SHOW ALL

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Animoca Brands uses DAO to make standards for the Metaverse

Animoca_Brands_uses_DAO_to_make_standards_for_the_Metaverse

The Open Metaverse Alliance for Web3 (OMA3) is a group of Web3 companies that are working together to make a metaverse that is open and has no borders. The group says that it wants to deal with important issues in the new metaverse, such as protecting user-owned information freedom.

Animoca Brands is working together on projects like Alien Worlds, Dapper Labs, Decentraland, Star Atlas, and The Sandbox. In addition to the Web3 projects that were once part of Animoca, the coalition also includes DAO framework developer Wivity, virtual reality and game developer Space, and blockchain gaming startup Upland.

The new blockchain-based organization was announced after another metaverse “association,” the Metaverse Standards Forum, was made public. This group was started by Microsoft, Meta (which used to be Facebook), Alibaba, and Sony. None of these companies are known for letting users keep or move their data freely between programs.

In a blog post, OMA3 said, “We believe in a metaverse with no limits, where all platforms are linked and can work together.”

The organization says that any blockchain-based metaverse businesses can join the alliance.

OMA3 says that this new DAO, which stands for “decentralized autonomous organization,” will work as a consortium based on the Web3 values of openness, participation, and decentralization.

A DAO is an online community that uses Web3 features to organize its members and share power. A cryptocurrency or token is often used by DAOs to motivate and control its members.

The organization says that the standards it makes are based on the goals of true ownership and being able to work together in real time.

OMA3 says it will build the alliance’s infrastructure to make sure the metaverse works as a single, unified system where digital assets, identities, and data can be shared without permission and are controlled by people, not platforms.

The group also says that users would own their assets and be able to move them to any OMA3 planet without getting permission from that platform.

Animoca Brands is a digital entertainment, blockchain, and gamification company. It created the SAND and REVV coins and published popular games like The Sandbox and Crazy Kings. Also mentioned are investments in Web3 giants OpenSea, Axie Infinity, Dapper Labs, Star Atlas, and Alien Worlds.

This month, the startup announced that Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, and other investors had given it $75 million to help it reach its goal of creating an open metaverse.

Yat Siu, co-founder and executive chairman of Animoca Brands, says that digital property rights show a generational shift that affects everyone online and will pave the way for the birth of the open metaverse. “We are very happy that investors continue to give us a lot of money as we work to strengthen Animoca Brands’ leading position in the Web3 market and the area of real digital ownership.”

SHARE:
Latest NFT News, Trendings and Tutorials, right in your inbox, every Monday

IMPORTANT DISCLAIMER: All content provided here in our website, hyperlinked sites, social media accounts and other platforms are for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them.

Recommended Posts

Leave a Reply

Your email address will not be published. Required fields are marked *