Yuga Labs has strategically acquired 10KTF and WENEW Labs, with Beeple joining the team as an advisor
In Brief
The creative minds behind Bored Ape Yacht Club, Yuga Labs, have just made a significant purchase, acquiring Beeple’s WENEW Labs and the NFT collection 10KTF.
Beeple will take on an advisory role within Yuga Labs, while Michael Figge, the CEO of WENEW, will step in as the new Chief Content Officer. Nearly 20 team members from WENEW will transition to Yuga, bringing Yuga's total workforce to over 100 around the globe.
The trading activity of the 10KTF collection has skyrocketed within the past day.
Yuga Labs has acquired WENEW Labs, founded by Beeple and the creator behind the sought-after NFT 10KTF, has officially become part of the Yuga landscape. Known for his groundbreaking sale of an NFT for a staggering $69.3 million at Christie’s, Beeple is now an advisor to Yuga Labs.
As Yuga welcomes Michael Figge as the Chief Content Officer, about 20 former WENEW colleagues will now be part of Yuga's team, which has expanded to employ over 100 creative professionals worldwide.
In the words of the leadership, 'WENEW and Yuga share a deep-rooted love for creativity and storytelling, and merging our talents will allow for more imaginative offerings in the web3 space.'
the Yuga Labs team wrote in a blog post.
WENEW has earned a reputation for engaging with prestigious brands such as Gucci, Louis Vuitton, Puma, Playboy, and Wimbledon. Its flagship project, 10KTF, is a unique virtual retail experience brought to life by the fictional character Wagmi-san in a reimagined Tokyo. Enthusiasts holding NFTs from top collections (like BAYC, Cool Cats, WoW, CryptoPunks, and Meebits) can shop for digital fashion items tailored for their profiles.
In a recent tweet, it was announced that Wagmi-san is set to enter the Otherside metaverse.
Sales for the 10KTF collection have experienced an astounding surge: OpenSea has recorded a breathtaking 3,656% increase in trading volume over a single day, with BAYC showing a 565% rise. Other notable collections under Yuga Labs, such as MAYC, CryptoPunks, and Otherdeed, also experienced significant boosts. Remarkably, the floor price for 10KTF leaped from 0.165 ETH to 0.48 ETH within just 24 hours.
Recently, Yuga The company has appointed its first Chief Gaming Officer. In June, Noah Davis, who led the NFT department at Christie’s, took on the role of brand lead for CryptoPunks. It’s evident that Yuga is on a rapid expansion path, solidifying its status as a frontrunner in the Web3 NFT marketplace.
Nonetheless, Yuga Labs faces challenges; they are currently under scrutiny from the U.S. Securities and Exchange Commission for allegedly offering unregistered digital assets, raising questions about their compliance with federal regulations.
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In line with the Trust Project guidelines Agne is a dedicated journalist bringing the latest updates on trends and advancements across the metaverse, AI, and Web3 sectors for Metaverse Post. Her commitment to storytelling has led her to engage in numerous interviews with field experts, always on the lookout for compelling narratives. With a Bachelor’s in Literature, Agne boasts a rich background in various writing topics, including travel, art, and culture. Moreover, she has actively volunteered as an editor for an animal rights organization, raising awareness about welfare issues. Feel free to reach out to her at.
