A tweet this weekend from Greg “Garga” Solano, co-founder and CEO of Yuga Labs, has holders of the Bored Ape Yacht Club (BAYC) and other NFT collections from the top Web3 studio excited for the future.
The message from Solano’s official X account revealed plans to release a new NFT game and other initiatives to give back to its community. The first project is being created through the ‘ODK’ platform in order to enhance the creation of 3D games and immersive social experiences in the crypto space.
Solano also announced ‘Project Dragon,’ an action game that was built to host large-scale team battles, and hinted at more initiatives within the Otherside metaverse, the virtual world created for BAYC and Mutant Ape (MAYC) members.
The announcement came as part of the studio’s “10-day check-in,” an attempt to be more transparent and forthcoming with the studio’s direction. In the tweet, Solano admitted that he was “still not back to an appropriate depth and command of product,” but said there were still many developments he’s “excited about.”
In February this year, Solano stepped back in as the company’s CEO, replacing Daniel Alegre, who ran the company for less than a year. When the news broke, Solano tweeted that he intended to run Yuga Labs with a “crypto-native focus across the entire company,” a move that was welcomed by the community.
In this weekend’s tweet, Solano also mentioned ApeFest, a real-life event to be hosted in Lisbon, Portugal between October 18th and 20th of this year. He said the event will feature “the best ApeFest merch drop yet.”
Finally, Yuga Labs will be ramping up Dookey Dash by offering a simplified game mode and a competition for top players with a prize worth $1 million. The studio will also be improving “clubhouse,” the Web3 community for BAYC and MAYC holders.
Yuga Labs Continues to Push Forward
Back in April 2022, Yuga Labs’ top collection BAYC hit an all-time high (ATH) floor price of 153.7 ETH. Since then, the floor price has been on the decline. It currently stands at 11.9 ETH, down significantly from its ATH. But despite the drop in floor price, Yuga Labs has been busy trying to bring value to its community.
At Rarity Sniper, we’ve covered several articles about Yuga Labs building in the space. Here are some recent headlines about Yuga Labs:
- April 2024. Yuga Labs, BMW, Forbes Web3 & Others Join Arts DAO Fest in Dubai
- February 2024. Magic Eden, Yuga Labs Debut Ethereum NFT Marketplace
- February 2024. BAYC Co-Founder Greg Solano Takes Helm as Yuga Labs CEO
- January 2024. Popular ‘Dookey Dash’ Game From Yuga Labs Returns
- December 2023. Yuga Labs New “CryptoPunks” 721 Wrapper Revealed
- November 2023. Yuga Labs & Magic Eden to Launch Creator Royalty NFT Marketplace
Whether Greg Solano can turn Yuga Labs around remains to be seen. After all, he’s only been CEO for about three months and a return to all-time high floor prices will likely take some time. But it’s clear from his tweets that he’s taking the challenge seriously and doing everything he can to return the studio to its glory days.
Furthermore, despite the tough times, Yuga Labs still owns CryptoPunks, BAYC, MAYC, and Meebits, and remains one of the top NFT studios in the world. At Rarity Sniper, we’ll keep you updated on any developments to the story.