invezz.com
Yuga Labs CEO Daniel Alegre has confirmed that the company finished its reorganization process, which forced it to reduce its staff early in October. He added that they will now prioritize developing Otherside, its metaverse extension.
I want to address some of the feedback the company and I have been receiving from many of you recently.
— Daniel Alegre (@dalegre) October 18, 2023
I respect the relevant, pointed feedback as I know it comes from a place of wanting to see improvements in our Yuga communities.
First, I will start with sharing some advice…
“..a few big initiatives have developed, including our Made by Apes program to support the builders in BAYC, the focus on elevating the CryptoPunks art form to collectors both inside and outside of web3, and the increased investment in partnerships to get Otherside on a faster delivery track.”
The CEO highlighted three areas of focus after the company reorganization. They include supporting existing Yuga Labs communities, prioritizing Otherside development, and leveraging partnerships for streamlined undertakings.
Daniel Alegre commented on the firm’s challenges over the past six months. However, the team remained dedicated to innovation and prioritizing what matters. He stated,
“It was time to take a close look at our priorities and make sure that we were putting our weight behind the things that really mattered.”
Increased Otherside interest
Alegre emphasized that Yuga Labs would focus on developing Otherside, its metaverse extension. The firm promises unique digital experiences for users. Moreover, it announced various groundbreaking announcements to accelerate Otherside’s evolution.
It recently acquired Roar Studios and patterned with Big Rhino and Headean to make Otherside accessible to the Yuga Labs communities and beyond.
Meanwhile, metaverse players continue to build despite ongoing macro challenges. The crypto market endures a prolonged winter that has deteriorated asset prices.
For instance, metaverse digital coins, including Sandbox (SAND) and Decentraland (MANA), have slumped massively since hitting their record highs. Also, Yuga Labs floor price hovers beneath 30 Ether, down over 80% within the past twelve months.
BAYC is heartbreaker, with a current floor price of 26.99 ETH, 82.4% down from a year ago.
— LuckyGo (@LuckyGo_io) October 10, 2023
Yuga Labs is shifting gears with a focus on Otherside, placing their bets on the gaming 🚀 #Crypto #NFT #YugaLabs pic.twitter.com/9DOZJwlzPl
The post Yuga Labs prioritizes Otherside development following recent company reform appeared first on Invezz.