blockchainreporter.net
The Virtual Society Foundation (VSF) has marked a significant milestone in the evolution of the Metaverse with the introduction of the Somnia project. This groundbreaking initiative features an L1 blockchain and a suite of omnichain protocols aimed at unifying the fragmented Metaverse landscape to support experiences for millions of users. The current blockchain infrastructure falls short of supporting millions of transactions with the required speed and affordability to sustain a virtual society.
The Metaverse has long been disjointed, posing challenges for users and creators to collaborate effectively. Consequently, the majority of the accrued value has been channeled towards the Metaverse holders rather than the creators themselves. Somnia’s Blockchain, developed by the Virtual Society Foundation—an independent organization launched by Improbable—is EVM-based and specifically optimized for the Metaverse. Early prototypes have demonstrated the capability to handle hundreds of thousands of transactions per second with sub-second finality.
Somnia offers a revolutionary protocol empowering creators to construct virtual worlds and facilitating the seamless movement of assets, commerce, and avatars across diverse experiences. The project draws inspiration from the pioneering work of industry leaders like Improbable, known for their innovative technologies such as MSquared Origin.
One of the standout features of Somnia is its ability to upgrade existing NFT collections into interoperable 3D objects compatible with the network’s Metaverse experiences. This enhancement significantly augments the value of these NFTs. Given the explosive growth of the blockchain gaming, Metaverse, and NFT sectors—which collectively approach a valuation of $100 billion and are projected to expand substantially in the forthcoming years—Somnia’s protocols are poised to capture a substantial portion of the total TVL.
Paul Thomas, the Founder of Somnia, expressed his enthusiasm about the project, stating, “The launch of Somnia is not just a massive step for the Metaverse, but it’s also a game changer for blockchain technology as well. Most blockchains are great for finance, and we have seen great innovations in DeFi, but scaling limitations have prevented more social and creative ventures from taking off. The protocols we are releasing will also enable the vision of a connected and composable Metaverse which I hope will bring new community collaboration across the space.”
Somnia’s Unified Blockchain Infrastructure
The introduction of Somnia is set to catalyze a new creator economy, characterized by a network incentivizing builders to share and remix content. Avatars and objects will be tradeable across any blockchain, ensuring equitable distribution of value throughout the ecosystem and granting a voice to all participants. This initiative heralds the advent of a genuine virtual society where a flourishing creator economy can emerge.
Somnia’s forthcoming protocol, Betanet, will be seamlessly integrated into MSquared’s experience engine, Origin. This integration will enable events to accommodate tens of thousands of participants across various domains, including music, sports, and gaming experiences. Collaborating with Avaturn, Somnia’s Betanet will empower users to create interoperable avatars, establishing their unique identity within the Metaverse.
Users equipped with these avatars will have the opportunity to immerse themselves in expansive events and immersive experiences. Notably, Improbable and MSquared have previously orchestrated monumental Metaverse events, such as an official virtual ballpark in partnership with MLB and a Kpop album launch featuring TWICE.
Overall, Somnia is pioneering the development of a virtual society through its L1 blockchain and omnichain protocols, fostering an open and unified Metaverse that facilitates seamless user navigation across diverse experiences. The platform unleashes boundless opportunities for creators to generate portable and remixable content by enhancing existing NFTs.
The Virtual Society Foundation, an independent organization with a mission to shape the future of the Metaverse, envisions a unified and open virtual society. Committed to establishing the standards, protocols, and infrastructure essential for seamless interoperability across various virtual worlds, VSF stands at the forefront of the Metaverse revolution.