Latest Bored Ape Yacht Club News

Yuga Labs provided a long-awaited update on its Otherside Metaverse on Wednesday. 

The Deets

• Foundation Building: Focus on setting up Otherside accounts, optimizing environments, and enhancing avatars for better interaction.
• Rapid Release & Iteration: Quick feature releases to gather user feedback and refine the platform.
• Upcoming Events: Introduction of Apes Come Home experience and work on Meebits 1.3 for Spring.
• Kodas and Community: Development of the unique Koda collection and plans for engaging other collections in Otherside.

The Bulk

Otherside, the metaverse initiative led by Eric Reid, has made significant strides in its development over the past six months, focusing on foundational work and preparing for rapid iteration and release of new features. The platform aims to provide a unified account and identity for users, facilitating access to NFTs, wallets, and a range of interactive experiences. With an emphasis on quality and scalability, Otherside is optimizing its virtual environments and avatars to meet AAA game standards, setting a new benchmark for metaverse experiences.

Soon it will host its Apes Come Home experience marking a milestone in the Otherside's journey, allowing 10,000 Ape holders to engage with their NFTs in a dynamic, shared space for the first time. This event, alongside the anticipation for Meebits 1.3, will be the first showcases of Otherside's efforts to serve as a platform for content creators, communities, and brands to come together and share their creativity.

📊 By the Numbers

The Otherdeed floor price is up 6% in the last 24 hours to 0.39 ETH. 

🎤 Founder Feedback

🔜 What's Next?

Apes Come Home will launch next Thursday, Feb. 29. 

For more web3 and NFT news, visit the Lucky Trader newsfeed.

Greg Solano, also known as CryptoGarga, is stepping back in as CEO of Yuga Labs with a promise of a cryptonative future and immediate action across its ecosystem.

The Deets

• Garga "reinvigorated" to regain CEO role. 
• BAYC LLC Formation: A new subsidiary to empower the Bored Ape Yacht Club with more autonomy.
• Otherside Vision: Aiming to become web3's living room, with a commitment to enhanced community engagement.
• Gaming Strategy: A dual approach focusing on fun and cryptonative mechanics for broader ecosystem growth.
• Community Engagement: Plans to increase interaction and communication with the community.

The Bulk

CryptoGarga, co-founder of Yuga Labs, announced his return as CEO in a move that signals a strategic pivot towards a more cryptonative focus for the company.

Garga provided immediate next steps and action items for all of the major Yuga Labse ecosystem items, starting with its flagship, Bored Ape Yacht Club.

First and foremost, he announced the establishment of the BAYC LLC as a subsidiary to Yuga Labs. The LLC aims to grant the BAYC team the autonomy needed to foster creativity and rapid execution of its vision. This structural change is designed to leverage the BAYC's community-driven success to new heights.

In parallel, the Otherside project is depicted as the future "living room of web3," a space for community gathering and engagement across various web3 ecosystems. Solano's vision for Otherside involves a deeply interactive development process, with increased communication and community input at its core.

The gaming strategy outlined by Solano emphasizes a "barbell approach," balancing mass-market appeal with cryptonative mechanics. Initiatives like Dookey Dash are highlighted as examples of engaging gameplay that can attract a wide audience, while undisclosed projects promise to deepen the cryptonative aspect of Yuga's gaming ventures.

🎤 Founder Feedback

❗Why It Matters

After lots of negative sentiment following the PROOF acquisition last week, Yuga Labs regains good community favor pushing back to its roots and shedding a bit of the "corporate" cloud that has shrouded the company in the last few years.

🔜 What's Next?

With increased communication and a clear action plan, the future under CryptoGarga's leadership promises much more from Yuga Labs' portfolio. 

For more web3 and NFT news, visit the Lucky Trader newsfeed.

Bored Ape Yacht Club announced major website revamp and a unique token-gated survey for direct community feedback in its "return to basics." 

The Deets

• Fresh Look: Introduction of the revamped Bored Ape Yacht Club website
• Community Voice: A token-gated survey in partnership with BlockSurvey.
• Security First: Emphasis on not connecting cold wallets for safety

The Bulk

Bored Ape Yacht Club (BAYC) is refreshing its digital presence with a significant website overhaul. Recognizing the need to stay current and interactive, the club has introduced a revamped website with a new digital hub that allows apes to undertake a delegation process, enhancing the sense of community and ownershi while staying secure. 

Additionally, BAYC launched a unique initiative to gather direct feedback from its members. The project partnered with BlockSurvey to conduct a token-gated survey. 

