Hey OMA3,
Wow, we got some exciting news this month. There are multiple ways to get some funding. We are full speed on our upcoming airdrop, and we are being completely transparent about how you can participate and contribute to our rewards program. And if you’re interested in participating in the Alien Worlds ecosystem, there’s some funding to the tune of $50k waiting for you.
In Today’s Email
- About to dive from the plane: Prepping for our airdrop
- How to earn tokens: Ways to get rewarded
- Working group updates: Progress report on our 3 major initiatives
- Members news: Who wants $50k?
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Prepping For Our Airdrop
OMA3 plans to launch its token early summer to a) start the clock on the 12 month lockup and b) give us more time to build infrastructure around the token. As a reminder, participation in the OMA3 token rewards program is completely optional.
We voted to mint the OMA3 ERC-20 token on Ethereum on May 2 for several reasons as outlined in the members-only infrastructure brief. If you know any developers that can help us with the implementation please reach out to the Token Infrastructure Working Group (TIWG) co-chairs Jerry Lau, Mohamed Ezeldin, and Riccardo Sibani. We also encourage everyone to attend our bi-weekly TIWG meetings to help us with the implementation details. If you are not a member and would like to be part of the conversation, please sign up here.
OMA3’s token strategy is the first of its kind and couldn’t come at a better time given dissatisfaction with recent highly anticipated airdrops and the recent dominance of meme coins. It has several characteristics that differentiate it from current airdrop practices:
- Transparency- OMA3’s point system is completely transparent and every OMA3 member knows exactly what it takes to earn more points and how these points translate into tokens (see below).
- Worldwide- OMA3 members are distributed across the globe, including the United States and other opaque jurisdictions. OMA3 is distributing tokens to all members, including jurisdictions that recent airdrops have banned.
- Compliant- OMA3 is a Swiss association and thus adheres to Swiss FINMA regulations. We also do our best to comply with the jurisdictions of our members. It is not easy but it is the only way to achieve our worldwide interoperability goals.
- Fair- partly to comply with said jurisdiction regulations, OMA3 tokens will be locked for a year upon initial distribution and released linearly over years once the 1 year “cliff” is reached. This ensures tokens are not released to the market all at once.
Besides the lockup, there are other limitations. You have to be a member to receive the first token distribution and you have to be an organization to be a member. Here is further reading on this history-making rewards program:
How to Earn Tokens
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 exhaustive 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. If you are not a member and would like to contribute, please sign up here.
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
- Working on a specification extension enabling teleportation of avatars between applications on different devices.
- Starting to integrate a security architecture to ensure the “original sins” of the internet don’t find their way to the metaverse.
- The Token and Infrastructure Working Group
- Evaluating tools and solutions that will help us launch our initial token architecture on Ethereum.
- Continuing to evaluate innovative infrastructure solutions to put in place to augment the initial token architecture. See our RFP.
- Recruiting security companies to ensure there are no issues with the launch and beyond.
- The NFT Working Group
- Finished developing use cases with the Metaverse Standards Forum.
- Working on a NFT Royalties RFP that will be released to the public in the near future. Lookout for it!
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 signed up, let us know and we’ll get you in.
- Up to 💵$50,000 Grants for Alien Worlds Expansion! Are you a game developer looking to expand into the Alien Worlds metaverse? Galactic Hubs is offering a grant of up to $50,000 to integrate your game into our ecosystem. Connect with an eager, lore-rich community, monetize through Trilium rewards, and secure a spot in the Alien Worlds Arena. This initiative aligns with OMA3's vision of promoting decentralization and interoperability, empowering users to control their assets without reliance on platform owners. It's your chance to bring your game to a new audience. Apply now to find your game's new home!
- Realio is in the process of building a virtual world, Districts by Realio. The official name of the company and project would be Districts. They wrote an in-depth ebook about metaverses/virtual worlds that might be a great educational piece for those interested in real estate in virtual worlds.
- Unstoppable Domains and Unstoppable Women of Web3 and AI partner with Women In Tech Global to introduce WITG domains! We're pioneering the first women's group with its own naming service. Chat, earn badges, create a profile, experiment with blockchain and AI tech. Use your digital identity in the Sandbox metaverse HQ for WITG and 500+ other apps and metaverse.
- Africarare Ubuntuland: Get ready for an adventure in Ubuntuland. The Quest for the Kito Jewels kicked off this Monday 13th May in Ubuntuland. Join our community Raffle Adventure and dive into a thrilling hunt for hidden treasures and uncover the riches.
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Sincerely,
team
