Verse is an exciting new Web3 programming language. Its main focus is on five key principles that the company believes will be the key to building the future of the metaverse.

Based on the presentation by Simon Peyton Jones, Koen Claessen, Ranjit Jhala, Tim Sweeney, Lennart Augustsson, and Olin Shivers, all who work at Epic Games, Verse will enable the creation of social interactions in a shared real-time 3D environment.

The language is developed to support an open economy governed by rules, not corporate overlords.

Additionally, the open-source programming language will be available for any programmer, artist, and designer interested in using it.

Verse also aims to support interoperable content by enabling live updates of running code and leveraging the operational standards from multiple game engines. This means that Unreal, Unity, and other engines can be supported.

Aside from this, Epic Games will publish papers and specifications for anyone to implement and will offer a compiler, verifier, and runtime under a permissive open-source license with no IP encumbrances. 

In the presentation, Epic Games acknowledge that the current Web3 programming languages are Turing-complete. This means they can be utilized in a computationally universal system; the team claims a new language can help evolve the industry further.

The language will also introduce higher scalability, interoperability, and the ability for transactions to complete quickly, which are some of the key areas currently lacking in crypto.