Linux's Open Metaverse Foundation lays the groundwork for practical and powerful progress in co-creation of virtual worlds
The Linux Foundation, a non-profit Linux development consortium, has established a new subsidiary, the Open Metaverse Foundation (OMF). This was reported on the website of the organization.
The Foundation will become a clearing house for cross-industry collaboration developing open source software and standards for a vendor-independent, global and integrative metaverse.
As OMF Executive Director Royal O'Brien said, communities and foundations in the open source environment are working on “important pieces of the iterative puzzle” of the metaverse.. The new foundation wants to help bring these separate pieces together.
“While the challenges may seem intimidating, I am inspired by the opportunities to partner with the global community to bring these pieces together as we turn this vision into reality,” O'Brien said.
The Open Metaverse Foundation is organized into Interest Groups (FIGs) that provide a focused, distributed decision-making structure around key topics. In addition, FIG provides dedicated resources and forums to discover new ideas, get work done and attract new members..
They include contributors from specific disciplines committed to promoting projects or scalable technologies within their theme, and ensuring that code ownership of each identifiable part of projects (e.g. GitHub.org, repository, subdirectory, API, test, issue, PR) is solved and managed. The eight major interest groups of the OMF consist of users, transactions, digital assets, simulation and virtual worlds, artificial intelligence, network, security and privacy, law and policy.
Many leading open source organizations and communities have joined as founding members to support efforts to bring this vision to life.. These include, but are not limited to, ChainHub Foundation, Cloud Native Computing Foundation, Futurewei, GenXP, Guangdong Digital Industry Research Institute, Hyperledger Foundation, LF Edge, LF Networking, OpenSDV, Open Voice Network, and Veriken.
Last year, the metaverse became the most popular concept in the history of exchange-traded funds (ETFs). In just a year and a half, 35 ETFs were registered with a focus on the metaverse. Additionally, Metaverse-focused ETF capital inflows totaled $2.6 billion between October 2021 and February 2022.. Since then, however, the flow of money into exchange-traded funds has almost stopped.
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