Yuga Labs Acquires Bored Monkey Creator for Beeple’s WENEW Project and 10KTF NFT

the summary

  • Yuga Labs acquires NFT Startup WENEW, creator of the 10KTF project and other brand collaboration companies.
  • WNEW founder Mike “Beeple” Winkelmann joined Yuga Labs as a consultant as part of the deal.

Bored Monkey Yacht Club Creator Yuga Labs hasn’t finished expanding. after, after Buy CryptoPunks and Meebits The startup NFT Project IP from Larva Labs announced in March that it had acquired it NFT Startup WNEW, co-founded by acclaimed artist Mike “Beeple” Winkelmann.

WINEW has had a number of collaborations with brands since then Launched in June 2021, including with Gucci, Louis Vuitton, Playboy and Wimbledon Tennis Championships. The startup is also known for its 10KTF, an Ethereum NFT project built around a fictional tailor making digital clothing for various high-value Profile Picture Project (PFP).– Including bored monkeys.

Yuga Labs has acquired the startup and will add Michael Feig, co-founder and CEO of WENEW, as its new chief content officer. Meanwhile, Beeple – which is famous for selling one piece NFT artwork For $69.3 million at auction March 2021 – Will be a consultant to Yuga Labs.

10KTF is a story-based NFT project built around a fictional “digital craftsman” named Wagmi-san, who develops custom clothing for popular PFP entrepreneurs – including Bored Apes, but also adorable catsAnd the NounAnd the moon birds, and others – may have been applied to their own NFT artwork. Owners can also order physical clothing based on their artwork from PFP.

Clothing brands such as Gucci and Puma previously made digital fashion collaborations with 10KTF. Yoga Labs Already aroused A kind of Wagmi-san implementation in her upcoming Bored Ape-centric metaverse Game, the other side. Yuga Labs representative said Decrypt The terms of the deal were not disclosed.

NFT is a blockchain token that represents ownership in a unique item, often for digital goods such as profile photos, artwork, and collectibles. Bored Ape Yacht Club is one of the most successful projects in the space, having generated nearly $2.5 billion in secondary sales to date, according to data from cryptoslam.

Last week, before the acquisition was announced, three Yuga Lab founders signed a blog post with 10KTF CTO Randy “Melonpan” Chung. NFT Marketplace criticizes OpenSea’s stance on the originator royalties. The day after the publication was published, OpenSea changed course She will continue to honor royalties on secondary sales.

In March, following the news that Yuga had acquired CryptoPunks and Meebit’s IP, the startup announced that it owns It raised 450 million dollars, with a valuation of 4 billion dollars.

One of the supporters of Yuga was FTX Ventures, which caught fire last week at the popular cryptocurrency exchange. It collapsed during a liquidity crunch. On Friday, Yoga co-founder Willie “Gordon Gunner” Arono chirp That the collapse of FTX “did not affect us” and that it wiped out the funds that were previously held by FTX US.

Stay up to date with cryptocurrency news, and get daily updates in your inbox.

Leave a Reply

Your email address will not be published. Required fields are marked *