Today leading Web3 metaverse companies, including Animoca Brands, Decentraland, The Sandbox, Upland, Dapper Labs and Alien Worlds, announced the Open Metaverse Alliance for Web3 (“OMA3” for short). We are tremendously excited to guide this effort and applaud the vision of these companies.
When we work with companies we usually need to convince them that a Standards DAO (decentralized autonomous organization) is the most effective way to achieve mass adoption for Web3 infrastructure projects. Common concerns are:
- Consortiums are time consuming and inefficient
- DAO governance is still an experiment
- Decentralized governance leads to loss of control
Leaders of OMA3 need no such convincing. They already understand the value of collaborative standardization to get the best technical outcome and the need for DAO mechanics to reward contributions. They were already working in this direction when we got involved. This makes our job easy- understand the goals and provide recommendations based on our experience with consortiums.
Today’s announcement is just the first step- inviting the rest of the industry to join our effort in creating a transparent, interoperable, and user-centric metaverse. Next steps include structuring the governance, incorporating the DAO, interfacing with related standardization efforts, creating efficient yet inclusive processes, and working on a long list of standardization tasks. If any of these steps is done poorly the concerns mentioned above will be validated. We are confident this group can execute for the benefit of the industry and ultimately the end consumer.