According to Cointelegraph, Yuga Labs CEO Daniel Alegre said at the Token 2049 event in Singapore that despite the negative impact Meta has brought to the metaverse, the open online virtual world is still developing. Alegre believes that the problem with Meta is that it claims that the metaverse is something new, but in fact other metaverse platforms already exist. He said that the metaverse is developing in a very positive way. Alegre also said that Yuga's upcoming Otherside metaverse is different from Meta's Horizon Worlds. Otherside was developed in response to the needs of the NFT holder community and aims to provide a digital space for the community to connect.