Yuga Labs went from launching an NFT collection with a mint price of 0.08 ETH or $210 to becoming a leading Web3 brand valued at $4 billion in a little over a year. Other investors include CoinBase, Animoca Brands, Samsung, and Google Ventures. In late March of 2022, Yuga Labs completed a funding round that saw them raise $450 million and put them at a $4 billion valuation. Including ApeCoin and Otherside, the metaverse project for the BAYC ecosystem. Yuga Labs made headlines again after revealing its metaverse plans. Therefore, when Yuga Labs announced the acquisition of the CryptoPunks and Meebits IP rights, the entire crypto community went into a frenzy. Along with CryptoPunks, it spearheaded the NFT hype that saw record trading volumes in 2021. On April 28, 2021, Yuga Labs launched the Bored Ape Yacht Club (BAYC), which became one of the most significant projects in the history of NFTs. It was founded in 2021 by Wylie Aronow and Greg Solano and is headquartered in Miami, Florida. Yuga Labs is a blockchain technology company that develops NFTs and digital collectibles. Now, Yuga wants to fit all this into the Otherside, offering users an interoperable experience that will allow them to move between metaverses. From buying the IP rights to CryptoPunks and Meebits to the ApeCoin drop. Yuga Labs is looking to build one metaverse that reigns them all and has already started shaping Web3 through its shrewd acquisitions and market moves. The platform will turn NFTs into playable characters while collectors can own land in this open-world game and engage with various ecosystems. Moreover, Yuga Labs intends their Bored Ape metaverse to be an MMORPG that will connect the broader NFT universe. Otherside is one of the most anticipated metaverse projects due to its gamification plan and connection with Animoca Brands.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |