Animoca Brands Launches DAO to Develop Metaverse Standards

Alliances of Web3 companies have come together to build an open, borderless metaverse called the OMA3 or Web3 Open Metaverse Alliance. The group states that it aims to solve key challenges in the early Metaverse, including maintaining the freedom of information owned by users.

Projects participating in the partnership with Animoca Brands include Alien Worlds, Dapper Labs, Decentraland, Star Atlas and The Sandbox. In addition to the Web3 projects already linked to Animoca, this alliance includes DAO framework developer Wivity, virtual reality and game developer Space, and blockchain game company Upland.

The announcement of a new blockchain-based organization Metaverse Standard Forum.. Founding members of this group include Microsoft, Meta (formerly Facebook), Alibaba and Sony. These companies are not known to allow users to freely hold data between applications.

OMA3 aims to take a different approach.

“We believe in a wall-free metaverse where individual platforms are interconnected and fully interoperable,” says OMA3. blog Position.

The group states that it has invited all blockchain-based Metaverse companies to join the alliance.

according to OMA3Well known as DAO, this new Decentralized Autonomous Organization acts as a consortium based on the principles of inclusiveness, transparency, and Web3.

A DAO Is essentially an online community that uses Web3 tools to organize and spread control among its members. DAOs often use cryptocurrencies or tokens to incentivize members and manage decision making.

“The standards we create are guided by the goals of true ownership and real-time interoperability,” says the group.

OMA3 states that it will build the Alliance’s infrastructure to ensure that Metaverse operates as an integrated system where digital assets, identities, and data are not allowed and are controlled by the user rather than the platform.

The group also claims that users own their assets and are free to transfer them to any OMA3 world without the permission of their individual platforms.

Animoka brand Is a digital entertainment, blockchain, and gamification company that creates SAND and REVV tokens and publishes popular games such as The Sandbox and Crazy Kings. It also advertises investments in Web3 giants OpenSea, Axie Infinity, Dapper Labs, Star Atlas and Alien Worlds.

Earlier this month, the company announced that it would raise $ 75 million for its vision of the Open Metaverse with investments from Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures and others.

“Digital property rights represent a society-defining alternation of generations that affects everyone online and sets the stage for the emergence of the open metaverse,” said Animoca Brands co-founder and executive chairman. Yat Siu said in a statement. “We are very honored to continue to enjoy the strong support of our investors to solidify Animoca Brands’ leadership position in the Web3 industry and in the area of ​​true digital ownership.”