Yuga Labs: From PFPs to Games - Where Does It Go From Here?

Introduction

On April 30th, 2021, Yuga Labs created Bored Ape Yacht Club (BAYC) as an exclusive members club gated by a 10k collection of ape-inspired profile picture (PFP) NFTs. The project became renowned for continually driving value back to its holders, ranging from commercial usage rights to several supplementary token drops — Bored Ape Kennel Club (BAKC) and Mutant Ape Yacht Club (MAYC). Yuga Labs acquired two additional IPs, CryptoPunks and Meebits, from Larva Labs and solidified its position as the leading PFP ecosystem in Web3. The company has gone on to acquire brands such as WEMADE and 10KTF to further expand its ecosystem of brands.

At some point, however, Yuga Labs understood that it could not perpetually release additional NFTs or minor perks in order to maintain user engagement and the FOMO-driven high valuations. Thus, the company adjusted its strategy to focus on content and revenue-generating business models. It is now s