Yuga Labs Adds WENEW, 10KTF to NFT Empire in Content-Driven Acquisition

Yuga Labs, the creator of Bored Ape Yacht Club (BAYC) has acquired WENEW, a Web3 ecosystem, and its flagship NFT collection 10KTF. WENEW, founded by artist Beeple, boasts partnerships with luxury brands such as Louis Vuitton. The acquisition expands Yuga's portfolio of popular NFT projects and adds WENEW's creative team and interoperable digital storefront to its capabilities.

Yuga Labs Acquires Web3 Ecosystem WENEW and Flagship NFT Collection 10KTF, Expanding Its NFT Empire

In a strategic move, Yuga Labs, the parent company of the popular Bored Ape Yacht Club (BAYC), has acquired Web3 ecosystem WENEW and its flagship NFT collection 10KTF. This acquisition further expands Yuga Labs' already dominant portfolio of non-fungible token (NFT) projects.

WENEW, a Web3 ecosystem that seamlessly intertwines art, fashion, and technology, boasts partnerships with global luxury brands such as Louis Vuitton and Gucci. Co-founded by the renowned artist Mike Winkelmann, aka Beeple, alongside crypto visionaries Guy Oseary and Michael Figge, WENEW has established itself as a leader in the Web3 space. The company's flagship NFT collection, 10KTF, has gained immense popularity, becoming an interoperable digital storefront where holders of top NFT projects, including BAYC, Moonbirds, and others, can mint exclusive digital wearables.

"Figge, Beeple, and the WENEW team have ingeniously created a captivating serialized story for Web3," said Greg Solano, co-founder of Yuga Labs, in a press release. "Their ability to harness the passion people have for their digital avatars and customization is remarkable. Storytelling and world-building are fundamental to Yuga, and we are thrilled to collaborate with the creative minds at WENEW on an even grander scale."

Michael Figge will join Yuga Labs' leadership team as its Chief Content Officer, bringing his expertise in immersive visual experiences and storytelling to the company. Winkelmann will also join as an advisor, further strengthening Yuga Labs' creative vision. Figge previously co-founded and served as the creative director of Possible, an entertainment company renowned for producing immersive visual experiences for major fashion houses and high-profile events such as Coachella and the Super Bowl halftime show.

Following the acquisition announcement, Yuga Labs hinted at integrating 10KTF into Otherside, its gamified and interoperable metaverse platform. This integration opens up exciting possibilities for users to customize their virtual avatars and interact with the Otherside environment in new and immersive ways.

"Welcome to the Otherside, Wagmi-san," tweeted Othersidemeta, Yuga Labs' official Twitter handle for Otherside, accompanied by a cryptic image.

Yuga Labs has been on an aggressive expansion path, acquiring major NFT projects and developing interactive experiences within the Web3 landscape. In March, the company acquired the iconic CryptoPunks and Meebits NFT collections, releasing commercial rights to their holders. Yuga Labs has also created additional NFT collections, including Bored Ape Kennel Club (BAKC) and Mutant Ape Yacht Club (MAYC). The company recently launched ApeCoin (APE), a governance token that grants holders voting rights on future developments within the Yuga ecosystem. Yuga Labs' estimated valuation recently reached a staggering $4 billion.

The acquisition of WENEW and 10KTF is a testament to Yuga Labs' commitment to building a robust and compelling NFT ecosystem. With its unparalleled storytelling abilities and immersive experiences, WENEW will undoubtedly contribute to Yuga Labs' vision of creating a vibrant and engaging world for NFT enthusiasts.

Sales of Yuga Labs NFT projects, including BAYC, MAYC, Otherdeed, and 10KTF, surged on Monday morning, dominating the charts on the leading NFT marketplace, OpenSea. This surge in trading activity underscores the market's confidence in Yuga Labs' strategic direction and its ability to drive innovation and value within the NFT space.

As the Web3 landscape continues to evolve, Yuga Labs is positioned as a leading force, shaping the future of NFTs and defining the immersive experiences that will characterize the metaverse. The acquisition of WENEW and 10KTF is a bold step forward in the company's mission to create a truly captivating and interconnected digital realm.