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

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.

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)
Arts

https://crypto.news/yuga-labs-restructures-nft-prices-grow-whats-next-for-the-market/

Interesting NFTs
Fuku-Shiva
The term “Fuku” refers to fortune or good luck. “Shiva” refers to the Hindu deity who represents strongly polar qualities, both severe and delicate. On a beach inspired by adventures on Phi Phi island in Thailand, three youths cavort. Two are representational figures and the third is psychologically rendered. A dynamic relationship ensues between the triad; a reciprocity of active and passive states. The boy on the right engages in maneuvers of evasion, defense, and is dressed in a speedo which reiterates the colors and symbolism of the caution tape on the left and upper right frame of the composition. In concurrent reaction the psychedelic figure shoots out a rocket powered paper airplane. The nude boy seated in the froth and sand approaches in passive repose, and is met with active attention but equal physical reserve by the psychedelic being. Perhaps the most naked figure is also the least representational. Looming large, dynamic, and active, it engages its companions playfully. Various symbols interject into the otherwise naturalistic scene, most notably a beach ball and two contaminated barrels nested in the sand. The upright barrel reads “FukuShima” in Kanji. The barrel laying down reads “Dharma”. To the left the scene is bounded by caution tape, reiterating the danger of the nuclear waste while also hosting alien archetypes, whose presence, as is the nature of these entities, runs up and just behind the consciousness of the psychedelic figure’s eggshell-like skull.
Metarift
∾ 2160 x 2160 px, Video (46.5 MB)
#72471
By OthersideDeployer
POPZ PUNKS #37
POPZ PUNKS 37/110
trump 2020
This is a photo i took of my son playing around in one of our cat carriers, redressed to express the concern and damage the continuation of the trump administration could bring to the world in 2020 and beyond. Unlike the majority of my historic work found on opensea, all content was conceived and taken by me, so felt perfect to use as my first piece on Known Origin.
For projects
News and stats platform for NFT (non-fungible token) 2024 All rights reserved.