Riding in the coattails of a broader market resurgence, the NFT trading space witnessed in 2024 Q1, with volumes across the top 10 marketplaces soaring to $4.7 billion. According to CoinGecko’s latest report, Blur maintained its stronghold as the leading NFT marketplace during this period. During the first quarter of 2024, Blur recorded $1.5 billion...Read More
Yuga Labs, creator of the Bored Ape Yacht Club (BAYC) NFT collection, has announced the sale of the intellectual property rights for two of its games. This move is part of Yuga Labs’ previously declared commitment to refocus its organizational efforts. Yuga Labs Hands Over Gaming IPs to Faraway In an April 17 announcement on...Read More
The Bored Ape Yacht Club (BAYC), formerly a leading Ethereum non-fungible token (NFT) market collection, has witnessed a significant decrease in its floor price. This downturn signifies a reduction exceeding 90% from its historical peak, noted approximately two and a half years ago. BAYC is nearing a sub-10 NFT floor price, a development attributed to...Read More
Greg Solano, widely known by his pseudonym “Garga” and co-founder of Yuga Labs, has announced that he will take over as CEO. This announcement comes as Daniel Alegre, former COO of Activision Blizzard and CEO of Yuga Labs, steps down after a tenure of approximately ten months. Crypto-Native Focus The leadership transition was revealed through...Read More
In a recent post on X, Wylie Aronow, the former founder of Yuga Labs, addressed ongoing rumors about a potential return to a leadership role within the company. Aronow, who took a step back from his position in January of this year to prioritize his health, has clarified the speculation and given additional insights into...Read More
Yuga Labs, the creative force behind the popular Bored Ape Yacht Club (BAYC) NFT collection, has completed a restructuring phase to position it for long-term success. In a message to the community, Yuga Labs CEO Daniel Alegre shared insights into the company’s journey, achievements, and a renewed focus on the metaverse project, Otherside. Yuga Labs...Read More
A group of four investors who invested in the popular NFT collection Bored Ape Yacht Club (BAYC) has filed a class action suit against the project’s creator, Yuga Labs, and 29 other companies for misleadingly promoting the collectibles as their prices continue to tumble. According to a CNN report, other defendants mentioned in the lawsuit...Read More
US prosecutors have charged Soufiance Oulahya, presently in legal custody in Morocco, with stealing cryptocurrencies and NFTs worth $450,000 from a victim in Manhattan by creating a fake OpenSea marketplace in 2021. A release from the United States Attorney’s Office Southern District of New York said the defendant illegally obtained the seed phrase of the...Read More
Justin Bieber might be iconic on stage, but his investment strategy, at least in terms of NFTs, certainly missed the mark. The famous Canadian pop star paid $1.3 million for a Bored Ape NFT last year, which is now worth only around $59,000. Foraying the hyped NFT space during the digital asset bull run seemed...Read More
Nonfungible tokens (NFTs) have not recovered anywhere near the levels that crypto markets have. Even the largest collections in the industry, such as Yuga Labs’ Bored Ape Yacht Club, are heavily discounted. On July 3, Reflexivity Research co-founder Will Clemente revealed that BAYC was down 90% from its all-time high. Floor prices for the Ape-themed...Read More
Certain traders have recently sold NFTs part of the Bored Ape Yacht Collection (BAYC) at a discount to invest in the now-trending memecoin – PEPE. The asset has been among the best performers in the crypto market lately, as its price has surged by over 600% over the last two weeks before cooling off in...Read More
Silicon Valley Bank (SVB) was the backbone of many startups and venture capital funds around the world. Its collapse signifies the biggest banking failure since the 2008 financial crisis. While the crypto market has largely been spared from an adverse effect, the same cannot be said for the non-fungible token (NFT) space. According to the...Read More
The Canadian singer and teen idol – Justin Bieber – made the headlines in January by purchasing an NFT from the BAYC collection for 500 ETH (around $1.3 million at the time). The intensifying bear market and the decreasing interest in digital collectibles, though, have shrunk the USD value of his investment by over 94%....Read More
Yuga Labs – the team behind the popular Bored Ape Yacht Club (BAYC) NFT collection – is now under investigation by the Securities and Exchange Commission (SEC). The commission is examining whether the company violated securities laws by issuing certain NFTs, or through their newly launched crypto token ApeCoin. SEC Versus NFTs A person unfamiliar...Read More
BendDAO – a lending protocol for non-fungible tokens (NFTs) – is the latest project to have been hit with an insolvency crisis. The five-month-old platform has reportedly run out of ETH over the weekend. According to the researcher, NFTStatistics.eth, BendDAO is just left with 12.5 WETH in the contract. The lenders of BendDAO have landed...Read More