Two last initiatives indicate that new Bored Ape holders will soon be added to the BAYC Community Council, the Yacht Club will soon be able to travel back into the sewers for a reprise of Dookey Dash. 

This time though, Dookey Dash will be open to any and all players, with exclusive rewards open to Yuga Labs' asset holders. 

📊 By the Numbers 

While the market is currently shining on Pudgy Penguins, the Bored Ape Yacht Club floor is up 8.76% in the last seven days to 24.68 ETH. 

🔜 What's Next?

With Dookey Dash Unclogged around the corner, users can sign up for early access here.

For more web3 and NFT news, visit the Lucky Trader newsfeed.

Arbitrum, in partnership with Horizen Labs and Offchain Labs, unveiled an ApeCoin DAO idea for ApeChain, a dedicated blockchain using $APE as the native gas token, aiming to revolutionize onchain gaming.

The Deets

• New Collaboration: Arbitrum, Horizen Labs, Offchain Labs team up for ApeChain
• Native Token: $APE to serve as ApeChain's gas token
• Gaming Focus: ApeChain to be a nexus for onchain gaming, led by Horizen Labs
• Technical Edge: Utilizing Arbitrum’s AnyTrust technology for efficiency and affordability
• Overall Cost: No upfront compensation requested by potential partners

The Bulk

Arbitrum, known for leading the Ethereum scaling solution space, is collaborating with Horizen Labs and Offchain Labs to propose ApeChain be cemented on Arbitrum. Given Yuga Labs' focus on the gaming sector, Arbitrum noted that its vision of ApeChain intends to use $APE as its native gas token, levergaing Arbitrum's technical attributes and market share to create a robust gaming-centric blockchain ecosystem.

The initiative has garnered support from various partners including Magic Eden, Darewise, LayerZero Labs, and more, as outlined in the full proposal. 

Horizen Labs, serving as the growth lead, would focus on business development and onboarding for ApeChain, aligning with Yuga Labs' gaming strategy. Offchain Labs would contribute technical expertise, enhancing ApeChain's features, including potential implementations like hardcoded creator royalty enforcement.

None of the partners are seeking upfront compensation for the work, and its implementation would be funded by Arbitrum's Grant Program, if the idea moved forward as is. Instead, the group would receive some form of compensation from the revenue generated from ApeChain's data availability committee. 

❗️Why It Matters

ApeChain seems like all but an inevitablity at this point, and now multiple heavy hitters, including Optimism, Polygon, and Arbitrum are vying to be its home. If Yuga Labs wishes to cement itself as a major web3 gaming player, it will need a place for its ecosystem token and high-speed, cost-effective transactions. Will that be with Arbitrum's help?  

📊 By the Numbers

$APE has lagged relative to its web3 gaming token counterparts. The Yuga Labs' ecosystem token is up 4.4% in the last 24 hours to $1.68 and is ranked No. 101 in CoinGecko's marketcap rankings. 

🎤 Founder Feedback

🎬 Take Action

Learn more about the idea and provide your feedback via the ApeCoin DAO forum. 

For more web3 and NFT news, visit the Lucky Trader newsfeed.

Yuga Labs is partnering with Magic Eden to launch a creator-first Ethereum NFT marketplace by year's end.

The Deets

• Ethereum Marketplace: A new platform honoring creator royalties.
• Shared Vision: Strengthening the web3 ecosystem for content creators.
• Creator Royalties: A foundational commitment to the original artists.
• Exclusive Engagements: Yuga Labs to collaborate only with royalty-respecting platforms.

The Bulk

Yuga Labs and Magic Eden, are embarking on a groundbreaking journey. Together, they are crafting a new Ethereum marketplace slated to emerge by the close of the year. This alliance marks the first major Ethereum market endeavor that vows to uphold and honor creator royalties – a covenant reflecting their dedication to the artists powering the web3 wave.

Yuga Labs' decision to exclusively partner with marketplaces that honor this principle is a call for fairness in the creative domain, potentially leading to a broader acceptance of similar practices industry-wide.

❗Why It Matters

This partnership represents a paradigm shift in NFT marketplaces, placing creator rights and royalties at the forefront. Yuga Labs and Magic Eden's stance could set a new industry standard, but it remains to be seen if the bulk of trading liquidity flows to the upcoming marketplace. 

🎤 Founder Feedback

🔜 What's Next?

As the year progresses, keep an eye out for more details on this pioneering Ethereum marketplace, set to redefine how creator royalties are handled in the NFT space.

