Due to NFT Challenges Yuga Labs Prioritise ‘Otherside’
The company behind the Bored Ape Yacht Club (BAYC) NFT project, Yuga Labs, has completed its restructuring to navigate industry challenges. This development was announced by CEO Daniel Alegre, who stated they will focus on executing "Otherside," a gamified and interoperable metaverse project initiated in March 2022. Alegre emphasised the technical and creative challenges of building an immersive metaverse platform. Yuga Labs co-founder Greg Solano had previously mentioned the need for restructuring to ensure long-term success, but did not provide specific details about the number of employees who left Yuga Labs. This news comes as a US appeals court showed scepticism about dismissing Yuga Labs' trademark lawsuit against artist Ryder Ripps over BAYC NFT copies.
