Even amid market turbulence, Yuga Labs has announced its acquisition of WENEW and its NFT collection 10KTF. Mike “Beeple” Winkelmann, Co-Founder of WENEW, has also joined the Yuga Labs team as an advisor on the project. Read on to learn more about the 10KTF procurement.
What Does The 10KTF Acquisition By Yuga Labs Mean For The NFT Space?
Yuga Labs has added WENEW as its latest buy after purchasing Cyptopunks and Meebit’s parent company Larva Labs, earlier this year. WENEW co-founder and CEO Michael Figge are now the Yuga Leadership team’s newly appointed Chief Content Officer. With Beeple as the advisor for the company. Beeple has been an NFT legend in the space. His NFT sale for USD 69 million is the second top-selling NFT of all time.
10KTF is a fictional digital fashion shop in a “New Tokyo” universe. The shop is built and run by world-famous artisan Wagmi-san. It offers top-of-the-line accessories and digital merch to the top NFT collections on Ethereum. Some of the collections include merch for ON1 Force, Bored Ape Yacht Club, CryptoPunks, Moonbirds, Nouns, and many more. 10KTF is an interoperable digital store where top NFT holders get to mint one-of-a-kind digital wearables. Furthermore, the 10KTF store has also collaborated with Puma and Gucci for special digital merch.
Yuga Labs co-founder Greg Solano stated in a press release: “Figge, Beeple, and the WENEW team have found a way to create a captivating serialized story for Web3 while also managing to tap into the passion people have for their digital avatars and customization. Storytelling and world-building are foundational at Yuga, and I’m thrilled that we get to work with the creative mind hive at WENEW in a much more robust way.”
WENEW is a web3 experience creator and curator company headed by Guy Oseary, Michael Figgle, and Beeple. Following the procurement, Otherside (Yuga’s Metaverse) also hinted at a possible incoming collaboration within their ecosystem. An official tweet also s,tated “Welcome to the Otherside, Wagmi-san.” On Monday, following the announcements, Yuga Labs NFTs topped the charts on OpenSea.
“We built this company with storytelling at the forefront; Yuga’s first-class contributions to story, experiences, and community were a huge inspiration. Their principles of openness inspired the interoperability of 10KTF,” said Michael Figge, co-founder, and CEO of WENEW. “We’re excited to join Yuga and continue building amazing things in NFTs and web3 together.”
About Yuga Labs
Yuga Labs is the trailblazing web3 company behind the world’s most significant NFT projects. Their flagship projects are NFT giants such as the Bored Ape Yacht Club, and the Otherside metaverse, among others. The company aims to break new ground by building the future of web3. They operate with a vision to fuse storytelling, experiences, and community building with the future of the growing NFT space.
Since their launch in April 2021 with flagship collection Bored Ape Yacht Club, they’ve made headlines as one of the first companies to release IP licenses to their NFT holders. Yuga has also acquired and released rights to other top collections (CryptoPunks and Meebits), The Yuga Labs team also made web3 history with record-breaking synchronized player participation in their newest initiative, Otherside.
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Vineet is a storyteller based in Mumbai. Having previously worked for various web2 organizations as a journalist, instructional designer, and event manager, he got into blockchain in early 2021. As a musician by passion, he fell in love with the digital megastructures building the future of art and creativity. He believes that web3 unlocks creativity at a higher level, and works towards onboarding music projects to the space.