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Yuga Labs Announces Metaverse NFT Open Standard

By Barry Stidham
Nov 8, 2022
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Yuga Labs has announced that it will launch an open standard for Metaverse NFTs to enable NFTs to migrate between Otherside and Other Metaverses. Greg Solano, founder of BAYC, said that some standards will be launched soon, others will be launched next year, which are open standards that "anyone can adopt and build on", and the ultimate goal is to create an open world.

One of the unique selling points of the Web3 metaverse has always been the idea of interoperability. Users can port their NFTs between Metaverse platforms. But so far, interoperability between Metaverse platforms has been very limited.

That could change, Bored Ape Yacht Club founder Greg Solano, aka Garga, told us, "We'll release object standards as they become available; some will come soon, while others will come over the course of next year. These object standards will be "open standards that anyone can adopt and build on," Solano said.

Yuga Labs, owner of the Boring Ape Yacht Club, the company behind the Otherside virtual world, wants to build a "truly interoperable" virtual world; Yuga Labs CEO Nicole Muniz told Decrypt, "It will allow you to play any role. ". "Maybe you're an ape. Maybe you're not; maybe you're not Yuga property, that's okay."

The ultimate goal is to create an open world where "everyone can share a fun experience," she added.

Yuga Labs isn't the only metaverse company pushing open standards.

Earlier this month, the Open Metaverse Alliance (OMA3) launched a vision to ensure Metaverse "remains open and truly user-owned," including a working group to develop interoperability standards.

However, while Yuga Labs was initially announced as a member company of OMA3, it was later clarified that its membership in the organization had not been finalized.

Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of BitKan. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. BitKan shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. Products mentioned in this article may not be available in your region.

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