Blockchain-based Metaverse And Web3 Platforms To Form An Open Alliance For Web3 To Settle Interoperability Issues
In an attempt to overcome the issue of interoperability in the industry, the blockchain-based metaverse and web3 platforms have come to a common point to form an Open Metaverse Alliance for Web3 (OMA3). The alliance is said to have four fundamental principles which include:
- Transparency
- Inclusiveness
- Decentralization
- Democratization
Open Metaverse Alliance for Web3 will be founded as a DAO, Decentralized Autonomous Organization to aid a governance system that is “transparent and user-centric.” It will aim its efforts on specific metaverse-related topics, such as standards for non-fungible tokens (NFTs), protocols, transferable identity, portals between virtual worlds, mapping, and indexing.
Read Also: Ripple User, Airwallex To Launch Its Online Payment App on Shopify.
A digital avatar was cited as an example by the co-founder of Sandbox, Sebastian Borget;
“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.”
Cryptolifedigital is a cryptocurrency blogger and analyst known for providing insightful analysis and commentary on the ever-changing digital currency landscape. With a keen eye for market trends and a deep understanding of blockchain technology, Cryptolifedigital helps readers navigate the complexities of the crypto world, making informed investment decisions. Whether you’re a seasoned investor or just starting out, Cryptolifedigital’s analysis offers valuable insights into the world of cryptocurrency.
