– Yuga Labs CEO Daniel Alegre announces company restructuring and workforce reductions
– Goal is to focus on creative storytelling, community building, and metaverse extension Otherside
– Sales for Otherside have stagnated since April, with a decline in Bored Ape Yacht Club floor price
– This information is provided for informational purposes only and not intended as financial advice
Yuga Labs CEO, Daniel Alegre, has announced a restructuring and workforce reductions within the company. Alegre stated that some roles have been eliminated, impacting colleagues. Alegre also mentioned that the company will focus on growing its community and brand engagement, particularly through its metaverse extension, Otherside. Despite having high sales earlier this year, Otherside’s sales have stagnated since April. Additionally, Yuga’s NFT project, Bored Ape Yacht Club, has experienced a significant drop in floor price.
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