All articles tagged with #yuga labs
Bored Ape Yacht Club is making a comeback as a metaverse called Otherside, which aims to be an ambitious, interoperable, and gamified virtual world where NFTs serve as avatars, set to launch on November 12th after initial alpha testing and significant funding.
ApeCoin reported a positive Q4, but its price declined as interest in Yuga Labs NFTs waned in comparison to Bitcoin-based NFTs. The NFT sector became more competitive, impacting APE's performance, with BAYC and MAYC not achieving sales volumes comparable to other NFT collections. APE's price declined, network growth fell, and the MVRV ratio indicated most holders were not profitable, while the Long/Short difference grew, suggesting long-term holders exceeded short-term holders.
Yuga Labs, the company behind the Bored Apes Yacht Club NFT project, held beta sessions for their upcoming NFT-powered metaverse project, Otherside, where owners of certain NFTs could explore a digital clubhouse, but the experience was underwhelming with limited features and graphics. The project aims to support multiple NFT types and user-created games in the future, but the high entry cost and lack of compelling content may pose challenges for its success.
Attendees at Yuga Labs' ApeFest, a three-day event celebrating Bored Ape Yacht Club NFTs, have reported eye and skin irritation, potentially caused by UV light used at the event. Yuga Labs is investigating the reports and has encouraged impacted attendees to share information about their symptoms. The company estimates that the affected individuals represent less than 1% of the event's attendees and staff. One attendee was diagnosed with photokeratitis, a condition caused by damage from UV rays, while another experienced severe eye burn and skin damage. Yuga Labs, a web3 company, raised $450 million in funding earlier this year and recently announced layoffs.
Game developer nWay is developing Wreck League, a 3D mech-fighting game that will incorporate Ethereum NFT collections, including the Bored Ape Yacht Club, Mutant Ape Yacht Club, Koda creatures, and the Bored Ape Kennel Club. The game will launch in September and offer both an NFT-driven version and a free-to-play, non-crypto experience. nWay plans to work with other brands and projects in future seasons. Wreck League will focus on player-vs-player combat and will not become a MOBA game. The game will offer in-game mechs and parts as Ethereum NFTs, allowing players to assemble their playable mechs. While better mechs can provide an advantage, the game aims to strike a balance between skill, luck, and the quality of the mech. nWay will also allow mech NFT creators to sell their creations as playable characters to non-crypto players in the game's "Web2" store.
Yuga Labs, the web3 company behind Bored Ape Yacht Club and Otherside, has announced that Mike Seavers, former EVP of Development at Epic Games, will be joining the company as Chief Technology Officer. Seavers will lead innovation and technology strategy for Yuga's next stage of growth, succeeding current CTO and Co-Founder Kerem Atalay, who will remain with the company as a close strategic advisor. Yuga Labs aims to reinvent what real-world utility for NFTs looks like and push the space forward as a whole.