Saturday, December 10

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.

Read Also: Shiba Inu Holders Now Hit a Record-Breaking Milestone Of Over 1.2 Million And Seems William Volk Sees Something coming To Shiba Inu

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.” 

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