Meta, Microsoft, and Others Launch Metaverse Standards Group
Meta, Microsoft, and 31 more companies have united to form an organization to promote the creation of open standards regarding metaverse tech. The institution, named the Metaverse Standards Forum, will focus on establish...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Meta, Microsoft, and 31 more companies have united to form an organization to promote the creation of open standards regarding metaverse tech. The institution, named the Metaverse Standards Forum, will focus on establishing standards to make each one of the metaverses on the internet interoperable, which would ideally permit these worlds to communicate.
The Metaverse Standard Forum Is BornWhile the metaverse is a loose concept that each company interprets and builds according to its own will, some think it is important to connect these individual worlds. This is why Meta, Microsoft, and other companies like Epic games, have gathered together to found the Metaverse Standards Forum, an organization created to promote the interoperability of these metaverses.
According to the launch PR statement:
[The body] will focus on pragmatic, action-based projects such as implementation prototyping, hackathons, plugfests, and open-source tooling to accelerate the testing and adoption of metaverse standards, while also developing consistent terminology and deployment guidelines.
The forum will not create standards by itself. The organization will act as a hub for the amalgamation of different Standards Developing Organizations (SDOs) in fields including VR, graphics, and interactions, among others.
The creation of such a group is seen by some as a statement about the consensus in these companies on the importance of creating open standards for the metaverse concept. About this, Neil Trevett, president of Khronos, an organization that is part of the group, stated:
The metaverse will bring together diverse technologies, requiring a constellation of interoperability standards, created and maintained by many standards organizations.
Some Important AbsencesWhile the group states that it is an open organization, available for all interested groups free of charge, there are some big names that have not appeared in the group. Apple, one of the biggest tech companies in the world with an interest in VR and AR (augmented reality) technology, has still not joined the forum. Other significant gaming-based metaverses, like Roblox, have yet to join.
According to some experts, this shows that even with an organization promoting standards on the subject, the standardization of the metaverse, or the group of worlds composing the metaverse, will be a tough task given the diversity of companies that are building platforms oriented towards it.
What do you think about the creation of the first standardization group for the metaverse? Tell us in the comments section below.
Why this matters
This cryptocurrency story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on Bitcoin NewsRelated market context
AI Tops Fed Survey of Financial Risks—Why Crypto Investors Should Pay Attention
AI has become the most frequently cited financial-stability risk in a survey published with the Federal Reserve’s latest report, b...
MSCI Cuts Strategy From Global Indexes, Putting Bitcoin Treasury Model Under Pressure
Key Takeaways: Under new classification rules instituted by MSCI, Strategy will be phased out of the global equity index. The chan...
Meta Tests Prediction App as DOJ Moves on $1.2 Billion in Binance Hack Funds
Meta is testing a points-based prediction app called Takes as Kalshi and Polymarket face lawsuits, while the DOJ won approval to s...
Meta Tests Prediction-Market App as DOJ Moves to Seize $1.2 Billion From Binance Hack
Meta internally tests Takes, a points-based prediction-market app, as the DOJ wins approval to seize $1.2 billion from the $6 bill...
Meta Tests Prediction Markets, DOJ Moves on $1.2 Billion in Binance Hack Funds, and Ancient Bitcoin Stirs
Meta tests a points-based prediction-market app, the DOJ moves to seize $1.2 billion from the Binance hack, and 16-year dormant Bi...
Aave plan could cut some lenders’ share of interest by 60%
TokenLogic’s proposed interest split would hit some stablecoin lenders harder, while a major Plasma revenue component remains cond...