Yuga Labs, the company behind Bored Apes Yacht Club ( BAYC ) and the Otherside metaverse, will release a new Mecha Apes NFT collection.
According to sources, Yuga Labs will be releasing another Mecha Apes NFT collection in hopes of raising an additional $50 million.
The new NFT collection will help replenish the Yuga Labs piggy bank. However, the company has already raised $ 450 million during the seed round of funding in March this year and raised $600 million in NFT sales for the Otherside metaverse.
An unending stream of new NFTs
Yuga Labs first launched the Bored Apes Yacht Club ( BAYC ) NFT Collection in April 2021, and since then, the company has continued to develop the ecosystem with additional products.
It seems that this year we will witness the presentation of another NFT collection from Yuga Labs.
It is not yet known what the monkeys from the new collection will look like. However, according to a leaked document, this NFT collection will be closely tied to Otherside’s metaverse and will play a big role in its development.
So why Mecha Apes, then? The Mecha Piece artifact can be found in the metaverse territories. This item is supposed to be associated with the new NFT collection.
In addition to launching its own NFT collections, Yuga Labs is also acquiring other collections of non-fungible tokens.
In March, the company announced that it had bought famous collections such as Cryptopunks and Meebits from Larva Labs.
Yuga Labs is currently valued at $4 billion, and with more new and exciting NFT launches, the company is likely to be worth a lot more in the future.