Hey OMA3,
We are excited to bring you the latest updates and groundbreaking developments from the NFT and blockchain world. This month, after all the hard work to define the important NFT royalties use cases, we are happy to announce the launch of our NFT Royalties Request for Proposals, aiming to protect creators and ensure they receive their rightful royalties. Our working groups are making remarkable progress, from finalizing the Inter World Portaling System protocol to preparing for a significant token generation event. We're also enhancing our governance by incorporating DAO elements to better reward member contributions. Our community is buzzing with exciting news, and we are seeing more interplatform collaborations, which is what OMA3’s vision is all about. Join us in welcoming new members to our ever-growing OMA3 family and discover how you can get involved in shaping the future of the open metaverse.
In Today’s Email
- The next NFT milestone: Request for Proposals is now live!
- Working group updates: Progress report on our 3 major initiatives
- Member rewards: Showing up is half of it
- Members news: The promise of interoperability becomes a reality
- New members: Announcing more members to the OMA3 community!
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NFT Royalties Request For Proposals
We have been busy defining the most pressing use cases addressing how NFT ownership is tracked and attributed, in the interest of protecting creators and the royalties due to them. We are now ready to do a formal call for proposals, and the OMA3 NFT RFP is ready for review! If you have a solution that helps creators collect on their royalties, join our working group calls and propose your technology. If you haven’t joined the NFT Working Group, you can give us a holler either here or in Slack. Our membership includes some of the most influential names in the NFT ecosystem including Animoca Brands, Yuga Labs, Magic Eden, Mintable, and X2Y2. That means big potential for widespread adoption, not to mention token rewards!
Beyond the typical buy/sell NFT transactions on marketplaces, we’re also looking for proposals that cover NFT fractionalization, lending, renting, and more. If you are not yet a member, sign up here while reduced pricing is in effect.
Working Group Updates
OMA3 has three active working groups and all of them are having an impact this year. Here’s the update.
- The Portaling and Mapping Working Group
- We have settled on a base protocol for IWPS (Inter World Portaling System) that supports teleportation between virtual worlds running different client applications, and even different devices. The last piece of the puzzle before we can release it for public comment is an identity framework. Our members in the identity industry are working hard on this now. We are targeting a public draft to solicit input from the greater community.
- Future extensions to IWPS will include payments and asset transfers. These will be integrated into the base protocol at a future date.
- The Token and Infrastructure Working Group
- We are currently in the process of choosing solutions and auditors for our fungible token generation event (TGE). Look out for more announcements as we select a winner..
- After TGE we will turn our attention back to evaluating infrastructure solutions to be the final home of our token architecture. See our token architecture RFP.
- The NFT Working Group
- As we highlighted above, our NFT Royalties RFP is public!
- We are already evaluating solutions for NFT Royalties in our working group meetings. If you haven’t participated yet, now is the time!
Member rewards 🏆
This section was published in the May newsletter but it is significant enough that we are including it again in this month’s newsletter:
OMA3 is a Web3 industry alliance, structured as a consortium. The consortium structure is one of the most proven mechanisms to enable industry collaboration, but consortia are only as good as the quality of member contributions. Encouraging, tracking, and rewarding member contributions has always been a challenge in any industry collaboration and consortia are no different. To solve this challenge, OMA3 is incorporating DAO elements into its governance.
Over the past few years Web3 projects have experimented using tokens to reward contribution or track reputation, expanding the utility of tokens beyond the more well-known use cases such as store of value and monetary transactions. OMA3’s token architecture builds on such projects to enhance the usefulness of tokens in the context of collaboration.
The main purpose of the OMA3 token architecture is to track the reputation and contributions of consortium members. Reputation is the most important metric in OMA3’s token architecture and reputation points can be earned by contributing to OMA3 in various ways. Reputation determines the privileges each member is granted by OMA3, including co-marketing, recognition, token allocations, and any other benefit OMA3 may decide to bestow in the future. One of the biggest drivers of reputation is OMA3’s bounty system. Members can use the OMA3 bounty system to propose work that needs to be accomplished by OMA3, and members can apply to do the work described by the bounty. Bounty award decisions are made initially by OMA3 leadership based on applicable member contributions. Over time bounty award decisions will be made through a more decentralized process such as public bounty proposals.
Currently, these are the paths to gain reputation points:
- Working Group Documentation Contributions
- New Member Referrals
- Press Placements
For more detail on the point system for each of these, please refer to the Open Bounties (members only) document. Each member is encouraged to propose new ways to contribute that may not be currently covered in this document. And if you are not an OMA3 member, we have extended our reduced membership fees to August so get off that couch and apply!
Member News
In the spirit of community-building (after all, the more the merrier), we include relevant news from our member community that support OMA3’s vision of a user-owned interoperable metaverse. This gives members an opportunity to make announcements to a new audience and to hear about what other members are doing. There’s more member news on our slack channel, and if you are a member and have not joined our channel, let us know and we’ll get you in.
- AnChain.AI is a leading web3 Security and Risk Management company whose AML engine screens over $1 billion in daily crypto transactions. They recently launched their newest course, "Fundamentals of DeFi" and they’re offering an exclusive 25% discount for OMA3 members. Use code: 2024OMA3
- Announcing the updated Liteflow Web3 tool suite, it now features comprehensive token and on-chain engagement solutions. These additions complement their NFT tools, enabling game studios to seamlessly create a complete Web3 product flywheel. Explore here for all the deets.
- Mintology, the B2B arm of Mintable, a leading NFT marketplace, provides NFT as a Service (NaaS) technology, helping businesses easily integrate and manage NFT strategies. They are enhancing adoption with Shopify and WordPress plugins, set to launch around October this year with Mintable V3 targeting to go live at the same time. This would be a valuable addition to the scope of the NFT Working Group (NFTWG), aligning with the functionality, usability, and security of NFTs.
- Launching in Q3 2024 ‘The Stigverse; is the first metaverse experience from BBC Studios and Top Gear, developed by Reality+. Utilizing the power of The Sandbox, they invite you to join them on an adventure to ‘Save The Stigverse’ from a chaotic, rag tag bunch of accidental The Stig clones known as The Gits.
- A match made in virtual heaven: Upland and The Sandbox announced a partnership to complement their OMA3's contributions to building the Open Metaverse. Both platforms have agreed to establish a mutual presence in each other’s virtual world, allowing their communities to explore and discover its in-game benefits and participate in content creation contests. The promise of interoperability becomes a reality. More info on MSN.
A growing family
The following companies have joined as Contributor Members since our last update. Let’s give them a hearty welcome to the community!
- Einhorn + Rakete AG
- Altura Gaming Co
- Propeller Industries
- VOYA Games
- PLAYTOEARN
- INTRAVERSE.IO
- Astra Nova
- Reality+
- XANA
- Lukas Huettis - NFT / Web3 Coaching
- ISG Metaverse
- Metagate
- Sonadia LLC
- 10ka
- Levy Business Development LLC
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Sincerely,
team
