In speaking of the differences between NFTs and JPEG images Yuga Labs CEO Nicole Muniz also declared the intent of her Company to hire top talent in the web3 ecosystem. The company is known for its Bored Ape Collection which has been joined by CryptoPunks and Meebits, all offering the owners full commercial and intellectual property license.
Speaking at Lisbon’s annual technology conference WebSummit on Thursday, she addressed the importance of the security and safety of digital assets, the potential of IP rights, and the origins of BAYC.
When asked about the difference between JPEGS and NFTs the CEO went on to state the fact that an NFT conveys “the rights and fact that you have true ownership of that asset”
“That exclusive ownership is something that is really coming into the space and it empowers consumers to actually shift into owners, and that’s a paradigm shift overall.” -Muniz
The Otherside highlights Yuga’s plans for an interoperable metaverse. Muniz spoke upon a philosophy that included inclusivity. She stated it is a belief of the company that web3 should offer true ownership of not only assets but identity as well.
She revealed that Yuga Labs was creating an “Otherside Development kit” that would allow builders to create capabilities and features for Otherside and transport those functions into other metaverses held within that space.
Yuga Labs received $450 million in a seed round that was led by Andreessen Horowitz which lead to the company being worth over $4 billion to date. The team has been focused on creating a top organization.
Muniz stated if there were creators that wanted to create some of the “Craziest things on the internet, wrapped in creativity, storytellings, board mythology and fun” that they should apply to work for Yuga Labs.
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