philip lelyveld The world of entertainment technology

Hot Button Discussion: The Interoperable NFT Asset Concept

... The first is an organization called the Open Metaverse Alliance, which is a collaboration of Web3 Metaverse platform creators.  ...

The second organization is the Metaverse Standards Forum, which Lesh is involved with. That group, according to Lesh, is taking the approach of “first creating an outline or even a sort of draft of a standard, and then they want to work with an existing standards body, like a SMPTE, to formally publish the standard when it is ready. In other words, they would be part of a larger process.” ...

“I would hope that while maybe a year would be a bit optimistic, that maybe within two years, there will be some kind of standard for interoperable NFT game assets,” he says. “It will be a very early version 1.0, but once that happens, then it will start iterating and continue to get better and better, like any other standard. I don’t know how many companies will adopt it widely—some may resist. But in the end, if you look at a smaller group of companies out there, there may be a competitive advantage to maybe 20 of them grouping together as they build games, to allow assets to travel between them, which could attract players. Maybe that would be a competitive way for smaller game designers and companies to actually create an offering that is competitive with larger ones. ...

See the full story here: https://www.smpte.org/blog/hot-button-discussion-the-interoperable-nft-asset-concept