Yuga Labs, the creator of the Bored Ape Yacht Club, has announced a significant restructuring effort that involves the elimination of several roles within the company. While the exact number of layoffs remains unspecified, Yuga Labs CEO Daniel Alegre, in a blog post shared on October 6 via X (formerly Twitter), explained that the company had taken on too many projects that were diverting its attention from its core priorities.
Alegre stated, “I realized very quickly that there were a number of projects that, while well-intentioned, either spread the team too thin or required expertise beyond our core competencies. To create truly remarkable experiences for our communities and our business, we need to focus on fewer key initiatives and collaborate with external partners to bring these experiences to life.”
Moving forward, the company intends to concentrate on community building, prioritize its Otherside metaverse project, and establish brand partnerships.
Nike’s Web3 unit, .SWOOSH, has unveiled its first physical sneaker line, called the Air Force 1 Low TINAJ. These sneakers feature a combination of white and black panels with blue .SWOOSH logos. According to an announcement on October 5, these sneakers will be exclusively available to .SWOOSH members who purchase and open at least one OF1 Box NFT before the October 16 deadline.
The OF1 Boxes are priced at $120 each and can be purchased on the .SWOOSH website. However, there is a catch—only a limited number of TINAJ shoes are available, and it is not specified how many. Those who open OF1 Boxes that do not grant access to the TINAJ shoes may still receive other benefits and access to future drops.
The gaming-focused Mythos Chain has experienced a significant surge in NFT trading volume, surpassing Polygon and Solana to become the second-largest blockchain in terms of NFT sales volume over the past 30 days. According to data from CryptoSlam, Mythos Chain has recorded $33.5 million in NFT sales volume over the last 30 days, marking a 20.31% increase during that period. In comparison, Polygon and Solana recorded $30.9 million and $27.9 million, with declines of 45.50% and 16.77%, respectively.
The majority of the trading volume on Mythos Chain comes from DMarket, an NFT marketplace hosting NFTs from games affiliated with Mythical Games, the company behind Mythos Chain. One potential driver of this surge in NFT sales is Nitro Nation World Tour, a Web3 mobile street racing game backed by popular DJ Deadmau5, which officially launched in October.
Starbucks has entered the world of NFTs by releasing an open-edition set of Pumpkin Spiced Latte NFTs on the Nifty Gateway marketplace. These NFTs are priced at $20 each and were made available for purchase on October 5, with sales ending on October 9. As of now, 1213 NFTs have been minted, generating nearly $25,000 in sales.
These Pumpkin Spiced Latte NFTs are part of Starbucks’ Web3 loyalty rewards program, Starbucks Odyssey. The program offers NFT stamps, such as the Pumpkin Spice Latte, which can be collected to earn points and specific rewards.
In other news, CMCC Global, a crypto-focused venture capital firm based in Hong Kong, has raised $100 million to support Asian blockchain startups through its Titan Fund. This fund will focus on investments in blockchain infrastructure, consumer applications like gaming and NFTs, and financial services, including exchanges, wallets, and lending and borrowing platforms.
Additionally, PayPal has taken steps toward creating its blockchain ecosystem by filing a patent application for a system facilitating NFT purchases and transfers, both on- and off-chain. This marks a significant move for the company in the blockchain space.
These developments in the world of NFTs, blockchain, and Web3 technology showcase the growing influence and adoption of these innovations across various industries.
