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Web3 has created a new era of decentralized finance, democratizing financial access. However, it has fallen short in generating mass consumer applications and remains largely centered around finance. We believe blockchain technology is a cornerstone for the future of new, open Internet applications.
Today, there are limits to what you can build on-chain. Many factors constrain this, from the cost of running applications to the fundamental performance limitations of existing blockchains. We believe that new technologies can unlock a new class of real-time applications that normally must be built on Web2 foundations. Enabling these systems to be built on-chain will allow the free movement of businesses and users between online platforms, creating what we call a true virtual society.
We are building Somnia, a fast and cost-effective EVM-based blockchain, to achieve this. Somnia is a layer-one blockchain with full EVM compatibility, capable of processing over 400,000 transactions per second with sub-second latency and low fees. This will unlock a new wave of on-chain applications. Initially, we are focusing on gaming, metaverse, and social experiences. But we are not even 100% certain of what can be built with the technology we are creating.
Somnia is being developed by Virtual Society Foundation, an independent organisation initiated by Improbable, a British start-up that has been at the forefront of building virtual worlds for over a decade. VSF received initial funding from MSquared, which raised $150 million in funding from a16z crypto, SoftBank, Mirana Ventures, CMT Digital, and SIG.
The Operations Administrator is a key role supporting the company’s operational efficiency, employee management, and financial processes. This position involves handling a variety of responsibilities, from onboarding new employees and managing recruitment efforts to processing payments and maintaining organisational records. The ideal candidate will have strong administrative skills, experience in budgeting, and a proactive approach to troubleshooting operational challenges.
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