As per Ripps’s filing on Monday, the artist has asked a Los Angeles federal court to stop a trademark lawsuit brought against him by the BAYC creator. He further argued that his NFTs of the apes were a type of “appropriation art” meant as criticism and protected by the First Amendment. His NFTs of Bored...Read More
Gucci is expanding the number of supported cryptocurrencies that it accepts for payment, the latest addition being ApeCoin. APE is the native ERC-20 token of the BAYC NFT collection, a subsidiary of Yuga Labs. The iconic Italian fashion house revealed that the Bored Ape Yacht Club (BAYC) token will be available as a payment option...Read More
Yuga Labs – the American company that created the popular NFT collection Bored Ape Yacht Club (BAYC) – faces a possible class action lawsuit. A group of individual investors claimed that the firm inappropriately advertised its tokens and thus deceived people into buying them. Yuga Labs and its Unhappy Investors Yuga Labs seems to be...Read More
In a quick-paced development, XCarnival, describing itself as a Metaverse Asset Bank, lost over 3,087 ETH to a hacker and negotiated the return of half of the funds less than 24 hours after the incident. Exploiting a flaw in its smart contract, the attacker used a Bored Ape Yacht Club NFT, which was already withdrawn...Read More
On June 24, Wylie Aronow, better known online as Gordon Goner, co-founder of Yuga Labs, the startup behind the Bored Ape Yacht Club ( BAYC ) collection, took to Twitter to address the “misinformation campaign” that claims he and his team are “super-secret Nazis.” Goner said that even though he paid attention in the past...Read More
Two of the greatest hip hop artists – Eminem and Snoop Dogg – produced a new video that, aside from marijuana, has multiple references to NFTs and BAYC, in particular. Both have experience in the field, owning several digital collectibles. Shady, Snoopy, Bored Apey Marshall Mathers III, as is Eminem’s real name, teased the new...Read More
NFTs were undoubtedly the hottest topic of late 2021 and the beginning of 2022. Pushed towards mainstream adoption by projects such as the Bored Ape Yacht Club, Azuki, Okay Bears, and others, NFTs were booming. As the overall market went into a considerable drawdown, with Bitcoin’s price losing close to 70% of its value in...Read More
Prices and sales of non-fungible tokens (NFTs) have continued to crash as bears completely take over the broader crypto market. Popular collections such as the revered Bored Ape Yacht Club (BAYC) were not spared either, and their floor prices have lost significant value in US dollars. For clarity, the floor price represents the lowest price...Read More
Hollywood personality Seth Green’s Bored Ape, which was stolen in a phishing attack on May 17, is back home. As per media reports, Green has paid 165 Ether, which is about $300,000 at the current rate, for the return of the prized NFT. BAYC#8398 is Back Home: Green “Fred is back home,” Seth Green replied on...Read More
The conflict of interest surrounding which blockchain will host the Apes have imploded after a tumultuous token launch back in March. As many buyers expressed dismay over the much-anticipated virtual land sale by Yuga Labs, a solution of a potential departure from Ethereum was suggested. But more than half of the ApeCoin participants have chosen...Read More
In yet another breach, 32 non-fungible tokens were stolen because the Discord servers of the Bored Ape Yacht Club and OtherSide were compromised. Earlier today, the Discord servers of the Bored Ape Yacht Club and OtherSide were compromised. The community manager going by the Twitter handle BorisVagner had his account hacked, which enabled scammers to...Read More
Ethereum-based layer 2 NFT scaling platform, Immutable, has submitted a proposal to the ApeCoin DAO to develop the popular Bored Ape Yacht Club (BAYC) metaverse project Otherside on its blockchain network. Otherside Metaverse on Immutable X Citing scalability, no-fee transactions, and a carbon-neutral environment, Immutable said that the move aligns with the needs of the...Read More
A Singaporean citizen has managed to successfully block the sale of one Bored Ape Yacht Club (BAYC) NFT through a court-ordered injunction. According to the court filing seen and reported by Bloomberg, the plaintiff used the NFT as collateral for a loan on the NFTfi platform. The collector decided to use the BAYC collectible since...Read More
Bored Ape Yacht Club (BAYC) confirmed over Twitter on Monday that its Instagram account was hacked. A scam link posted by the hacker appears to have resulted in multiple valuable NFTs being stolen from victims. The link, which has since been taken down, led to a page claiming to be sponsored by Yuga Labs. It...Read More
Five years ago, non-fungible tokens (NFTs) were an esoteric concept leveraged by a few crypto fanatics, but that changed in 2021 when NFTs made it to the mainstream. Since then, the niche has disrupted many industries, especially the art and gaming markets. While there are hundreds of different NFT projects existing today, with each trying...Read More
