Web3 development faces scalability and interoperability challenges, especially for real-time applications like Gaming, Metaverse and Social Media. Scalability involves hosting more users while maintaining quality. Interoperability ensures platform compatibility for seamless experiences and creator choice. Somnia envisions a capable and connected Virtual Society filled with rich experiences and valuable virtual objects, where the economy is decentralized enough for people to build real companies, so the entire ecosystem is not dependent on one mega corporation.
Blockchain is a perfect technology for building the economy of the Virtual Society. Still, until now, no blockchain was equipped to handle the challenge because they have all been optimized for finance. The applications that power the Virtual Society, like games, metaverses and social media, require a level of scale and affordability that has not been possible in Web3. For these applications to work at scale, millions of people need to be able to make transactions and use digital assets during real-time shared experiences. We also envision a world where the logic of objects moves on-chain, allowing for interoperable and composable content, which would also require an extremely high-performant blockchain.
Today, the on-chain ecosystem is divided into separate and incompatible worlds, with users stuck in closed environments. This limits the creator economy by restricting the ability of creators to fully explore their innovations, monetize their work, and add utility to their NFTs and Web3 game assets. This segmentation degrades the user experience, hindering the overall growth and potential of the Virtual Society.
We believe the Virtual Society should not be dominated by any single entity but rather collectively owned and governed by its community of users and creators. Somnia’s interoperable and expansive environment encourages and rewards innovative use of content like composing and remixing content, including existing NFTs and web3 assets, opening up endless possibilities for the extended ecosystem. Somnia can unify the $100 billion value split between blockchain gaming, metaverse, social and NFT sectors into one Virtual Society.