MIAMI–(BUSINESS WIRE)–Yuga Labs, web3 leader and home of the Bored Ape Yacht Club (BAYC), today confirmed the acquisition of WENEW and their flagship NFT collection, 10KTF.
WENEW is an NFT powerhouse known for web3-centric partnerships with famous brands such as Louis Vuitton, Playboy, Wimbledon, Gucci, Puma and others; in addition to these high-profile collaborations, WENEW is home to the narrative-driven NFT collection, 10KTF.
10KTF is an interoperable digital storefront where holders from top NFT collections (BAYC, Cool Cats, Moonbirds and others) can create and collect unique NFTs featuring their digital avatar on various metaverse-ready digital wearables. Attracting legions of devoted community members, the collection has gained popularity by releasing serialized and narrative-driven content from fictional store vendors, Wagmi-san.
“Figge, Beeple and the WENEW team have found a way to create an engaging serialized story for web3 while also managing to tap into the passion people have for their digital avatars and customization,” said Greg Solano, co-founder of Yuga Labs. “Storytelling and world-building are fundamental at Yuga, and I’m thrilled that we get to work with the creative minds at WENEW in a much more robust way. The possibilities of what we can do together are endless.”
“We built this company with storytelling at the forefront,” said Michael Figge, co-founder and CEO of WENEW. “Yuga’s first-class contribution to history, experiences and community was a great inspiration. Their principles of transparency inspired the interoperability of 10KTF. We are excited to join Yuga and continue to build amazing things in NFTs and web3 together.”
Following the acquisition, Figge will join Yuga’s leadership team as Chief Content Officer, responsible for pushing the boundaries of imagination and creativity at Yuga through out-of-the-box content strategies and experiences. Beeple, aka Mike Winkelmann, will join Yuga Labs as an advisor.
Figge brings a unique creative lens to Yuga from his experience at Possible, where he served as co-founder and creative director, having created immersive visual experiences for the Super Bowl halftime show, Coachella, Louis Vuitton, dozens of international concert tours and League of Legends Worlds for which he was awarded an Emmy in 2021.
In addition to Figge, nearly 20 WENEW employees will transfer to Yuga, bringing Yuga’s full-time workforce to over 100 people worldwide.
About Yuga Labs
Yuga Labs is a web3 company that shapes the future through storytelling, experiences and community. Guided by the belief that the potential of web3 can be realized when we start with imagination, not limitations, Yuga’s initiatives aim to reinvent what real tools for NFTs look like and push the space forward as a whole. Since launching in April 2021 with the flagship collection Bored Ape Yacht Club, they have made headlines as one of the first companies to issue IP licenses to their NFT holders, bought and released rights to other top collections (CryptoPunks and Meebits), and created web3 history of record synchronized player participation in their latest initiative, Otherside. Built with the community, Otherside is one of the most ambitious interactive metaverse projects to date, rebelling against traditional walled gardens of gaming spaces. In March 2022, Yuga Labs raised a $450 million seed round at a $4B valuation.
For more information about Yuga Labs visit www.yuga.com or email [email protected].
