Several rumors have leaked a presentation plan suggesting the arrival of a gamified and NFT compatible Metaverse in the Bored Ape Yacht Club ecosystem. The token, already announced and long teased by Yuga Labs should also be at the center of this new project.
In action for less than a year, the company Yuga Labs is at the origin of the NFT Bored Ape Yacht Club collection, having turned the Web 3 universe upside down in the space of a few months.
Initially inspired by the iconic CryptoPunks collection, these images of bored apes have quickly become the avatars of choice of the biggest celebrities such as Neymar, Justin Bieber, Jimmy Fallon or Eminem.
CoinAcademy announced a few days ago that Yuga Labs has finally bought back all the rights of the NFT CryptoPunks and Meebits collections created by Larva Labs before offering the commercial rights to their owners.
Yuga Labs generated $127 million in net revenue last year, a figure that could reach $455 million by 2022, thanks in part to proceeds from upcoming virtual land sales.
Royalties from the Bored Ape and Mutants Ape collections represent a significant revenue stream for Yuga, but the team’s ambition obviously requires massive resources.
According to several sources, Yuga Labs is looking to raise new funds from various investors, with a valuation that could reach $5 billion.
source: Financial Times
The team has always hinted at its desire to expand the BAYC universe and in order to welcome as many people as possible into the Yacht Club ecosystem, the gamified Metaverse and the sale of virtual land seems to be an obvious solution.
The Bored Ape Metaverse: MetaRPG
Yuga Labs is said to be creating an NFT Metaverse that revolutionizes the fusion of gaming, crypto-currencies and NFTs.
In MetaRPG, a system would allow players to create characters and equip them using NFTs they own or using a sort of in-game app store to shape their characters from scratch. These would then be usable in-game across the various MetaRPG plots.
MetaRPG Virtual Land Sales
The team behind Bored Ape Yacht Club is reportedly planning to release virtual plots of its MetaRPG Metaverse, in the form of NFT. According to rumors, the land plots, like many gamified Metaverse, each have their own characteristics, rarity and characters.
This Metaverse would likely be created in collaboration with the video game studio, Animoca, which suggests that the project announced a few days ago by the two partner companies is none other than this virtual world. An identity verification (KYC) had been required for users wishing to participate, without giving any information about the nature of the project.
Yuga Labs plans to raise nearly $180 million for each of the 2 planned land sales. In total, 200,000 plots of land should be available on the Metaverse as NFTs, with the first sale starting this month (in March) and the next one in August.
The total sale of the parcels of land should then bring in nearly $360 million before royalties.
Some of the land would be kept by the team for future projects, but the quantity remains unknown for the moment, as does the sale price of the land.
Another crucial element that is highly anticipated by the Web 3 community is the $APE or $APECoin token that Yuga Labs has been working on for several months.
This token would be used to make purchases in the Metaverse application store where trading and exchange should be major points.
The denial of a co-founder of Yuga Labs
Garga, one of the co-founders of Yuga Labs, spoke on the Bored Ape Yacht Club Discord, stating the leaked pitch deck would be old and outdated:
“It’s an old, outdated pitch deck and hilariously, a version that neither Gordon (another co-founder) nor I have ever seen. There’s a lot in there that’s already changed, and a lot more that’s going to change because ‘fuck’ doing expected things.”
All that’s left is to try to separate the real from the fake in the rumors of the moment…