Wylie Aronow said he’s been seeing a number of tweets this week asking when he’s planning to return to the helm at Yuga Labs.
Yuga Labs Confirms UVA-A Emitting Lights Cause of ApeFest Eye Issues
Numerous participants exhibited signs of photokeratitis, an ailment resulting from ultraviolet (UV) light exposure, after last weekend’s event.
Nifty News: The Simpsons roast NFTs, Yuga Labs exec departs after anti-semitic tweets and more
The Simpsons poked fun at NFTs in their annual halloween special but degens still managed to take advantage of the publicity to hoist an NFT collection to near top of the charts.
Ryder Ripps ordered to pay Yuga Labs $1.6M in copyright lawsuit
The NFT artists were also ordered to cover Yuga Labs’ legal fees after determining the trademark infringement constituted an “exceptional case.”
CryptoPunk holders offered physical versions of their NFTs for 48 hours
Online art store Avante Art is offering print copies of CryptoPunks for the next 48 hours through a partnership with CryptoPunks brand owner Yuga Labs.
Nifty News: Yuga cuts staff, NFT trading volume on Mythos Chain surges and more…
Yuga Labs CEO Daniel Alegre said the firm was stretching itself thin by taking on too many projects, and will now focus on its core aims with a smaller team.
Meta ‘ruined’ the term metaverse, but now it’s evolving: Yuga Labs CEO
While Meta’s Horizon Worlds is suffering from a low user base, metaverse platforms have focused on building, says Yuga Labs CEO Daniel Alegre.
Nifty News: Adidas unveils resident Web3 artists, Mutant Ape sells for 500 ETH and more…
Yuga Labs is gearing up to launch a new game in the Otherside metaverse, but its not 3D, while NFT trading volume for NFL All Day pumped 570% over the past seven days.
OpenSea Makes Shift To Optional Royalty Model – A Deal-Breaker For Yuga Labs?
Yuga Labs – creators of the popular Bored Ape Yacht Club (BAYC) NFT collection – has unveiled its plans to cut ties with NFT marketplace OpenSea. This comes as a response to the platform’s proposed shift to an optional royalty system.
On Thursday, August 17, OpenSea announced that it is changing its creator fees framework, making royalties optional for new collections after August 31, 2023. The NFT marketplace also disclosed that it would disable the Operator Filter, a feature that enforces creator royalties.
According to the announcement, NFT collections that utilized the Operator Filter up until August 31 will have their creator royalties enforced till February 29, 2024, when the fees will become optional.
In the blog post, OpenSea explained the rationale behind its decision, saying the Operator Filter was designed to empower creators with greater control. However, the marketplace claims that it has not received the much-needed acceptance in the web3 ecosystem.
Yuga Labs Responds To OpenSea’s Decision
On Friday, August 18, Yuga Labs published an open letter on X (formerly Twitter), subtly criticizing OpenSea’s decision to make creator fees optional on all secondary sales for all collections by February 2024. The BAYC creator also disclosed its plans to wind down support for OpenSea’s SeaPort, a marketplace protocol that enables the buying and selling of NFTs.
Daniel Alegre, CEO of Yuga Lab, said in the response:
Yuga Labs will begin the process of sunsetting support for OpenSea’s SeaPort for all upgradable contracts and any new collections, with the aim of this being complete in February 2024 in tandem with OpenSea’s approach.
Alegre noted that while the purpose of NFTs has been to revolutionize true ownership of digital assets, it has also been about empowering artists and creators. “Yuga believes in protecting creator royalties so creators are properly compensated for their work,” he added.
Yuga Labs’ stance will likely be a significant blow to OpenSea, but perhaps not one the marketplace wouldn’t have foreseen. In January, the BAYC creators blacklisted about four marketplaces – with an optional royalty model – from its Sewer Pass collection.
OpenSea Halts Support For The BNB Smart Chain
OpenSea also recently announced its decision to disable the minting and listing of NFTs on the BNB smart chain. According to the post on X, this move was informed by the marketplace’s “need to align resources with the most promising efforts”.
The NFT platform wrote in the announcement:
Starting today (August 18, 2023), you will no longer be able to create new listings for or make new offers on BSC NFTs. However, you will still be able to view, discover, and transfer BSC NFTs on our site.
This latest development brings OpenSea’s total supported chains down to 10, including Arbitrum, Avalanche, Ethereum, Optimism, Polygon, Solana, and the recently-added Base and Zora.
Yuga Labs to wind back from OpenSea over its axing of royalty enforcements
Yuga Labs said it will start winding back OpenSea support for “all upgradable contracts and any new collections” following the announcement from the NFT marketplace.
NFT Trading Is Ice Cold But Developers Are Still Hot for Web3
This week, new reports were released that point to a major slowdown in NFT trading. Plus, Etihad Airways will soon let its community of frequent fliers stake NFTs for miles.
Animoca Brands-Backed Game ‘Wreck League’ Puts Bored Apes Into the Storyline
The new game, launching in the next few weeks, will allow players to assemble giant robotic characters using collectible NFT parts.
July Was a Terrible, No Good, Very Bad Month For NFTs, DappRadar Report Shows
NFT trading volume declined 29% and the number of sales dropped 23% from June, while Yuga Labs collections’ dominance slipped.
Nifty News: Yuga Labs to buy metaverse studio, Etihad NFT staking to take off and more
Roar Studios will be acquired by Yuga Labs as the latter looks to onboard talent for its still-in-development Otherside metaverse.
Yuga Labs Acquiring Roar Studios to Accelerate ‘Bold Vision’ for Otherside
The Roar team will “contribute their innovative technology, specialized expertise and leadership” to Yuga Labs as it continues its ambitious growth plans for Otherside.
Yuga Labs Hopes to Rile Up Its Bored Apes With Latest Otherside Demo
The Web3 company has been laser-focused on building out its Otherside metaverse this past year. The latest live demo in Los Angeles hopes to revive interest among its forgotten Bored Ape community.
Nifty News: The Flash goes Web3, Yuga Labs still working hard on ‘audacious’ Otherside project and more…
The Sandbox added a new major IP to its virtual world, a portfolio management startup raised $3.6 million and The Flash is getting NFTs.
Collectors Are Bored of Apes and Don’t Want to Pay Royalties
This week, the floor price of the Bored Ape Yacht Club NFT collection dropped to its lowest price in nearly two years, leading to questions about the collection’s value. But floor price is just one metric used to value NFTs – experts explain that there are other important factors in assessing what an NFT is worth.
Bored Ape Yacht Club NFT Collection Floor Price Sinks to 20-Month Low
The floor price of the Yuga Labs NFT collection fell to 27.4 ETH, or about $53,000 on Sunday evening before rebounding slightly.
It’s Game On for Web3: How Gaming Will Onboard a Billion People
While other industries like entertainment and loyalty programs have the potential to onboard millions of new users into Web3, gaming provides fertile ground for the seeds of mass adoption. Gamers are already familiar with virtual currency and understand how to buy and earn in-game assets. And while there are nearly 8 billion people in the world, over 3 billion of us play video games pointing to a considerable amount of the population primed for a gamified digital future.