Robert Steinadler, 16 days ago
The metaverse is not exactly a single place in the digital space. It is rather a formation of ideas about how this place could look like, how each section could interact with another, and what type of experience each digital realm has to offer. Many companies, as well as open-source projects, are trying to define what the metaverse will look like.
What is the Open Metaverse Foundation, and how does it contribute to the metaverse as a whole?
The goal of the Open Metaverse Foundation (OMF) is to enhance the development of open standards for the metaverse by fostering communities of developers, thought leaders, engineers, and academics.
These standards are needed to bring a diverse industry together and provide a framework that allows every application and idea to grow. The foundation is organized into eight different interest groups each working on a specific topic or field: Users, transactions, digital assets, simulations and virtual worlds, artificial intelligence, networking, security and privacy, and legal and policy.
This reveals that the metaverse is indeed more than just NFTs and tokens. What is even more important is that digital assets have a place in the plans of the OMF. While crypto proponents and enthusiasts might take this for granted, it really isn’t. Many critics have claimed various reasons against blockchain technology and the inclusion of tokenized digital assets. Some of them like environmental concerns have been already addressed either by proof of stake or by establishing more sustainable mining sites.
With Meta pushing for a proprietary metaverse under the control of the company and its shareholders, it has become clear that a race has been started. Participants are heading toward the best solution that will drive mass adoption of the metaverse and make it a place that can grow and change the way we are going to use the internet.
That being said, it is important that open standards exist and that companies, as well as individuals, can rely on them without paying any cost. In fact, it was open-source technology that became the backbone of the internet that everybody is using today. It is not far-fetched to believe that the metaverse as a recreation needs the same attention.
Meta is burning billions of dollars to be the first company that has a working product to offer. If we take a close look at the track record of Facebook and its past conduct it might be better for the world if open-source once again sets the standards.
Jan 19, 2023
Decentraland has become a sort of industry benchmark for a specific category of tokens. Its digital realm is all about content creation, education, and games that cover almost every angle of the metaverse in its own way. This year has been particularly good for Decentraland, and the price has surged to a yearly high of about $0.76.
Jan 18, 2023
Floki Inu sure knows how to use branding and merchandise to please its army of Floki Vikings. This week, it launches a merch store, partnering with Binance Pay for payment integration. But it's not just the merch the developers are working on. Also, their Valhalla game has been improved.
Jan 18, 2023
ApeCoin is the currency of choice of the Bored Apes Yacht Club ecosystem, which includes the Otherside open metaverse. Not to be confused with the Bored Ape NFT's, investing in ApeCoin the currency is a bet on the ecosystem developed by parent company Yuga Labs, considered by some the Disney of the metaverse.
Oct 24, 2022
The metaverse is a place that is under constant development and not homogenous. It is a collection of several places rather than a single digital space. Meta is trying to transform social media into a metaverse-like experience, and many successful NFT collections have built their own version of the metaverse. Recently, an unlikely player entered the arena and presented itself as a new participant in Web3. Why is Interpol entering the metaverse, and do they need a search warrant to do so?