Virtual Society Foundation Launches to Shape the Metaverse

Virtual Society Foundation Launches to Shape the Metaverse

Time Stamp: March 30, 2024 5:30 AM
Source Node: 2530486

With the support of Improbable, the Virtual Society Foundation seeks to accelerate the mass adoption of the metaverse.

The Virtual Society Foundation (VSF) has announced its official launch today, signaling a significant turning point in the development of the digital landscape. The foundation has plans to create an open, unified metaverse using state-of-the-art blockchain technology.

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Founded by the British start-up Improbable, which has been leading the way in the creation of virtual worlds for more than ten years, VSF is an independent organization. An ecosystem of interoperable metaverses called MSquared has provided VSF with initial funding. The foundation’s goal of realizing an accessible, community-driven metaverse network is in line with Improbable and MSquared’s vision.

Launching the Virtual Society Foundation

Paul Thomas, the founder of VSF, stressed the collaborative and inclusive nature of the foundation’s mission in a statement announcing the foundation’s launch. He said that the coming decade will witness a profound transformation in online interaction and creation. Also, he said they see this as a joint venture, owned by everyone, as opposed to being under the thumb of a few large corporations.

A diverse community of creators must work together to build an open metaverse network; this cannot be done as a private endeavor run by a select few stakeholders. To ensure that the development of this new paradigm remains inclusive and transparent, VSF was founded as an independent nonprofit with support from Improbable, MSquared, and other key partners.

Somnia Network, the flagship project of VSF, is an important step towards the creation of a single metaverse. Somnia Network, an L1 blockchain and omnichain protocol suite, aims to bring disparate metaverse experiences together under one roof. The impending launch of Betanet and Somnia Network marks the start of a revolutionary journey towards decentralization and accessibility for all. 

Collaborators

A16z crypto, SoftBank, Mirana Venture, CMT Digital, and SIG were among the notable investors who contributed $150 million to Improbable in 2022 so that the company could launch MSquared, a network of interconnected metaverses driven by its Morpheus technology. Morpheus has made it easier for people to interact socially in virtual spaces at high densities and has assisted big brands in developing highly engaging and interactive metaverse experiences.

Tens of thousands of users can enjoy joint massive social experiences powered by MSquared, such as concerts featuring K-pop artists like TWICE and an official virtual ballpark with Major League Baseball (MLB) in the US.

The Virtual Society Foundation envisions an open, interconnected metaverse ecosystem as a platform for a thriving creator economy, and it is working towards that goal. This vision is supported by a dedication to creating global standards that enable the smooth interoperability of digital and cryptocurrency assets, including avatars, across a variety of metaverse experiences. This project ushers in a new era of digital creativity and interaction while also promising an improved user experience and several opportunities for creative people.

The Foundation is dedicated to investigating and creating blockchain technology and protocols that support an open, interoperable network of metaverses to fulfill its mission, funding initiatives to develop the metaverse ecosystem, working with foundations and other like-minded groups to create open standards for the metaverse, and pushing for the general use of metaverse technology.

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