Despite the maturation of the Web3 landscape, the metaverse segment remains fragmented, making it hard for users and creators to collaborate. As a result, the accrued value goes to metaverse holders rather than creators.
Somnia network kicks off as metaverse-centric infrastructure ecosystem
The Virtual Society Foundation (VSF) unveiled the details of the launch of the Somnia project, an L1 blockchain and set of omnichain protocols that will connect the metaverse into a unified virtual society that can support experiences for tens of millions of users.
Somnia's new blockchain represents a fully EVM-compatible, metaverse-optimized decentralized network with smart contracts. In early prototypes it has shown 100,000’s of transactions per second with sub-second finality.
Somnia provides a protocol that creators can use to build worlds and enables assets, commerce and avatars to move effortlessly across different experiences. Somnia is inspired by the research of industry-leading partners like Improbable, which have developed innovative technologies like MSquared Origin.
Somnia founder Paul Thomas stresses the importance of the new L1 hub's launch for the progress of metaverse developments in Web3:
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 protocols allow existing NFT collections to be upgraded and rendered as interoperable 3D objects that are compatible with metaverse experiences on the network, enhancing their value. Somnia’s Protocols have the potential to capture a large chunk of the total TVL from the blockchain gaming, metaverse and NFT sectors, which combined approaches 100 billion dollars and is expected to grow significantly in the coming years.
Betanet protocol to host metaverse events for up to 10,000 attendees
Somnia's launch is expected to change the game in the creator economy, with a network designed to incentivize builders to share and remix content.
Value will be shared across all participants in the ecosystem, and everyone will have a voice. This is the start of a real virtual society where a new creator economy can thrive.
Somnia’s upcoming protocol, Betanet, will be integrated into MSquared’s experience engine, Origin. This will allow events for 10,000 participants across the music, sport and gaming experiences. Somnia’s Betanet will allow users to create interoperable avatars and establish their identity in the metaverse thanks to a collaboration with Avaturn.
Alex Dovbnya
Denys Serhiichuk
Gamza Khanzadaev