For more web3 and NFT news, visit the Lucky Trader newsfeed.

Yuga Labs and A BATHING APE® unveiled their exclusive BAPE® X BAYC collection, fusing early 2000s streetwear nostalgia with avant-garde fashion.

The Deets

• Limited Collection: Apparel, footwear, and accessories featuring iconic logos and mascots.
• Exclusive Pieces: Special tees for Bored Ape holders and BAPETAVERSE members, classic ABC camo pullovers.
• Remixed Footwear: The BAPE STA™ sneakers reinvented, complete with collectible ice rubber outsoles.
• Token-Gated Drop: The collection releases at ApeFest, then online for BAYC members, and globally in December.

The Bulk

Yuga Labs collaborated with the legendary streetwear brand BAPE® to launch a unique BAPE® X BAYC apparel line. This limited collection is a callback to the days when streetwear was a subculture with exclusive garments that blend the essence of both brands.

The lineup includes a coach's jacket featuring a Bored Ape-inspired design, tees showcasing Curtis the Ape and BABY MILO®, and the quintessential BAPE® ABC camo pullover hoodie.

In addition to the apparel, the collection features BAPE STA™ sneakers, a staple of streetwear's golden age, now revamped with a transparent outsole revealing Curtis. Only 1,000 pairs will be available, each uniquely numbered and accompanied by an additional set of BAPE® X BAYC camo laces, ensuring exclusivity and collectibility.

📊 By the Numbers

 Each piece from the collection underscores the exclusivity with limited edition items, such as the 1,000 individually numbered pairs of BAPE STA™ sneakers, amplifying the allure for collectors and fans alike.

🎤 Founder Feedback

🔜 What's Next?

BAYC members have the first pick at ApeFest, with subsequent releases set for BAPETAVERSE members and a wider global availability planned for December, just in time for the holiday season.

View more NFT and web3 news on the Lucky Trader newsfeed.

Yuga Labs CEO, Daniel Alegre, spoke candidly about his experience and the future of Yuga Labs ecosystem components, hinting at big changes and new initiatives while admitting flaws. 

The Deets

• Bored Apes: Major club with global presence emphasized with events like ApeFest in Hong Kong and list of partners. 
• CryptoPunks: Yuga's intensified efforts in elevating the stature and art collector appeal of CryptoPunks.
• Meebits: Transition to Otherside for a dynamic ownership experience.
• Otherside: Rapidly expanding development with help of partners. 

The Bulk

Yuga Labs CEO, Daniel Alegre, provided a detailed overview of his time at Yuga Labs and shared a snapshot of before and after for some of the biggest components of the Yuga Labs ecosystem.

For the Bored Ape Yacht Club, Yuga is still going global. A highlight of this strategy is the upcoming ApeFest which will be held in HongKong. This event is a testament to Yuga's commitment to its global community, ensuring they're part of something epic.When it comes to Made By Apes, Alegre mentioned that a handful of key businesses would be showcased during ApeFest, hinting at potential collaborations or features that the community should anticipate.

The CryptoPunks relationship with Yuga Labs has seen its challenges. However, Alegre detailed how Yuga has been working diligently to enhance the brand's recognition and stature. This includes collaborations with top-tier museums and strong community support measures.

Meebits has faced hurdles from a business standpoint, but Yuga Labs is innovating solutions. By integrating Meebits into Otherside and evolving them into a more interactive experience, Yuga aims to rejuvenate the brand and bolster its community engagement.

Otherside, Yuga Labs metaverse, will see rapid changes. With partnerships and acquisitions like Hadean, Big Rhino, and Roar Studios, Yuga Labs is determined to accelerate Otherside's evolution, aiming to meet the high expectations set by the community.

Lastly, on the gaming front, Yuga Labs acknowledges past shortcomings and is eager to learn and innovate further in this space. Specifically Alegre called out the fun and excitement of Dookey Dash, but acknowledged expectations have not been met for HV-MTL. 

🎤Founder Feedback

🔜 What's Next?

With the extensive plans for each component of the Yuga ecosystem, the community should brace for a flurry of announcements, collaborations, and innovative experiences in the coming months.

For more web3 and NFT news, visit the Lucky Trader newsfeed.

Yuga Labs shared more details about its its debut Yacht Club Open House on Nov. 5, 2023, in Kai Tak, Hong Kong.

The Deets

• Open House Aims: Provide insight into BAYC and foster dialogue among web3 industry leaders.
• Ticket Availability: Limited and sold on a first-come, first-served basis.
• Event Agenda: Topics range from the future of web3 gaming to the expansion of artists and museums in the digital space.

