Reported by The Block: Lamina1, the metaverse project co-founded by Neal Stephenson, is merging with the South Korean web3 firm Another World.
The move comes after Lamina1’s parent company Open Metaverse Limited acquired Another World in “an all token deal.”
Lamina1, the metaverse project founded by "Snow Crash" author Neal Stephenson announced Wednesday it is merging with Another World.
Another World, a South Korean metaverse project originally built on the Kaia blockchain in 2022, will become part of the Lamina1 ecosystem. Lamina1's parent company Open Metaverse Limited acquired Another World in "an all token deal," according to a statement.
In the coming weeks, Lamina1 said it plans to migrate "Another World’s community of over 500,000 token holders, investors, metaverse builders, developers and enthusiasts into the L1 ecosystem via token exchanges and targeted onboarding designed to activate their community," according to a blog post. Another World staff will join Lamina1 in an effort to "build out the Lamina1 Hub platform," the post said.
Rebecca Barkin became CEO of Lamina1 in early 2023. Besides Stephenson, Lamina1 was co-founded by Peter Vessenes, a co-founder of the Bitcoin Foundation. Lamina1's backers include LinkedIn co-founder Reid Hoffman and Ripple.
Broadly speaking, interest in the metaverse appears to have waned since Mark Zuckerberg decided to rebrand his tech empire Meta. Several companies such as Lamina1, Decentraland and The Sandbox, however, have continued to develop their ecosystems with the hope that the metaverse will grow exponentially in the coming years.
"Another World has spent the last two years prototyping and developing a number of on-chain/open metaverse experiences, including ‘GROUNDI’ a M2E’ app with over 150,000 downloads, ‘NO ONE ESCAPE’ an exciting race competition game, and Another Arcade, a hub of fun mini-games, which ended up ranking in the top 10 among all apps on Google Play," Lamina1 said in its post.
Lamina1 also said that holders of Another World's AWM token "will have 9 months to convert their tokens over to L1 and start activating within the L1 ecosystem."
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