Nicole Muniz clarified the fundamental differences between NFTs and JPEG images, as well as declared Yuga’s intent to hire top Web3 talent.
Nicole Muniz, CEO Yuga Labs, spoke on center stage at Lisbon’s annual technology conference WebSummit on Thursday, addressing the importance of security and safety of digital assets, the potential of IP rights, and the origins of the Bored Ape Yacht Club (BAYC).
When challenged on the distinction between an NFT and a typical JPEG image perpetually shared across the internet, Muniz said the NFT conveys “the rights and the fact that you have true ownership of that asset.”
Yuga Labs’ collections BAYC, CryptoPunks, and Meebits are prime examples of creators granting full commercial intellectual property license to holders, she noted.
“That exclusive ownership is something that is really coming into the space and it empowers consumers to actually shift into owners,” Muniz said. “And that’s a paradigm shift overall.”
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