Yuga Labs restructures, NFT prices grow: what’s next for the market?

01/05/2024 Yuga Labs restructures, NFT prices grow: what’s next for the market?

Amid Yuga Labs’ restructuring, how are investors and collectors reacting to the changing situation of the NFT market?

Yuga Labs, the company behind the immensely popular Bored Ape Yacht Club (BAYC)NFTcollection, isundergoinga restructuring effort.

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This move comes amid a challenging period for the company, marked by a sharp decline in the value of its flagship NFTs and the need to realign its strategic focus.

CEO Greg Solano recently shared a candid message on X, acknowledging the company’s struggles and outlining a path forward.

gm, really tough day today. I am hellbent on transforming yuga and getting us back to our roots, and that means making hard decisions. by far the hardest is saying goodbye to some talented team members. here was my message to the team this morning.pic.twitter.com/gBkoNf2iK3
— Garga.eth (Greg Solano)

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