Yuga Labs, the company that launched Bored Apes Yacht Club, Mutant Apes Yacht Club, Bored Apes Kennel Club, and the Otherside land tokens, has plans to launch yet another non-fungible token (NFT) collection.
According to a report leaked on Thursday, Yuga Labs will release an NFT collection of Mecha Apes, in a plan expected to raise a further $50 million.
The plan should help to top up the Yuga Labs piggy bank after the firm raised $450 million in seed funding this March as well as $600 million from Otherside NFT sales.
A steady flow of hot NFTs
Yuga Labs have become quite adept at launching NFT collections since they launched Bored Apes Yacht Club in April 2021. The company has since been building out the ecosystem with a string of additional products.
Now it appears that the highly successful firm could yet launch another set of non-fungible tokens before the year is out.
According to a leaked document seen by Protos, the exact nature of the Mecha Apes cannot be stated. What can be said with certainty is that Yuga Labs has already pre-positioned the “Mecha” concept to some degree, as Mecha Pieces were a part of their Otherside land NFT collection.
This in turn has led to speculation that Mecha Pieces may yet play some greater role in the Bored Apes ecosystem, and as a consequence could be undervalued.
Big business
Besides launching its own NFT collections, Yuga Labs has also been quite aggressive at capturing other major properties in the space.
In March the corporation announced that it had acquired Cryptopunks and Meebits from Larva Labs.
Yuga Labs currently enjoys a valuation of $4 billion and with further NFT collections in the pipeline it is possible that the valuation could continue to climb northwards.
Yuga Labs’ monkey business has certainly proved profitable thus far.
Trusted
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
