Yuga Labs Lays Off Staff And Focus On “Otherside” Strategy In 2024

Key Points:

• Yuga Labs lays off employees and undergoes restructuring, with a shift towards the “Otherside” strategy.
• Yuga Labs emphasizes support for employees affected by the layoffs.

Yuga Labs lays off employees and restructures to focus on web3 platform and Otherside strategy. The company is now fully embracing its “Otherside” strategy.

A recent email from CEO Daniel Alegre revealed that the leadership team gathered in New York to redefine Yuga Labs’ core competencies. These core focuses include their unwavering commitment to their communities, strengthening the Otherside strategy, and fostering long-term partnerships.

Here is a breakdown of the impact on specific communities:

• BAYC: The company will actively support the expansion of “Made by Apes” and similar projects, as well as launch exciting gaming experiences planned for 2024 and beyond.
• CryptoPunks: Resources will be dedicated to preserving the crypto art legacy, enhancing the Punks app, and creating captivating experiences.
• Meebits and 10KTF: Both teams will join forces with Otherside to explore new opportunities within the metaverse.

The Otherside team is gearing up to unveil thrilling gaming experiences in 2024 with third parties. Yuga Labs also emphasized its ongoing commitment to partnerships, including successful collaborations with renowned brands such as Gucci and A Bathing Ape.

Amidst these changes, the company remains dedicated to supporting employees affected by the restructuring. The affected employees will receive generous severance packages and assistance in finding new job opportunities.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.