Yuga Labs Announces Restructuring In Push Towards 'Otherside' Metaverse Development

Yuga Labs, the team behind the revolutionary Bored Ape Yacht Club (BAYC) NFT collection, is embarking on a refreshing company restructuring. Greg Solano, the visionary co-founder, revealed in a recent post on X that they are refocusing on their core crypto business, including the exciting Otherside metaverse project.

gm, really tough day today. I am hellbent on transforming yuga and getting us back to our roots, and that means making hard decisions. by far the hardest is saying goodbye to some talented team members. here was my message to the team this morning. pic.twitter.com/gBkoNf2iK3

— Garga.eth (Greg Solano) 🍌 (@CryptoGarga) April 26, 2024

Under this restructuring, Yuga Labs has streamlined its workforce, aiming to become a leaner and more agile team focused on the ethos of cryptocurrency. Solano expressed the need for a return to their creative roots, shedding cumbersome corporate processes that hindered their innovative spirit.

He reflected on the company’s trajectory from coasting on creator royalties during the NFT boom to navigating current challenges in a more competitive landscape. Yuga Labs is now embracing a fresh start, transitioning from the comfort of “easy mode” to the grittier “hard mode” with unwavering community support.

As part of their strategic realignment, Yuga Labs is consolidating its efforts towards the immersive 3D Otherside gaming experience, spinning off other ventures like HV-MTL and Legends of the Mara (LoTM). The recent acquisition of these brands by gamebuilder Faraway marks a new phase of focused development.

This restructuring marks a pivotal moment in Yuga Labs’ journey, echoing past transformations last October that reaffirmed their commitment to evolution. With a legacy rooted in trailblazing NFT projects like BAYC, Yuga Labs remains a key player in shaping the future of the digital economy.

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