What Yuga Labs Wants to Build After Raising $450 Million – Marketingwithanoy

Country, they make a lot of it

The Yuga Labs February’s investor deck is a fascinating document that brings together gaming, a new currency, and an ever-expanding pool of digital assets that can be bought and sold by fans of Yuga’s well-known NFT project Bored Ape Yacht Club.

I ran through the deck again last night and this morning to get a better handle on the company’s financials, expectations and business promise. But we can’t really get into those matters until we talk about what the company has in mind — consider that Yuga has raised $450 million at a valuation of $4 billion, a deal it announced earlier this week.

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No one has more fun than the web3 folks today, as they are in the almost unique position of their current fascination (blockchain-based assets and related applications) also becoming the subject of wide investor interest and consumer demand. That doesn’t happen too often.

With popular NFT projects and some evidence of the ability to use one collection of digital assets to grow another, Yuga has ambitious plans for the coming years. It also has a new half billion in capital to back its vision. Let’s talk this morning about what it wants to build and how the economy is shaking out of it.

If everything goes according to plan, Yuga is about to make a lot of money.

Universe of the Bored Monkeys

Yuga wants to build something that “expands the universe” of Bored Ape Yacht Club, but at the same time “invites the larger NFT community”. More simply, the company wants to build on its early success while also making room for wider participation. That’s reasonable.

Yuga is not big on current metaverse building efforts. The company’s current metaverse efforts lack things like “purpose,” “shared goals,” and “real interests,” along with “connections,” “decisions,” and a “story.” It summarizes its position by noting that a simple social hub in a virtual world is not enough to command consumer attention over a longer time horizon.

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