Digital Asset Management Working Group

In the rapidly evolving landscape of the Metaverse, the Digital Asset Management (DAM) Domain Working Group at the Metaverse Standards Forum is dedicated to bridging the gap between various industry stakeholders, including standards development organizations (SDOs), to streamline the interoperability and efficient management of digital assets.

The DAM Working Group’s primary focus is on facilitating inclusive and open communication across industries and communities, ensuring a collaborative approach towards the development of non-proprietary standards. Driven by a vision of an open, secure, and inclusive Metaverse, the group envisions digital assets moving seamlessly and safely across different platforms.

The DAM Working Group aims to identify and fill market gaps, propose interoperable solutions, and guide the industry towards a unified understanding and approach to digital asset management in the Metaverse. This effort encompasses not only the analysis and documentation of current market standards and practices through market analysis and use case development but also the proactive identification of future challenges and opportunities in the Metaverse ecosystem.

Operating under a set of guiding principles that prioritize openness, portability, inclusivity, privacy, security, and human-centric design, the DAM Working Group ensures that its deliverables align with the overarching goal of creating an accessible and fair Metaverse for all.

Join us as we navigate and shape the ever-changing world of digital asset management in the Metaverse, fostering a collaborative environment that champions innovation, security, and inclusivity.

Work in Progress

Spearheading the Use Case Initiative:

A pivotal achievement of the DAM Working Group since its formation has been its leadership in launching the Use Case Initiative within the MSF in collaboration with the Standards Register Working Group. In a collaborative effort that involved valuable input and insights from chairs of other working groups within the MSF, the DAM Working Group developed a standardized template for gathering use cases. This template has been instrumental in streamlining the process of identifying and addressing the diverse needs and scenarios encountered within the Metaverse. As a result of this collaborative initiative, there is now a growing collection of use cases being actively worked on across various MSF working groups. This collection is not only enhancing the richness of the MSF Use Case Register but also emerging as a major driving force behind numerous ongoing projects, significantly contributing to the MSF’s overarching mission.

NFT Royalties Use Cases Collaboration:

Embarking on an exciting new venture, the DAM Working Group is now beginning work on a collaboration between the Metaverse Standards Forum (MSF) and the Open Metaverse Alliance for Web 3 (OMA3) focused on NFT Royalties Use Cases. This joint effort allows members from both organizations to collaboratively explore and develop use cases specific to NFT royalties, marking a significant step towards standardizing and enhancing NFT practices within the Metaverse.

Metaverse Reputation:

Collaborating closely with the Privacy, Cybersecurity, and Identity Working Group at the Metaverse Standards Forum (MSF), the DAM WG is embarking on a journey to develop comprehensive use cases in partnership with OMA3. This collaboration extends and strengthens the existing liaison relationship between OMA3 and MSF, focusing on the pivotal topic of Metaverse Reputation. Through this collaborative effort, the group aims to identify key use cases along with the corresponding challenges and requirements. This strategic approach will enable Standards Development Organizations like OMA3 to forge ahead in creating a standard for managing reputation within the Metaverse.

Engagement Plan and Upcoming Deliverables:

Alongside these accomplishments, the DAM Working Group has developed a comprehensive Engagement Plan to streamline its operations and collaborations with Standards Development Organizations and internal MSF working groups. Looking ahead, the group is set to deliver a market assessment report and a document outlining the requirements and key criteria for digital asset management. These upcoming deliverables are anticipated to offer valuable insights and guidelines for effectively managing digital assets in the Metaverse.

Current Deliverables

Key Definitions in Digital Asset Management:

As its inaugural deliverable, the DAM Working Group has achieved a significant milestone by approving a series of key definitions pivotal to the realm of digital asset management within the Metaverse. This initial set of definitions, encompassing crucial concepts such as digital assets, DRM, wallets, and blockchain, represent the first foundational step in our comprehensive roadmap. They establish the necessary context and a clear terminological framework, which is integral for guiding all subsequent initiatives and discussions within the DAM Working Group regarding digital assets. This endeavor is a direct reflection of our commitment to delivering clear, concise, and broadly agreed-upon definitions as per the primary objective of our working group charter.

Speaker Series:

The DAM Working Group has hosted a series of enlightening talks featuring prominent organizations and groups, including the IEEE Standards Association, Open Metaverse Foundation, Open Metaverse Interoperability Group, OMA3, Open Meta|Crucible, Moving Picture, Audio and Data Coding by Artificial Intelligence (MPAI), MPEG, Eluvio, LTO Network, ITU Metaverse Group, and Species.io. These speaker series have been instrumental in broadening the understanding and scope of digital asset management within the Metaverse.

Additional Resources

• Working Group Charter
• Working Group Chairs
• Working Group Portal (Members Only) – Join the Forum to get involved.
• Meeting Dates: We meet bi-weekly on Thursdays – Join the Forum to get involved.

Working Group Chairs

Metaverse Standards Form working groups address the interoperability challenges and opportunities that are vital to the driving the open metaverse.  These working groups are led by our volunteer chairs who give their time to help coordinate and drive discussions with members of the group.