Yuga Labs Acquires Beeple's WENEW and its Flagship NFT Collection, 10KTF

Yuga Labs, the parent company behind Bored Ape Yacht Club (BAYC), has acquired Web3 ecosystem WENEW and its flagship NFT collection 10KTF, adding to its growing portfolio of popular non-fungible (NFT) projects.

WENEW, a Web3 ecosystem that boasts partnerships with brands like Louis Vuitton and Gucci, was founded by artist Mike Winkelmann, aka Beeple, along with other crypto heavy-hitters like Guy Oseary and Michael Figge. The company is also behind 10KTF, an interoperable digital storefront where holders of top NFT projects like BAYC, Moonbirds and more can mint one-of-a-kind digital wearables.

“Figge, Beeple, and the WENEW team have found a way to create a captivating serialized story for Web3, while also managing to tap into the passion people have for their digital avatars and customization,” said Greg Solano, co-founder of Yuga Labs, in a press release. “Storytelling and world-building are foundational at Yuga and I’m thrilled that we get to work with the creative mind hive at WENEW in a much more robust way."

Figge will join Yuga's leadership team as its chief content officer while Winkelmann will sign on as an advisor. Figge previously worked as a co-founder and creative director for Possible, an entertainment company that creates immersive visual experiences for major fashion houses and events like Coachella and the Super Bowl halftime show.

Following the announcement, Yuga Labs hinted at the integration between 10KTF and Otherside, Yuga Labs' gamified and interoperable metaverse platform.

Yuga Labs has been steadily expanding its portfolio of NFT projects and interactive experiences. In March, the company acquired major NFT projects CryptoPunks and Meebits, releasing commercial rights to holders several months later. The company has also created additional NFT collections, including Bored Ape Kennel Club (BAKC) and Mutant Ape Yacht Club (MAYC) and recently issued a governance token called ApeCoin (APE). The company was recently valued at $4 billion.

Sales of Yuga Labs NFT projects, including BAYC, MAYC, Otherdeed (NFTs linked to virtual land in Otherside) and 10KTF soared on Monday morning, topping the charts on NFT marketplace OpenSea.