Web3 platforms team up for the Open Metaverse Alliance
OMA3 will concentrate on developing standards and enabling collaboration among Web3 stakeholders and other industries. Several prominent Web3 names have joined the effort to ensure interoperability among virtual worlds.
To address the industry's interoperability challenges, blockchain-based metaverse and Web3 platforms have chosen to join the Open Metaverse Alliance for Web3 (OMA3). The Alliance's four basic values are believed to be transparency, inclusiveness, decentralisation, and democratisation.
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Basically, OMA3 will be developed as a decentralised autonomous organisation (DAO) to enable a "transparent and user-centric" governance mechanism. It will concentrate its work on metaverse-related topics such as nonfungible token (NFT) standards, protocols, transferable identity, gateways across virtual worlds, mapping, and indexing.
A DAO is essentially an online community that uses Web3 tools to organize and spread control among its members. DAOs often use a cryptocurrency or token to incentivize their members and govern decision-making.
Sebastian Borget, the co-founder of Sandbox, created an example of a digital avatar to demonstrate the difficulties that OMA3 will focus 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 OMA3 has yet to present a detailed breakdown of what they intend to undertake. More information will be revealed during the Global NFT Summit in London.