Virtual Society Foundation Launches to Create a

New York, United States, March 28, 2024 (GLOBE NEWSWIRE) — Today marks a pivotal moment in the evolution of the digital landscape as the Virtual Society Foundation (VSF) announces its official launch, accompanied by plans to establish a unified and open metaverse utilizing cutting-edge blockchain technology.

VSF is an independent organization initiated by Improbable, a British start-up that has been at the forefront of building virtual worlds for over a decade. VSF has secured initial funding from MSquared, an ecosystem of interoperable metaverses. The foundation’s mission aligns closely with the vision of Improbable and MSquared, aiming to realize an open, community-driven network of metaverses.

The Foundation’s Vision:

Envisioning a future where a vibrant creator economy flourishes, the Virtual Society Foundation is building toward an open and interconnected metaverse ecosystem where the creator economy can thrive. Underpinning this vision is a commitment to establishing universal standards that facilitate seamless interoperability of avatars, digital and crypto assets across diverse metaverse experiences. This endeavor promises not only an enhanced user experience but also an abundance of opportunities for imaginative individuals, ushering in a new era of digital interaction and creativity.

In pursuit of its mission, the Foundation is committed to:

• Researching and developing blockchain technology and protocols conducive to an open, interoperable network of metaverses.
• Providing financial support to projects aimed at nurturing the metaverse ecosystem.
• Collaborating with like-minded organizations and foundations to establish open standards for the metaverse.
• Advocating for the widespread adoption of metaverse technology.

In a statement announcing the foundation’s launch, Paul Thomas, founder of VSF, emphasized the collaborative and inclusive nature of the foundation’s mission, stating, “The coming decade will witness a profound transformation in online interaction and creation. We envision this as a communal endeavor, owned by all, rather than controlled by a select few mega-corporations.”

The construction of an open metaverse network demands collective action shared between a diverse community of creators, instead of a private venture controlled by a small group of stakeholders. Hence, VSF was established as an independent nonprofit, supported by Improbable, MSquared, and other strategic partners, ensuring that development of this new paradigm remain transparent and inclusive.

Backers and Collaborators:

In 2022, Improbable raised $150 million in funding from prominent investors, including a16z crypto, SoftBank, Mirana Venture, CMT Digital, and SIG to establish MSquared, a network of interoperable metaverses powered by its Morpheus technology. Morpheus has facilitated high-density social interactions in virtual spaces and helps major brands create deeply immersive and interactive metaverse experiences. 

MSquared has successfully powered massive social experiences that tens of thousands of users can enjoy together, including an official virtual ballpark with the Major League Baseball (MLB) organization in the US and concerts with Kpop musicians like TWICE.

The Path Ahead:

VSF’s flagship project, Somnia Network, represents a significant milestone in the journey toward a unified metaverse. As an L1 blockchain and omnichain protocol suite, Somnia Network promises to unite diverse metaverse experiences within the same framework. The imminent launch of Somnia Network and Betanet signals the beginning of a transformative journey toward decentralization and universal accessibility. 

For more information, visit https://virtualsociety.foundation/

Michelle Kang
Marketing Head
Virtual Society Foundation
Marketing at virtualsociety.foundation