<\/p>\n
Yuga Labs<\/a>, the company behind Bored Ape Yacht Club, has laid off a portion of its staff according to a blog post published by the firm on Oct. 6<\/a>.<\/p>\n The company\u2019s CEO, Daniel Alegre, wrote:<\/p>\n \u201cAfter \u2026 thoughtful consideration, I have decided that we need to restructure the Yuga Labs teams. The implication of these changes is that a number of roles have been eliminated across the company, impacting some of your colleagues.\u201d<\/p>\n<\/blockquote>\n Alegre attributed the need for a shift in strategy to underwhelming launches in specific areas, particularly within the company\u2019s gaming initiatives<\/p>\n Alegre revealed that, as part of the restructuring, Yuga Labs will delegate certain activities to external, third-party companies. Yuga Labs\u2019 internal development teams, meanwhile, will focus on web3 efforts and Otherside \u2014 the company\u2019s metaverse platform.<\/p>\n Allegre said elsewhere in his letter that the company will go in \u201call-in on [its] Otherside strategy.\u201d He noted that Otherside will launch new gaming experiences in 2024 and will form long-term partnerships to complement Yuga Labs\u2019 own efforts.<\/p>\n Alegre also commented on the status of certain high-profile products. He said that Bored Ape Yacht Club<\/a> will expand a program called \u201cMade by Apes\u201d, which acts as a licensing model and community showcase for fan creations. Moreover, Alegre hinted at the launch of a gaming experience tied to the Bored Ape product line, slated for 2024.<\/p>\n Next, Allegre noted Yuga Labs will continue to manage CryptoPunks<\/a> \u2014 an NFT series that Yuga Labs acquired in May 2022<\/a> \u2014 by \u201cimproving and streamlining\u201d the Punks app. He indicated that a book about the NFT collection is still in progress.<\/p>\n While those two efforts will remain active, Alegre suggested that Yuga Labs will fold its Meebits and 10KTF teams into its Otherside team.<\/p>\n Yuga Labs did not describe any specific market or revenue trends leading to its staff reductions. However, activity in the NFT market has generally declined<\/a> despite generating a record-breaking $55 billion<\/a> in revenue in 2022. Despite Yuga Labs\u2019 role in some of the largest NFT collections, it is unlikely that it has escaped this trend entirely.<\/p>\n The post Yuga Labs cuts staff as part of larger restructuring<\/a> appeared first on CryptoSlate<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Yuga Labs, the company behind Bored Ape Yacht Club, has laid off a portion of its staff according to a blog post published by the firm on Oct. 6. The company\u2019s CEO, Daniel Alegre, wrote: \u201cAfter \u2026 thoughtful consideration, I have decided that we need to restructure the Yuga Labs teams. The implication of these […]<\/p>\n","protected":false},"author":2,"featured_media":139596,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-169794","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/169794","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=169794"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/169794\/revisions"}],"predecessor-version":[{"id":169795,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/169794\/revisions\/169795"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/139596"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=169794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=169794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=169794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
BAYC, CryptoPunks efforts will remain active<\/h2>\n