Building the United Metaverse and Web3: Somnia's Vision for Collaboration and Equity

Building the United Metaverse and Web3: Somnia’s Vision for Collaboration and Equity

Time Stamp: April 29, 2024 1:00 AM
  • Somnia identifies the fragmentation within the digital asset metaverse landscape, highlighting the need for a unified and interconnected virtual space.
  • Strategic partnerships and compatibility with the EVM ecosystem enable high-quality metaverse experiences and expand possibilities for developers and users.
  • It aims to shape the future of the metaverse by redefining digital experiences and enriching the virtual society for all.

Imagine a metaverse, once envisioned as a portable Disneyland, that transcends its current fragmented state and becomes a flawlessly interconnected, collaborative, and equitable virtual space. This is the potential Somnia saw, and despite the staggering $34 billion market cap, today’s digital asset metaverse landscape remains fragmented.

Numerous isolated platforms compete for users’ attention, raising a critical question: How can they create a unified metaverse that bridges these siloed worlds while fostering collaboration among creators and benefiting all participants? They believe it holds the key.

Somnia Quest for the United Metaverse of Web3

Its vision is to enable creators to build upon each other’s work, fostering a sense of collaboration and empowerment. However, it acknowledges the significant economic barriers.

Developing technology for multiplayer and interoperable experiences is expensive and time-consuming. Moreover, the reluctance to allow others to build upon a successful metaverse and infrastructural limitations impede progress toward an interconnected metaverse.

While a centralized solution might seem appealing, it cautions against misaligned incentives and unfavourable structures that inhibit value creation for participants. Instead, Somnia advocates for an open and decentralized approach, leveraging blockchain technology to overcome scalability challenges. It believes in this path, and we invite you to join us on this journey.

Somnia proposes solutions to support hundreds of thousands of transactions per second with sub-second finality. At its core is a layer-1 blockchain tailored to the metaverse’s unique needs. This network layer incorporates various components to ensure fast transaction speeds and low gas fees, addressing major pain points in existing infrastructure.

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A distinctive aspect of Somnia’s architecture is independent data chains. Each validator operates its blockchain, eliminating the need for a consensus mechanism within individual chains. Consensus is achieved through a modified HotStuff algorithm, decoupling data production from consensus processes and enhancing network efficiency.

Through EVM bytecode translation, compression, custom data ingestion layers, and cache-friendly Merkle trees, its architecture maximizes execution speed, bandwidth usage, and storage. Additionally, omni-chain protocols facilitate unrestricted commerce and accelerate the composability of metaverse experiences.

somnia-metaverse-blockchain
Somnia VR is an interactive, episodic narrative game created by Framestore VR Studio for Virtual Reality. [Photo/Medium]

Technical advancements aside, a thriving creator economy is essential for the metaverse’s success. Somnia introduces protocols like the ‘Object Protocol ‘, enabling the creation and portability of virtual objects across metaverse experiences.

The ‘Attestation Protocol’ verifies authenticity and ownership, while the forthcoming ‘Marketplace Protocol’ fosters liquidity for ‘NFTs ‘, or non-fungible tokens, unique digital assets that are becoming increasingly popular in the metaverse. These protocols open new revenue streams and community engagement opportunities for creators and investors.

The company aims to create a more equitable and sustainable metaverse economy by empowering creators to monetize their work and facilitating collaboration. It enables existing NFTs to be integrated into the metaverse, opening new revenue streams and community engagement opportunities.

While a centralized solution might seem appealing, Somnia warns of misaligned incentives and unfavourable structures that inhibit value creation for participants. Instead, it advocates for an open and decentralized approach, leveraging blockchain technology to overcome scalability challenges.

The VR company proposes solutions to support hundreds of thousands of transactions per second with sub-second finality. At its core is a layer-1 blockchain tailored to the metaverse’s unique needs. This network layer incorporates various components to ensure fast transaction speeds and low gas fees, addressing major pain points in existing infrastructure.

Technical advancements aside, a thriving creator economy is essential for the metaverse’s success. Somnia introduces protocols like the “Object Protocol,” enabling the creation and portability of virtual objects across metaverse experiences. The “Attestation Protocol” verifies authenticity and ownership, while the forthcoming “Marketplace Protocol” fosters liquidity for NFTs.

It will create a more equitable and sustainable metaverse economy by empowering creators to monetize their work and facilitating collaboration. It enables existing NFTs to be integrated into the metaverse, opening new revenue streams and community engagement opportunities.

Through partnerships with platforms like MSquared, Somnia facilitates high-quality metaverse experiences, from virtual concerts to MLB ballparks. Its compatibility with the ‘EVM ecosystem ‘, a decentralized application network that runs on the Ethereum blockchain, offers developers and users new possibilities, further expanding the scope of the metaverse.

Its approach represents a paradigm shift in metaverse development, prioritizing decentralization, interoperability, and creator empowerment. With its scalable and inclusive foundation, Somnia hopes to democratize access to the metaverse, making its advantages available to all users, not just the wealthy and well-connected.

This approach not only fosters a more equitable and sustainable metaverse economy but also paves the way for innovative digital experiences that are immersive, interconnected, and enriching for all.

As the metaverse continues evolving, it remains committed to its vision of a united virtual space built on openness, collaboration, and equity principles. Through continuous innovation and strategic partnerships, Somnia seeks to redefine the boundaries of what’s possible in the metaverse, ushering in a new era of digital experiences that are immersive, interconnected, and enriching for all.

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With its emphasis on empowering creators and its scalable, interoperable foundation, Somnia can significantly influence the metaverse’s future. It aims to create a virtual society that benefits all participants by fostering inclusivity, collaboration, and technological advancement.

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