The wave of announcements about the metaverse seems to be never-ending: it’s Yuga Labs’ turn to plan a 200,000 plot sale. The startup that created the Bored Ape Yatch Club collection of non-fungible tokens (NFT) should soon announce the release of a game based on a new virtual world called MetaRPG.
Yuga Labs also tackles the metaverse
Yuga Labs is known in the world of non-fungible tokens (NFT) for being the startup behind the Bored Ape Yatch Club (BAYC) collection. It had already made a name for itself in recent days by announcing the purchase of the intellectual property of CryptoPunks and Meebits. Yesterday we learned that it plans to put virtual land for sale in a new virtual world of the metaverse.
We still have little information at the moment, except that the APECoin token project announced last year should see the light of day at the same time. On the other hand, beware, a token of the same name has exploded upwards from 2 to 17 cents in less than 48 hours. Don’t fall into the trap, this one has nothing to do with the project and has no liquidity, the real token we’re talking about here is not yet listed at the time of writing this article.
The metaverse game from Yuga Labs would have already been presented to investors in order to raise funds. It should be called MetaRPG and what we know today about its content is limited to the use of NFT to create and equip characters. The universe will also use a monetary system based on APECoin.
A pivotal year for the startup
In order to launch its virtual world, Yuga Labs will put 200,000 plots of land up for sale. These will be sold in two separate sales phases in $178 million each.
Last year, the startup had a net revenue of $127 million. With the new outlook, it expects to make $455 million this year.
It’s also worth noting that the Bored Ape Yatch Club last week announced a partnership with Animoca Brands, an NFTs game studio.
BAYC says this has been in the works for 7 months and unfortunately a Know Your Customer (KYC) verification process will be required, but that this project should, nonetheless, appeal to the community. This could perhaps be news related to the famous metaverse project of the parent company Yuga Labs, but we will have to wait for more concrete information before we can speculate.
If some NFT projects don’t deliver anything after their launch, we see here that this is not a generality and that some collections work to develop a real interaction around their creations. And it is necessarily easier when it is a project of scale such as the BAYC, which regularly exceeds its records.