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The Open Metaverse Alliance launched across Web3 platforms

Metaverse real estate sales are expected to increase by $5 billion by 2026

Several stakeholders and industrialists have taken the cue from the collaboration of the OMA3 and Web3 platforms and are on the verge of facilitating standard proposals.

The Web3 platforms and blockchain-based Metaverse have decided to form the Open Metaverse Alliance to overcome certain challenges faced in the industry. The Alliance will function on four core principles: decentralization, transparency, democratization, and inclusiveness.

Animoca Brands, Alien Worlds, SAND (The Sandbox), Space, Dapper Labs, Upland, and Voxels formed a joint organization. According to the official statement released recently, the interoperability challenges will be eliminated by focusing on facilitation and proposed collaboration standards across several stakeholders of Web3.

How will the structure of OMA3 be established?

The Alliance is being prepared to be based on DAO (Decentralized Autonomous Organization) to ensure that the governing system functions with ultimate transparency and the platform becomes more user-centric.

We can expect the Open Metaverse Alliance to extensively focus on specific topics related to digital assets—including NFTs (Non-Fungible Tokens). A portal will be established between the virtual worlds, identity will be transferrable, and indexing and mapping features will also be available.

Also, there has been a recent announcement about the Alliance members who plan on joining the Metaverse Standards Forum, which will act as a constellation for the Web3 companies, coordinating the support and requirements for the pre-established standards and the standard protocols that are yet to be developed that will be relevant in the Metaverse.

Sebastian Borget, the co-founder of SAND, has talked about how they expect the virtual avatars to align with the real personalities of the users on the OMA3 platform. Further information on how the Open Metaverse Alliance platform will work for its users is yet to be revealed.

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