- Bored Ape Yacht Club’s (BAYC) parent firm Yuga Labs has added the Web3 ecosystem WENEW and its flagship NFT collection 10KTF to its expanding list of well-liked non-fungible (NFT) products.
- WENEW and Yuga share a love of imagination and storytelling; the acquisition will speed up their collaboration to infuse web3 with greater creativity.
- Michael Figge, co-founder, and CEO of WENEW, will join Yuga as a chief content officer. Mike Winkelmann, aka Beeple, will also join Yuga as an advisor
Artist Mike Winkelmann, alias Beeple, together with fellow crypto powerhouses Guy Oseary and Michael Figge, developed WENEW, a Web3 ecosystem that claims relationships with companies like Louis Vuitton and Gucci. The business is also the driving force behind 10KTF, an open-source digital marketplace where owners of leading NFT projects like BAYC, Moonbirds, and others may create exclusive digital wearables.
Today, we are excited to welcome the @wenewlabs and @10ktfshop team to the Yugaverse. Together we will push the boundaries of where the metaverse meets reality through creative storytelling and immersive experiences. Read more about the news here: https://t.co/6NPJgmzxck— Yuga Labs (@yugalabs) November 14, 2022
Greg Solano, the co-founder of Yuga Labs, said: “Figge, Beeple, and the WENEW team have found a method to build a compelling serialized story for Web3, while simultaneously managing to tap into the passion people have for their digital avatars and customization.
Storytelling and world-building are fundamental to Yuga, so I’m pleased that we now have a far more comprehensive opportunity to collaborate with WENEW’s creative mind swarm.
As chief content officer, Figge will join Yuga’s executive team, and Winkelmann will join as an advisor. Previously, Figge served as the co-founder and creative director of Possible, a media firm that develops immersive visual experiences for prestigious fashion houses and occasions like Coachella and the Super Bowl halftime performance.
After the announcement, Yuga Labs made a suggestion that 10KTF and Otherside, their gamified and interoperable metaverse platform, might be integrated.Sales of NFT projects from Yuga Labs, such as BAYC, MAYC, Otherdeed (NFTs linked to virtual land in Otherside), and 10KTF, skyrocketed, dominating the NFT marketplace OpenSea.
Welcome to the Otherside, Wagmi-san. pic.twitter.com/cNCNTqOd44— Othersidemeta (@OthersideMeta) November 14, 2022
Yuga Labs has been progressively increasing the number of interactive and NFT projects in its portfolio. Major NFT projects CryptoPunks and Meebits were purchased by the business in March, with the commercial rights being released to holders a few months later.
Additionally, the business has produced NFT collections such as Bored Ape Kennel Club (BAKC) and Mutant Ape Yacht Club (MAYC) and has most recently launched a governance token known as ApeCoin (APE). The business is currently worth $4 billion.