Yuga Labs Announces Restructuring, Eliminates Roles Across Company

Yuga Labs Announces Restructuring, Eliminates Roles Across Company
In this post

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.

๐ŸŽค Founder Feedback

I strongly believe that Yuga will forever change how consumers and brands interact. We have built a powerful brand by granting IP rights, something that was considered impossible in the media and entertainment industry until we came along.Daniel Alegre

๐Ÿ”œ 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.

Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice. AI may have assisted in the creation of this content.