Mar. 22 NFT Recap | Yuga Labs' $4 Billion Valuation
Top News Today:
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Yuga Labs' $4 Billion Valuation
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Cooltopia Partners With Machinations
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The Traveling Creature Departs
- Top NFT Movers
Yuga Labs' $4 Billion Valuation
Yuga Labs formally announced that it has closed a $450 million seed funding round from Andreeseen Horowitz's a16z crypto fund. The round will have participation from a host of web3 brands and studios such as The Sandbox, MoonPay, Animoca Brands, and FTX.
Yuga stated that the funding would be utilized to "scale its rapidly growing team, attract the best talent across creative, engineering and operations functions, and for joint ventures and partnerships."
Yuga continues to expand its portfolio and connections in the web3 as it pushes to develop its brand further. After acquiring Punks & MeeBits and announcing the upcoming "Otherside" metaverse project, Yuga is poised to become the first web3 empire.
Cooltopia Partners With Machinations
Cool Cats took to Twitter to update the community a bit on the Cooltopia game developments. The team has partnered with Machinations, a web3 company specializing in predicting game economies & systems.
We're working with @machinationsio & their experts to verify our #GameEconomy design. It’s a thorough process with large-scale simulations and designing contingency plans. We’re committed to receiving the #VerifiedByMachinations Seal for Cooltopia! 🆒🐱💙https://t.co/jIrik9Efh5 pic.twitter.com/EzVNOfBAZX
— Cool Cats (@coolcatsnft) March 22, 2022
The Cool Cats developers are seeking to be verified by the studio in hopes to smooth out any issues with in-game economics before launch.
The Traveling Creature Departs
Creature World has released its Traveling Creature NFT experiment mechanic early this afternoon. Holders have two hours to send the Traveling Creature to another wallet before it will be "yoinked."
There are five traveling creatures that will attempt to travel through all 10,000 Creatures one time. Creature holders that participate in the longest continuous chain will be in for a "special surprise."
Top NFT Movers
Bored Ape Yacht Club continues to fall off into the week down 26% leading the NFT markets with a meager 1,100 ETH in volume. As volume continues to stay low Yuga's flagship project has been the volume leader for most of the month.
Mutant Ape Yacht Club continues to slide volume wise along with the rest of the market. Floor prices have held relatively steady for most of the top projects during this downswing.
Azuki one of the few established projects up in volume, rising over 106% to 738 ETH traded. Floor price is relatively flat as much of the ecosystem continues to struggle to find the consistent volume.
Check out Lucky Trader's full NFT project rankings here.
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