If you’re familiar with the Metaverse, then no doubt that you would have heard of the leading blockchain-based platform creators such as The Sandbox, Decentraland, Upland, Animoca Brands, and Metametaverse, to name a few. These industry-leading brands have partnered up to launch Open Metaverse Alliance (OMA3) to push the evolution of the Metaverse in a direction that aligns with the main fundamentals of Web3. Its website states that OMA3 invites “all blockchain-based Metaverse companies to join.”
What Is OMA3?
OMA3 is a collaboration of creators who aim to ensure that virtual land, digital assets, ideas, and services are highly interoperable between platforms and transparent to all communities. Its purpose is to help those crossing from Web2 into Web3 and for the Metaverse to have a streamlined experience while avoiding any negatives. OMA3 strives to create an open Metaverse that is:
- Community run, decentralized and indexable.
- Without restraining walls, where individual platforms are interconnected and fully interoperable.
- Where users will be able to own and use their digital assets (e.g., NFTs), identity, and personal data without friction across multiple platforms.
- Where users are in control of their assets, not platform owners.
- Where ideas and services are based on the foundation of decentralization and interoperability to optimize for individual freedom, social, economic, and other sustainable outcomes
This contrasts with others’ beliefs, as many have said that they think the Metaverse should be closed off.
OMA3 is a Decentralized Autonomous Organization (DAO) that operates “like a consortium.” The governance is guided by inconclusiveness, transparency, and decentralization principles. The standards it creates are driven by actual ownership and real-time interoperability goals. It’s a fascinating concept; these brands have come together for the greater good, mass adoption!
Will It Work?
Unfortunately, it’s impossible to know. However, looking at the members, if anything is going to succeed in Web3 and the Metaverse, it will be this. Be sure to stay tuned to keep up to date.