Yuga Labs Refutes Rumors Of New NFT Collection Launch

Yuga Labs was rumored to be looking to raise $50 million through the sale of 100,000 tokenized land plots, but the company’s co-founder claims it’s all “fake news.”

Yuga Labs co-founder Greg Solana, or Garga, has denied rumors that the creators of the Bored Ape Yacht Club (BAYC) intend to launch a new nonfungible token (NFT) collection called Mecha Apes by the end of the year.

While the rumors have been debunked, given that Yuga Labs has hit the ball out of the park with each of its projects thus far, and that it has outlined a broad vision for its metaverse, another NFT project from them in the future doesn’t seem so far-fetched.

In the end, Yuga Labs hopes to build an interoperable metaverse ecosystem in the Otherside that includes a virtual place for people to socialize, a variety of game modes with play-to-earn aspects, and a hub where users can get key education on blockchain, NFTs, and the Metaverse.

Yuga Labs is worth around $4 billion, and the BAYC NFTs have sold for more than $2.4 billion, while Otherdeed NFTs for the Otherside metaverse have sold for more than $1 billion.

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