To overcome interoperability issues in the industry, a Blockchain-based metaverse has been formed with Web3 platforms. The Alliance’s four core principles are transparency, inclusion, decentralization, democratization, and the other three.
Alien Worlds and Animoca Brands founded the joint organization. As the official announcement specifies, the means to overcome interoperability challenges would be focused on proposing standards and facilitating collaboration between various stakeholders of Web3 and other industries.
OMA3 will be established as a decentralized autonomous organization (DAO) to ensure a governance system that is “transparent and user-centric.” It will focus its efforts on specific metaverse-related topics, such as standards for nonfungible tokens (NFTs), protocols, transferable identity, portals between virtual worlds, mapping and indexing.
The Alliance members intend to join the recently announced Metaverse Standards Forum — a constellation of Web3 companies, coordinating requirements and support for existing standards and developing standards relevant to the Metaverse.
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Sebastian Borget, Sandbox founder, used a digital avatar as an illustration of the issues OMA3 will be working 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 announcement promises to reveal further details of the OMA3’s outline during the Global NFT Summit in London on Fri.