Yuga Labs, BAYC’s founder, announced Metaverse NFT Open Standards are coming “very soon”

The ability for users to migrate their NFTs between Web3 metaverse platforms has always been one of its unique selling points. However, compatibility amongst metaverse platforms has currently been limited.

Bored Ape Yacht Club founder Greg Solano, also known as Garga said “We’re going to be publishing our object standards as they become available; some are coming very soon, and others will be coming over the course of the next year.” According to Solano, these object standards will be “open standards that anyone may accept and develop on top of.”

Based on the idea, a designer can create a 3D character model for BAYC’s Otherside metaverse and “just transport it to another metaverse.”

Yuga Labs, the company behind the Otherside metaverse and the owner of the bored Ape Yacht Club, plans to develop a “completely interoperable” metaverse that “will allow you to play as any character. “Maybe you’re an ape. Maybe you’re not; maybe you’re not a Yuga property, that’s okay.” The goal is ultimately to create an open world in which, “everyone is able to have a shared fun experience,” she added.

Building an economy for creators in the metaverse

According to Muniz, what differentiates Otherside from other metaverse attempts is that “it is founded in the mythology and lore, which will lead to gameplay and other community-wide experiences.”

Solano believes that another advantage of an open metaverse versus a Web2 “walled garden” like Fortnite or Roblox is “true ownership.”

“The best innovations to come out of gaming in the past 20 years have been from modding communities,” he said. “Some of the biggest games in the world started off as some anonymous developers building on top of some other platform.”

He explained that the open metaverse offers such authors an alternative method of monetizing their work without begging for Patreon funds or YouTube memberships.
“If there was a native incentive structure, where they can own assets and provenance there, then we hopefully create the creator economy that actually drives value back to creators, just by virtue of the existing incentive structure.”

Yuga Labs is not the only company in the metaverse working for open standards.

The Open Metaverse Alliance (OMA3) was founded earlier this month with an aim to ensure that the metaverse “remains open and becomes truly user-owned.” A working group has been established to set interoperability standards.

Despite the fact that Yuga Labs was initially announced as a member of OMA3, it was later revealed that their participation has not yet been finalized.

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The post Yuga Labs, BAYC’s founder, announced Metaverse NFT Open Standards are coming “very soon” appeared first on NFT News Pro.

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