The Bulk

On November 5, 2023, Yuga Labs will unveil a unique experience - the Yacht Club Open House.

Directly on the heels of Yuga Labs' exclusive ApeFest 2023, the Open House emerges as a beacon for the broader public. Though the tickets are limited in number, those who snag them will get a front-row view into Yuga Labs' vision for the future immersive internet. The discussions are set to span the potential of gaming in web3 to the instrumental role of IP for brands. 

Attendees will get insights from renowned figures like Illa DaProducer, the 12x platinum Grammy-nominated music producer, and Yat Siu, Co-Founder of Animoca Brands. Other notable names include Eric Reid, Michael Figge, and many more from Yuga Labs.

🎤Founder Feedback

 🎬 Take Action 

Open House tickets are for sale now. 

For more web3 and NFT news, visit the Lucky Trader newsfeed.

Yuga Labs announced a restructuring, resulting in the elimination of various roles across the company.

The Deets

• Changes come six months after Daniel's leadership commenced at Yuga Labs.
• Key projects like "Made by Apes," Otherside, and CryptoPunks will continue.
• Partnerships with major brands such as Gucci and A Bathing Ape to remain a focus.
• Transition packages, including severance and job assistance, to be provided to affected employees.

The Bulk

Joining Yuga Labs half a year ago, CEO Daniel Alegere initiated a clear vision focusing on creative storytelling and community-building, which lie at Yuga's heart. Throughout this period, numerous projects were recognized that were either stretching the team too thin or demanding skills beyond their primary competencies.

This led to a comprehensive review of the projects, aligning them more closely with the company's core priorities. As a result, Yuga Labs decided to make certain organizational shifts. Projects such as Dookey Dash, Twelvefold, Made by Apes, the Punks Legacy Project, and collaborations with brands like Gucci and BAPE were celebrated. However, there were some challenges, especially in gaming execution.

With the aim of focusing on a select few key initiatives, Yuga Labs intends to collaborate with third parties that complement its strengths. Efforts will be directed towards community engagement, particularly for BAYC and CryptoPunks. The Otherside team will emphasize building new gaming experiences through partnerships, aiming for significant showcases in 2024. Additionally, the importance of public updates has been acknowledged, with commitments to more frequent updates.

🎤 Founder Feedback

🔜 What's Next?

While the restructuring primarily impacts US-based team members, an assessment on international teams is ongoing. More details will be provided in an upcoming All Hands meeting.

For more web3 and NFT news, visit the Lucky Trader newsfeed.

Sotheby's was added as a defendant to a lawsuit brought by Bored Ape Yacht Club collectors, alleging that the auction house participated in a "misleading promotion" of the NFTs to deceive investors, according to a first report from The Art Newspaper. 

The Deets

• A class-action lawsuit was filed in California against Yuga Labs, Sotheby's added in the amendment.
• The lawsuit claims the auction house endorsed the BAYC NFTs, leading to an artificial value inflation.
• Sotheby's previously auctioned 101 Bored Ape NFTs for $24 million in 2021. 
• The complaint indicates that the cryptocurrency exchange FTX, is not a traditional collector as suggested by Sotheby's representative.

The Bulk

Sotheby’s has been added as a defendant in a lawsuit regarding the deceptive promotion of Bored Ape Yacht Club NFTs. This comes in light of the auction where Sotheby’s sold 101 of these NFTs at $24 million, surpassing the pre-sale estimation of $12 to $18 million in 2021. The lawsuit suggests that this sale was instrumental in unjustly elevating the value perception of the NFTs.

The core contention is that Sotheby’s, through this sale and subsequent statements, gave Yuga Labs - the creators of the BAYC NFTs, an undue sense of authenticity among traditional collectors. Max Moore from Sotheby’s, after the sale, hinted that a traditional collector had acquired the NFTs.

However, the lawsuit contradicts this, stating that FTX, a cryptocurrency exchange, was the actual buyer. This alleged misrepresentation, as per the plaintiffs, erroneously signaled that BAYC NFTs had garnered mainstream traction.

🎤 Community Quotes

Sotheby's representatives have called the allegations "baseless." 

🧐 Wait, What? 

The Sotheby's inclusion comes as an amendment to a class action suit that first spotlighted Yuga Labs and celebrities and their promotion of Bored Ape Yacht Club. 

For more web3 and NFT news, visit the Lucky Trader newsfeed.