Yuga Labs is coming back for more. That’s at least the word on the rumor mill, as a reportedly leaked document details an upcoming release, tentatively called ‘Mecha Apes,’ that could hit the market by the end of the year. Let’s take a look at the details that have hit the wire in the early hours of the leak, and what we can expect to see from Yuga before 2023.
Yuga Labs: Next Release On The Horizon?
Yuga Labs, of course, is best known for serving as the creators of powerhouse NFT project, Bored Ape Yacht Club. They’ve evolved BAYC into additional derivatives with strong success, including Bored Ape Kennel Club (BAKC) and metaverse land project, The Otherside. Additionally, Yuga has positioned itself as a dominant IP holder in the NFT space, acquiring projects such as CryptoPunks (which was once seen as the largest BAYC competitor when it comes to ‘blue chip’ NFTs).
Now, a new leaked report today that was first unveiled by Protos details what is supposedly expectations of a new NFT project from Yuga Labs, titled Mecha Apes, with a claimed target of raising $50M. Yuga has already seen a valuation at roughly $4B based on previous investments, which include the likes of Andreessen Horowitz (a16z), Animoca Brands, FTX Ventures, and more. The leaked images that Protos references have not been disclosed, leaving plenty of room for speculation on what could be next for Yuga Labs.
On Yuga’s Horizon Yuga Labs co-founder Garga has dismissed the report in a tweet, describing it as “fake news.”
Ethereum (ETH) based NFTs, such as Yuga Labs Bored Ape Yacht Club, have been the dominant players in the market, despite other blockchains desire to content. The upcoming Ethereum merge will likely only prove to solidify Ethereum’s position in the NFT market. | Source: ETH-USD on TradingView.com Featured image from Yuga.com, Charts from TradingView.com The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.
This op-ed represents the views of the author, and may not necessarily reflect the views of Bitcoinist. Bitcoinist is an advocate of creative and financial freedom alike.
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