Daniel Alegre: Building infrastructure to catch up with web3 opportunities

🎥 Feb 06, 2024 📺 The GM Show ⏱ 1m 👁 355 views

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About Daniel Alegre

Daniel Alegre, CEO of Yuga Labs, has described the current state of web3 technology as still being complicated and behind the opportunity, comparing it to the early days of the mobile revolution. He has stated that disruptive technologies always face entrenched interests and that user trust is hindered by the complexity of the space and fears of scams. Alegre has expressed optimism about infrastructure investment in the sector, drawing a parallel to the early internet era of AOL, and has said he believes the technology's potential will be realized over time. Alegre has emphasized Yuga Labs' focus on community-driven brand building, describing the model of granting NFT holders full commercial IP rights as a revolutionary approach to IP ownership. He has stated that the company is committed to the long term and is focused on creating gaming and metaverse experiences through its Otherside platform, with the goal of exposing web2 gamers to the value of web3. Alegre has also discussed the company's stance on creator royalties, expressing disappointment with OpenSea's policy change and highlighting a partnership with Magic Eden based on a contractual commitment to support royalties. He has noted that the company is expanding its presence in Asia Pacific, citing strong enthusiasm from both crypto enthusiasts and regulators in the region.

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Transcript (1 segments)

Daniel Alegre0:00

Disruptive anything disruptive tech, disruptive new business models. First, always have entrenched players who have a vested interest for it not to be successful. And then two, you're also dealing with just natural human behavior of if I don't know it or I don't understand it, I can't trust it. If you look at what's going on in the web3 space, this is a very, very complicated one conceptual thing to get your head around. And two, that technology is still behind where the opportunity is. Just like I saw where Android and iPhone were going to go with the mobile revolution in the digital space, this is one of those pivotal moments. It's going to happen, it's just a matter of time. The other part is the tech, it's still complicated. There's still a lot of fear of scams and vulnerabilities in the tech. And what I was very happy to see when I went to the crypto events, particularly in Singapore last year, Token 2049, was how much infrastructure investment was going into the space. And a little bit like the AOL situation where the value propositions were there, they just needed to fix the infrastructure and then everything was going to go off to the races, you know, and take off. You have the same situation.