Yuga Labs Improves, Employees Cut To Focus On Metaverse Otherside

Yuga Labs will focus on the metaverse Otherside. (Photo; Doc. WebMind).

Jakarta - Yuga Labs, the company behind the famous NFT collection Bored Ape Yacht Club (BAYC), announced that employee cuts are part of the company's restructuring.

Greg Solano, co-founder of Yuga Labs, broke the news through social media platform X, signaling significant strategic changes in company operations.

Solano revealed that this decision was taken after a thorough assessment of the company's direction, which he said had lost focus. "We have lost our way. To get back on track, we have to be a smaller, more agile, and completely focused on crypto," said Solano.

This employee cut is part of Yuga Labs' efforts to sharpen its focus on the metaverse Otherside project, which is expected to be the main driver of the company's future growth.

Solano added, "We have started several restructuring steps, including the separation of the HV-MTL and Legends of the Mara, which are now the responsibility of gaming firm Faraway. This allows us to allocate our resources and energy entirely to the development of Otherside."

This decision by Yuga Labs comes amid a dynamic NFT marketplace, where companies are racing to adapt to rapidly changing trends and demand. Yuga Labs, which underwent restructuring in October last year by cutting employees, appears to be committed to maintaining its position as a leader in the NFT industry. a clearer context for readers.

This change is expected to bring Yuga Labs back to the pinnacle of innovation in the world of NFT and the metaverse, by placing Others as the center of their future vision. The crypto community and NFT fans are looking forward to the next step from Yuga Labs, which has become one of the big names in the global blockchain ecosystem.