Yuga Labs acquires 10KFT and WENEW Labs | NFT CULTURE | Web3 Tradition NFTs & Crypto Artwork

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WENEW and Yuga share a ardour for creativeness and storytelling; acquisition will speed up joint efforts to deliver extra creativity into web3

Co-founder and CEO of WENEW, Michael Figge, to affix Yuga as Chief Content material Officer; Beeple, aka Mike Winkelmann, to affix Yuga as an advisor

Yuga Labs, web3 chief and residential of the Bored Ape Yacht Membership (BAYC), at this time confirmed the acquisition of WENEW and its flagship NFT assortment, 10KTF.

“Storytelling and world-building are foundational at Yuga and I’m thrilled that we get to work with the inventive thoughts hive at WENEW in a way more sturdy means. The probabilities of what we will do collectively are countless.”

WENEW is a NFT powerhouse recognized for web3-centric partnerships with celebrated manufacturers reminiscent of Louis Vuitton, Playboy, Wimbledon, Gucci, Puma, and others; along with these high-profile collaborations, WENEW is residence to the narrative-driven NFT assortment, 10KTF.

10KTF is an interoperable digital storefront the place holders from prime NFT collections (BAYC, Cool Cats, Moonbirds, and others) can mint and acquire one-of-a-kind NFTs that includes their digital avatar on varied metaverse-ready digital wearables. The gathering has attracted legions of devoted neighborhood members, gaining reputation by releasing serialized and narrative-driven content material from fictional store purveyor, Wagmi-san.

“Figge, Beeple, and the WENEW workforce have discovered a method to create a fascinating serialized story for web3, whereas additionally managing to faucet into the eagerness individuals have for his or her digital avatars and customization,” mentioned Greg Solano, co-founder of Yuga Labs. “Storytelling and world-building are foundational at Yuga and I’m thrilled that we get to work with the inventive thoughts hive at WENEW in a way more sturdy means. The probabilities of what we will do collectively are countless.”

“We constructed this firm with storytelling on the forefront,” mentioned Michael Figge, co-founder and CEO of WENEW. “Yuga’s first-class contributions to story, experiences, and neighborhood had been an enormous inspiration. Their ideas of openness impressed the interoperability of 10KTF. We’re excited to affix Yuga and proceed constructing superb issues in NFTs and web3 collectively.”

Following the acquisition, Figge will be a part of Yuga’s management workforce because the Chief Content material Officer, chargeable for pushing the boundaries of creativeness and creativity at Yuga via out-of-the-box content material methods and experiences. Beeple, aka Mike Winkelmann, will be a part of Yuga Labs as an advisor.

Figge brings a novel inventive lens to Yuga from his expertise with Attainable, the place he served as co-founder and Artistic Director, having architected immersive visible experiences for the Tremendous Bowl halftime present, Coachella, Louis Vuitton, dozens of worldwide live performance excursions, and League of Legends Worlds for which he was awarded an Emmy in 2021.

Along with Figge, practically 20 WENEW staff will transfer over to Yuga, bringing Yuga’s full-time employees to over 100 individuals all over the world.

About Yuga Labs

Yuga Labs is a web3 firm shaping the long run via storytelling, experiences, and neighborhood. Guided by the assumption that the potential of web3 could be realized once we begin with creativeness, not limitations, Yuga’s initiatives purpose to reinvent what real-world utility for NFTs appear to be and push the house ahead as an entire. Since their launch in April 2021 with flagship assortment Bored Ape Yacht Membership, they’ve made headlines as one of many first corporations to launch IP licenses to their NFT holders, acquired and launched rights to different prime collections (CryptoPunks and Meebits), and made web3 historical past with record-breaking synchronized participant participation of their latest initiative, Otherside. One of the vital bold interactive metaverse tasks up to now, Otherside is constructed with the neighborhood, rebelling towards conventional walled gardens in gaming areas. In March 2022, Yuga Labs raised a $450M seed spherical at a $4B valuation.

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