Monkey NFT Creators Announce Mass Layoffs | Bored Ape Fall
In the world of NFTs, the Bored Ape Yacht Club (BAYC) took the scene by storm in 2021 with its unique collection of 10,000 distinctive monkey avatars. Initially affordable, these NFTs quickly soared in value, attracting investors and celebrities like Snoop Dogg, Eminem, and Justin Bieber.
However, as the NFT market experiences turbulence, Bored Ape NFTs have seen a significant drop in their once sky-high prices. But the challenges don't stop there. Yuga Labs, the studio behind BAYC, has had to make tough decisions to adapt to the changing landscape, resulting in substantial layoffs and internal restructuring.
This video delves into the rise and fall of Bored Ape NFTs, exploring the factors that have led to this point and what the future holds for this iconic collection. Can Yuga Labs' new project, the Otherside metaverse, breathe life back into Bored Ape NFTs?
Join us as we unravel the story of Bored Ape NFTs and their uncertain journey in the ever-evolving NFT world.
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