You know Bored Apes and CryptoPunks, but do you know the company behind them? Yuga Labs is an NFT shooting star and owner of the three largest NFT collections on the market. But they want more. They want to conquer the metaverse.
Yuga Labs was founded in February 2021 and incorporated in the state of Delaware in the United States. The company is best known for developing the largest and most profitable NFT project in the world to date, the Bored Ape Yacht Club (BAYC).
The company started Bored Ape Yacht Club (BAYC) in April 2021, has sold Bored Ape NFTs, and has since developed other NFT- and Metaverse-based solutions.
According to The Verge, the creators of BAYC and CryptoPunks received funding of $450 million with a valuation of $4 billion dollar to build their media empire. Yuga Labs wants to explore new ways to expand and build the NFT community: Recently, Yuga Labs announced that it will build the Metaverse Otherside. A particularly rare piece of land for this very thing went to the buyer for just $1.5 million. They hope to create “an interoperable world” that is both “gamified” and “fully decentralized,” BAYC co-founder Wylie Aronow said, according to The Verge.
That means Yuga Labs is essentially getting hundreds of millions of dollars to build a game company from the ground up. Their first forays into NFT art were extremely successful, what will it be like in gaming?