Linux opens a fund for the development of the metaverse

The Open Metaverse Foundation for Linux does it all, laying the groundwork for practical and powerful progress in co-creation of virtual worlds.

The Linux Foundation, a non-profit consortium of Linux developers, has created 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-neutral, 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 parts together. “While the challenges may seem daunting, I am inspired by the opportunities to partner with the global community to bring these pieces together as we bring this vision to life,” 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 for finding new ideas, getting work done and attracting new members. These include contributors from specific disciplines who are committed to promoting projects or scalable technologies within their theme, as well as ensuring that code ownership of each identifiable part of the projects (e.g., repository, subdirectory, API, test, issue, PR) is decided and managed.

The eight main 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 have been listed with a focus on the metaverse. In addition, Metaverse-focused ETF capital inflows totaled $2.6 billion between October 2021 and February 2022. Since then, however, the influx of money into exchange-traded funds has almost stopped.

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