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Meta's Approach to the Metaverse Criticized by Yuga Labs CEO, Emphasizes Community-Driven Otherside Metaverse and Divergence in NFT Valuation.

Algoine News
Summary:
Yuga Labs CEO Daniel Alegre criticizes Meta for its flawed approach to the metaverse and highlights the community-driven nature of Yuga's upcoming Otherside metaverse. He also discusses the divergence in the valuation of NFTs based on art/history and community/intellectual property rights.
Tech giant Meta has faced criticism for tarnishing the reputation of the metaverse with its flawed approach, according to Yuga Labs CEO Daniel Alegre. Alegre, speaking at Token 2049 in Singapore, pointed out that the metaverse concept already existed before Meta's involvement, citing examples like World of Warcraft and Fortnite. He also highlighted the low user base of Meta's Horizon Worlds, claiming that it lacks a compelling reason for users to stay engaged. In contrast, Alegre emphasized the community-driven nature of Yuga's upcoming Otherside metaverse, which aims to provide a digital space for nonfungible token holders to connect.

Published At

9/14/2023 3:47:00 AM

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