“We believe in a metaverse without firewalls, where individual platforms are interconnected and fully interoperable,” OMA3 says.
The group says it is inviting all companies in the blockchain-based metaverse to join the alliance.
According to OMA3, this new decentralized autonomous organization, better known as a DAO, will operate as a consortium, guided by inclusiveness, transparency and Web3 principles.
A DAO is essentially an online community that uses Web3 tools to organize and share control among its members.
DAOs typically use a cryptocurrency or token to incentivize members and govern decision-making.
“The standards we create are guided by the goals of real ownership and real-time interoperability,” the group says.
OMA3 says it will build the alliance’s infrastructure to ensure that the metaverse functions as a unified system in which digital assets, identities and data are permissionless and controlled by users, not platforms.
The group also claims that users will own their assets and will be able to freely transfer them to any OMA3 world without permission from the individual platform.
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