Meta’s marketing of its Horizon Worlds metaverse “ruined” the term, but the metaverse is evolving and focusing on creating online spaces for communities, says Yuga Labs CEO Daniel Alegre.
“The digital connection is what they've asked us to do,” Alegre said. “At its core, [Otherside] a way for our community to connect digitally in one location.”and a “vibe check” by a focus group in July. Alegre said Yuga recently conducted another limited experience of Otherside with “core members.”
Alegre said he’s also seeing a divergence in how NFTs are being viewed. On one hand, NFTs are being valued purely for“Those are two avenues that this is all going down,” he opined. CryptoPunks — an early NFT collection — are being exposed to “top museums and collectors” who are starting to see the value of owning the original, according to Alegre.Meanwhile, BAYC holders have created a community and Alegre claims “more than 900 holders of Apes are building businesses on top of the Apes.”
He said Yuga was in a similar position to YouTube where its user-generated content model allowed businesses to be built around sharing videos on the platform.
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