Sandbox Maker 'Animoca Brands' Launches DAO to Develop Metaverse Interoperability Standards
Categories: Crypto News US
Sandbox Maker 'Animoca Brands' Launches DAO to Develop Metaverse Interoperability Standards
Animoca Brands this week formed an alliance with other leading Web3 companies to form a new decentralized autonomous organization (DAO) to prioritize asset ownership capabilities of users. The company behind the smash hit Metaverse game 'The Sandbox' has teamed up with several blockchain-based Metaverse creators to establish the Open Metaverse Alliance for the Web 3 (OMA3).
The DAO has so far included popular names including Alien Worlds, Splinterlands, Dapper Labs, Upland, Star Atlas and, most notably, Decentraland. However, Animoca is looking to invite several other creators on board. The finer details of how this new DAO will work, such as governance rules and voting power allocation, have not yet been revealed.
However, it has been said that the main goal of OMA3 is to solve the major challenges of the Metaverse, such as the protection of the freedom of information owned by users: this alliance would appear to be a competition to the 'Metaverse Standards Forum' (MSF), which is a part of the Metaverse Standards Forum (MSF). was announced at the beginning of the week.
Founded by big names in tech like Microsoft, Meta, Sony, and Alibaba, all of MSF's companies are known for restricting the use of user information and creating barriers when it comes to transfers. OMA3 will be set to develop its infrastructure to ensure that the metaverse operates as an integrated system where digital assets and data are controlled by users, not platforms.
Users of this infrastructure will own their assets and should be able to freely move them around the OMA3 world without requiring permission from the platform. Animoca's Recent Movements 'Bee Media', an Australian digital marketing agency, sold a major part of its company to Animoca Brands in April 2022. The purchase of Animoca is believed to be part of its foray into Australia, as it hopes to add more companies to Web3.