Yuga Labs Purchases Beeple’s WENEW and Its Flagship NFT Collection, 10KTF
The proprietors of Cryptopunks and Bored Ape Yacht Club, Yuga Labs, have expanded their portfolio of brands and collections by adding Beeple’s WENEW and the accompanying 10KTF NFT collection.
Beeple’s Company & Collection Acquired by Yuga Labs
Beeple’s WENEW and the accompanying 10KTF NFT collection have been added to Yuga Labs’ expanding portfolio of brands, collections, and more within the industry.
Most people are familiar with Yuga Labs as the proprietors of the Cryptopunk and Bored Ape Yacht Club collections. With the acquisition of WENEW and 10KTF by Mike Winkelmann, a Wisconsin-based NFT artist known as Beeple, they are now expanding their ecosystem of projects.
Artist Mike Winkelmann, Alias Beeple, and other prominent figures in the crypto industry, including Guy Oseary and Michael Figge, developed WENEW. This Web3 ecosystem boasts relationships with companies like Louis Vuitton and Gucci.
The organization is also the driving force behind 10KTF, an interoperable digital marketplace where owners of leading NFT projects like BAYC, Moonbirds, and others may mint unique digital wearables. Bored Ape Yacht Club and Moonbirds are top NFT collections that can mint and collect one-of-a-kind. The NFTs are featured on different metaverse as wearables thanks to 10KTF, an interoperable digital store.
In a press statement, Greg Solano, the co-founder of Yuga Labs, stated:
“Figge, Beeple, and the WENEW team have found a method to develop an engaging serialized story for Web3 while simultaneously managing to tap into the love people have for their digital avatars and customization.” He continued, ” The core elements of Yuga are storytelling and world-building. Therefore I’m overjoyed that we get to collaborate with WENEW’s creative mind hive in a much more substantial way.”
Yuga Labs has been growing at an immense rate lately. The company has arranged multiple partnerships and other strategic moves in hopes of propelling itself to greater heights in the next crypto bull cycle.
Beeple Becomes An Advisor at Yuga Labs.
Yuga Labs has hired Mike Winkelmann, the famous NFT artist known as Beeple, as an advisor. Mike will go on as a consultant, while Figge will become the chief content officer of Yuga Labs. In the past, Figge served as the co-founder and creative director of Possible, an entertainment business that develops immersive visual experiences for prestigious fashion houses and occasions like Coachella and the Super Bowl halftime performance.
Following the announcement, Yuga Labs revealed that 10KTF and Otherside, the gamified and interoperable metaverse platform developed by Yuga Labs, will be integrated. The organization seems to be on the right track as sales of its NFT projects such as BAYC, MAYC, Otherdeed (NFTs linked to virtual land in Otherside), and 10KTF, skyrocketed on Monday morning, dominating the NFT marketplace OpenSea.
Yuga Labs has been progressively increasing the number of interactive and NFT projects in its portfolio. Major NFT projects CryptoPunks and Meebits were purchased by the business in March, with the commercial rights being released to holders a few months later.
Additionally, the business has produced NFT collections such as Bored Ape Kennel Club (BAKC) and Mutant Ape Yacht Club (MAYC). Most recently, it launched a governance token known as ApeCoin (APE). The business is currently worth $4 billion.
Beeple’s NFT Career
Beeple’s record-breaking NFT sale is what makes him most well-known. Everydays: The First 500 Days, one of his works of art, was sold in March 2021 for $69.3 million. It was auctioned through the renowned London auction house Christie’s.
He sold another artwork, “HUMAN ONE,” for about $30 million in November of the same year. The piece of art, a 7-foot-tall sculpture that is both physically and digitally dynamically evolving, is a generative work of art. Beeple called this piece of art the “first portrait of a human born in the metaverse,”
His NFT art career, which grew out of his prior digital art career before the most recent technological shift, has brought him millions of dollars. However, it is still up for speculation how this new arrangement between Beeple and Yuga Labs will impact the NFT space.
