Meta's Approach to the Metaverse Criticized by Yuga Labs CEO, Emphasizes Community-Driven Otherside Metaverse and Divergence in NFT Valuation.
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
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.