Yuga Labs, the company behind the popular NFT project Bored Ape Yacht Club, has recently announced a significant shift in its direction. Co-founder and CEO of Yuga Labs, Vlad Kartashov, has acknowledged that the company will be making some major changes in order to focus on building a new cryptonative team.
This decision comes as a surprise to many in the NFT community, as Bored Ape Yacht Club has been one of the most successful NFT projects to date. However, Kartashov believes that in order to stay ahead of the rapidly evolving NFT space, the company needs to adapt and innovate.
In a recent statement, Kartashov explained that the new cryptonative team will be focused on exploring new opportunities in the blockchain and cryptocurrency space. This includes developing new NFT projects, exploring decentralized finance (DeFi) opportunities, and collaborating with other leading projects in the industry.
As part of this shift in direction, Yuga Labs will be laying off a number of employees who do not fit into the new cryptonative team. While this decision is never easy, Kartashov believes that it is necessary in order to ensure the long-term success of the company.
Despite the layoffs, Kartashov remains optimistic about the future of Yuga Labs. He believes that by focusing on building a strong cryptonative team, the company will be able to continue to innovate and push the boundaries of what is possible in the NFT space.
Overall, this announcement from Yuga Labs serves as a reminder of the fast-paced nature of the NFT industry. In order to stay relevant and competitive, companies must be willing to adapt and evolve. It will be interesting to see what new projects and innovations come out of Yuga Labs in the coming months as they continue to build their new cryptonative team.