Lamina1 Merges with Another World

Lamina1, the metaverse project founded by "Snow Crash" author Neal Stephenson, announced on Wednesday its merger with Another World.

About Another World

Another World, a South Korean metaverse initiative originally built on the Kaia blockchain in 2022, will now be part of the Lamina1 ecosystem. According to a statement, Lamina1's parent company, Open Metaverse Limited, acquired Another World in "an all token deal."

Migration Plans

In the coming weeks, Lamina1 plans to migrate Another World’s community of over 500,000 token holders, investors, metaverse builders, developers, and enthusiasts into the L1 ecosystem. This will be executed via token exchanges and targeted onboarding initiatives aimed at engaging their community.

Additionally, staff from Another World will join Lamina1 to help "build out the Lamina1 Hub platform."

Leadership and Background

Rebecca Barkin became CEO of Lamina1 in early 2023. Alongside Stephenson, Lamina1 was co-founded by Peter Vessenes, a co-founder of the Bitcoin Foundation. The project is backed by prominent figures, including LinkedIn co-founder Reid Hoffman and Ripple.

Industry Context

Despite a general decline in interest in the metaverse since Mark Zuckerberg's rebranding of his tech empire to Meta, companies like Lamina1, Decentraland, and The Sandbox continue to develop their ecosystems, anticipating exponential growth in the coming years.

Achievements of Another World

Over the past two years, Another World has developed various on-chain/open metaverse experiences, including:
– GROUNDI: A Move-to-Earn app with over 150,000 downloads.
– NO ONE ESCAPE: An exciting racing competition game.
– Another Arcade: A hub for fun mini-games, which ranked among the top 10 on Google Play.

Lamina1 mentioned that holders of Another World's AWM token will have nine months to convert their tokens into L1 and engage with the L1 ecosystem.