Yuga Labs, the creator of the Bored Ape Yacht Club, is undergoing significant restructuring, including layoffs and voluntary departures, to focus on its 3D Otherside metaverse project. The company is spinning off HV-MTL and Legends of the Mara, which were previously acquired by Faraway. This decision comes as Yuga Labs faces market challenges but remains committed to streamlining its operations into a smaller, crypto-native team. The Bored Ape Yacht Club recently reached an all-time high of 153.7 ETH in May. Following the October layoffs and a CEO switch, more layoffs were made.
CRYPTO HIRING: Following October layoffs and a CEO switch, Yuga Labs made more layoffs Friday https://t.co/QgA2VEwC3t
I was just laid off from @yugalabs I was hired to infiltrate the CryptoPhunks community, get close to Pauly and collect information on phunks, Pauly, and general sentiment. Yuga (and parent) has always considered Phunks a genuine threat to the status quo and Yugas success.… https://t.co/wy1X4m0j2P
Does anyone work at @yugalabs anymore?
Yuga Labs, creator of Bored Ape Yacht Club, faces market challenges but remains committed to its Otherside metaverse project. https://t.co/kF1oFg1rY8
.@yugalabs restructures company, cuts roles to focus on smaller crypto-native team. https://t.co/RJdcf6dJDT https://t.co/rnTdOnc9rk
Yuga Labs will undergo a restructuring, layoffs and accept voluntary departures, and will focus on game development for 3D Otherside. Spinning off HV-MTL and Legends of the Mara (both of which were earlier acquired by Faraway). BAYC reached an all-time high of 153.7 ETH in May…
This is a hard day. Some of the people let go today were very close to me, some I have known for over a decade. I want them to succeed as much as I want Yuga to succeed. To say Yuga’s decision was difficult is putting it lightly, but I know that if we’re going to get back to our… https://t.co/trduWqADoT
Much love to all affected by Yuga layoffs ❤️