Yuga Labs sails into Metaverse: Restructuring complete
The post Yuga Labs sails into Metaverse: Restructuring complete appeared on BitcoinEthereumNews.com. TLDR Yuga Labs restructures, shifting focus to the metaverse with Otherside. Employee well-being was a priority during Yuga Labs’ strategic overhaul. Legal challenges persist as Yuga Labs defends BAYC NFT trademarks. Yuga Labs, the creator behind the popular Bored Ape Yacht Club (BAYC) nonfungible token (NFT) project, has completed its restructuring efforts, aligning the company’s resources toward its ambitious metaverse project, Otherside. CEO Daniel Alegre announced the finalization of the restructuring, emphasizing the company’s commitment to building an immersive metaverse platform and assuring support for departing team members. Yuga Labs initiated its restructuring process in early October, acknowledging the evolving challenges within the NFT industry. Co-founder Greg Solano, in an announcement on October 6, stated that the restructuring aimed to position the company for long-term success. While specific details regarding the number of employees affected were not disclosed, the company remains a formidable force in the industry with over 120 employees. I want to address some of the feedback the company and I have been receiving from many of you recently. I respect the relevant, pointed feedback as I know it comes from a place of wanting to see improvements in our Yuga communities. First, I will start with sharing some advice… — Daniel Alegre (@dalegre) October 18, 2023 Alegre highlighted the importance of this restructuring, emphasizing the company’s renewed focus on their metaverse project, Otherside. This ambitious endeavor, launched in March 2022, envisions a gamified and interoperable metaverse experience. In his announcement, Alegre underscored the complexity of developing an immersive metaverse, citing both technical and creative challenges. He expressed confidence in Otherside’s potential, stating, “Otherside is a very important bet for Yuga, and when our creative team brought the concept for Meetropolis up to my leadership team, making it a tentpole experience for Otherside felt like a slam dunk.”…
The post Yuga Labs sails into Metaverse: Restructuring complete appeared on BitcoinEthereumNews.com.
TLDR Yuga Labs restructures, shifting focus to the metaverse with Otherside. Employee well-being was a priority during Yuga Labs’ strategic overhaul. Legal challenges persist as Yuga Labs defends BAYC NFT trademarks. Yuga Labs, the creator behind the popular Bored Ape Yacht Club (BAYC) nonfungible token (NFT) project, has completed its restructuring efforts, aligning the company’s resources toward its ambitious metaverse project, Otherside. CEO Daniel Alegre announced the finalization of the restructuring, emphasizing the company’s commitment to building an immersive metaverse platform and assuring support for departing team members. Yuga Labs initiated its restructuring process in early October, acknowledging the evolving challenges within the NFT industry. Co-founder Greg Solano, in an announcement on October 6, stated that the restructuring aimed to position the company for long-term success. While specific details regarding the number of employees affected were not disclosed, the company remains a formidable force in the industry with over 120 employees. I want to address some of the feedback the company and I have been receiving from many of you recently. I respect the relevant, pointed feedback as I know it comes from a place of wanting to see improvements in our Yuga communities. First, I will start with sharing some advice… — Daniel Alegre (@dalegre) October 18, 2023 Alegre highlighted the importance of this restructuring, emphasizing the company’s renewed focus on their metaverse project, Otherside. This ambitious endeavor, launched in March 2022, envisions a gamified and interoperable metaverse experience. In his announcement, Alegre underscored the complexity of developing an immersive metaverse, citing both technical and creative challenges. He expressed confidence in Otherside’s potential, stating, “Otherside is a very important bet for Yuga, and when our creative team brought the concept for Meetropolis up to my leadership team, making it a tentpole experience for Otherside felt like a slam dunk.”…
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