• Yuga Labs is a digital asset and blockchain technology company based in Miami, Florida.
• The company is most famous for creating the Bored Ape Yacht Club NFT collection and several other supporting projects, like the Otherside metaverse.
• Yuga extended its reach and prestige within the NFT world by acquiring ownership of other notable collections, like Cryptopunks and Meebits.
What Is Yuga Labs?
Yuga Labs is a digital asset and blockchain technology company based in Miami, Florida. The company is best known for introducing the Bored Ape Yacht Club (BAYC) NFT collection in April 2021, which helped bring millions of eyes to the cryptocurrency industry. In addition, Yuga Labs has acquired numerous iconic NFT collections such as Cryptopunks and Meebits to further bolster its presence within the non-fungible token community. Their success has also seen them venture into new projects such as creating an immersive metaverse for their products as well as launching companion collections such as Bored Ape Kennel Club and Mutant Ape Yacht Club.
Yuga Labs History
The four pseudonymous co-founders of Yuga Labs began drafting sketches of BAYC back in February 2021 before minting 10,000 tokens two months later on Ethereum’s blockchain with a 0.08 ETH mint price – all of which sold out within 12 hours! Since then, the floor price of BAYC has skyrocketed to over 130 ETH or $300K+. This meteoric rise saw them expand their vision for 2022 with new acquisitions and projects that have made them one of the largest digital collectible companies today.
Many mistakenly believe that ApeCoin (APE) belongs to Yuga Labs when actually it was created by a separate legal entity known as ApeCoin DAO – a community-run group operating independently from Yuga Labs itself. APE still remains an integral part of their ecosystem nonetheless.
Yuga’s Expansion Plans
Looking ahead at what’s next for Yuga Labs, they plan on continuing to grow beyond just simple non-fungible tokens but rather craft an immersive metaverse where users can interact with their creations while collecting more iconic NFTs along the way!
In conclusion, since their launch in April 2021 with their flagship product – Bored Apes Yacht Club – , Yuga Labs have continued to make waves within the cryptocurrency industry through building innovative products & services while expanding their presence & portfolio through acquisitions of renowned NFTs like Cryptopunks & Meebits – setting themselves up nicely to become one of blockchain’s largest companies!