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A new metaverse alliance: the founder of Sandbox speaks with Investing.com

Global Nov 09, 2022 04:04
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By Alessandro Albano and Francesco Casarella

Investing.com - It's called OMA3. The Association, born in Zurich, includes among its core members some of the biggest and most innovative names in the crypto and metaverse industry, such as Animoca Brands, Alien Worlds, Dapper Labs, MetaMetaverse, SPACE Metaverse, SuperWorld, The Sandbox, Upland, Voxels, Unstoppable Domains, and Wivity.

During the Lisbon Web Summit 2022, we got to hear directly from Sandbox's co-founder and COO (Sebastian Borget) about the Metaverse, the collaborations that are emerging, and how he sees this very innovative and special world.

An Inclusive Web3

Per Borget, "An association was born to create an inclusive Metaverse. It's called OMA3, and its aim is to create technical standards within the Metaverse. As of today the Metaverse is still very fragmented, with several different projects, and we had the idea to give users a voice by uniting several realities that can have one voice."

Borget went on to say, "Inside the "Open" Metaverse, digital assets move freely between OMA3 virtual worlds, enjoying greater security and better traceability of assets between worlds. By creating shared standards, users can carry digital objects they own from one metaverse to another, resulting in a universe of interconnected virtual worlds that prioritizes user experience and ownership over platform dominance and possible censorship."

Borget described how the metaverse is not just a representation of simply transporting one's assets from one world to another, but also a way of not losing one's memories, history, and nature when moving from one world to another.

Sandbox is organized in 4 groups:

  • The first group deals with transferring assets (NFTs, identities, accounts) between different Metaverses (creating transfer standards that require different technologies)
  • The second group deals with portals and mapping, trying to develop solutions that allow the creation of round-trip portals to move between worlds
  • The third group will be legal in nature, dealing with data protection, GDPR, and more generally all regulatory issues of environments
  • The fourth group will be related to the ecosystem in general, responsible for the relationship between partners and all issues of a relational nature

The success of this new alliance will be measured in 2 ways, the first on the technical papers published and made available online and the second is related to the number of users and companies that will use it, such as the number of avatars that will move between worlds for example.

Along with this discussion, Meta Platforms' (NASDAQ:META) current struggles came up, as the tech leader has performed very poorly over the past year, coinciding with its shift to build out a Metaverse business (the stock has dropped almost 70 percent from its highs), as well as how OMA3 plans to overcome this "winter in the metaverse" by taking advantage of new technologies...

Sarojini McKenna, CEO and Co-founder of Dacoco responded:

"We are trying to define together a new category, a new technology, and users are experimenting with a new way of interacting with the Internet and other users inside the metaverse. I think it will be interesting for users to test this new way of interacting with content where users will be co-owners and entrepreneurs, and users are reacting very well by creating their own assets, games, we have tried this too and it is a winning model the mix between identity and content."

A new metaverse alliance: the founder of Sandbox speaks with Investing.com
 

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