Open Metaverse Alliance Launches Operations to Harmonize Web3.0

Open Metaverse Alliance for Web3.0 (OMA3), the metaverse interoperability DAO is officially launched and is giving out membership to both sponsors and creators.

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As announced on Tuesday in a web summit in Lisbon, OMA3 was launched with the aim of creating working forums in order to explore topics and legal problems associated with Web3.0. Similarly, the membership is also open to all web3 developers.

Previously, a collection of several metaverse platforms agreed to launch OMA3 in July.

Dapper Labs, The Sandbox, and Animoca Brands, amongst others, did everything possible to make sure infrastructures are built to ensure the metaverse operates solely as a unified system. Interestingly, they were able to achieve their goals with OMA3 opening up membership and pushing for an interoperable Web3.0 world.

Furthermore, the alliance will help bring together Web3.0 creators with the sole reason of creating quality standards. It will also create a push for an immersive future internet where individuals can interact using digital avatars in a decentralized manner.

Interest in the Metaverse Remains High

Although the prolonged crypto winter has affected activities in several sectors of the industry resulting in a decline in trading volume.

Users are still flocking to the metaverse world as an earlier report by TheCoinRise. While the sector recorded just $90 million in Q3, which represents a significant decrease in trading volume, interest and demand for the metaverse remain high according to the report.

Also, a number of venture capital firms have raised dedicated funds to finance promising startups in the subsector.

To this end, Lingfeng Innovation Fund (LIF), a new venture firm, recently secured $20 million in a fundraiser targeted at easing the transition of Web2 crypto startups to the Web3.0 ecosystem. Also, Uniswap Labs secured $165 million to invest in more apps and developer tools which is targeted at bringing Web 3.0 to everyone.

Google, an American multinational technology company, recently launched its Blockchain Node Engine (BNE) based on Google Cloud to help web 3.0 developers build and deploy new products on Blockchain-based platforms.

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