OVR Empowering Metaverses Interoperability

August 18, 2021

TLDR: OVR enabling metaverses interoperability through NFTs. Directly use permissionless assets such as Sandbox contents, Crypto Punks, and many others on the OVR Builder.

NFTs allowed for uniqueness and real ownership of natively digital assets; digital content that once was impossible to monetize because of its costless and infinite perfect replicability has become valuable and tradable thanks to the ERC-721 standard. An example is the Nyant Cat gif, created ten years ago, visualized millions of times but sold only in April 2021 for $590,000 thanks to the NFT standard. 

But uniqueness, real ownership, and free transferability of NFTs are not all of the innovation connected to the standard; there’s a less known yet groundbreaking externality of NFTs that can open a whole new world of interoperability between the Blockchain-Enabled Metaverses: Availability of Digital Assets linked to NFTs. 

Establishing uniqueness and ownership of a digital asset through NFTs also allowed for maximal availability of the asset itself, ownership does not need to be enforced by obfuscation anymore, possession of the original is not granted by the exclusive posses of a file – the high quality or un-watermarked version of the 2D image for example – but through the control of private keys of the address owning the NFT. That means that in order to maintain ownership of a maximally reproducible asset such as a digital file, you don’t need to hide it anymore; you can share it with the world while maintaining ownership of the original version. For example, you can easily download from IPFS the high quality version of “Everyday: The First 5000 Days”, the work of art from Beeple that was sold for $69 Mln. Such a permissionless availability of Beeple’s work of art does not take away not even a penny from the value of his art.

But what does all of this has to do with Metaverses? Blockchain-enabled Metaverses use NFTs to establish ownership of their native assets. Like in the former example with works of art, NFTs enable maximal availability of the underlying assets, allowing those assets to break out from their native ecosystem where those were traditionally confined. You cannot use Forthnite avatars on other VR games, but you can easily bring Sandbox 3D assets on OVR and anchor those on your OVRLands! But that is just an example; potentially, any NFT can be ported to OVR and visualized in AR for VR; if you own an NFT in your crypto wallet, you’ll be able to use the underlying 2D/3D asset on the OVR Builder or visualize it in AR wherever you are. Imagine creating a VR or AR art gallery for your Art NFTs, showcasing your Crypto Punks on a specific geographical location (OVRLand), dressing your avatar in ASICS shoes NFTs or Dolce&Gabbana wearable NFTs creating geo-localized treasure hunt games with your Axies… imagination it’s the only limit. DeFi Dapps are often dubbed as “Money Legos,” and a significant part of DeFi success is due to the non-zero-sum game of those Dapps inter-operating with each other; Metaverses interoperability will enable there same magnitude of network effects.

OVR’s vision is to become the decentralized platform for the Spatial Web and the “home” of NFTs, a maximally interoperable ecosystem welcoming all of the available contents enabled by NFTs in the Metaverses.