By Richard Hines
The NFT organization behind the Popular Bored Ape Yacht Club (BAYC) has revealed information about a planned merger with the WENEW’s ecosystem into its corporation. It also intends to collaborate with the WENEW ecosystem to develop initiatives that will facilitate creative ideas and innovative projects in the Web3 space.
A New Development For Yuga Labs
Yuga Labs, the face behind BAYC, just purchased the WENEW corporation alongside with its collections. This acquisition adds to its increasing list of NFT creatives, businesses, and assets.
Mike Winnelman established the WENEW ecosystem with the purpose of serving as a bridge between the fashion sector and the Web3 ecosystem. This platform promotes partnership with businesses such as Gucci by introducing them to the vast world of Web3, NFTs, and metaverse.
The WENEW firm is the project behind the 10KTF NFT, a virtual store where individuals with NFT projects can proceed to mint one, two, or more digital wears and accessories.
The teams working on this new collaboration, Beeple, and Figgie have discovered a method to marginalize and build an engaging foot sweeping tale for the Web3 space, while also reaching into people’s interest for clothing, and accessories.
Greg Solano, Co-Founder of Yuga Labs, agreed, noting that the goal and cornerstone of Yuga labs is Web3 tales and world creative innovations, and he is excited to be collaborating with the WENEW ecosystem on new projects moving forward.
Roles Allocation For Merger
Figgie will contribute to the project as the content creator for Yuga’s Creative team, while Winnelson, the founder of WENEW, will serve as a supervisor.
Previously, Figgie worked as the creative director of an entertainment agency that specializes in creating unique visual and digital experiences for fashion companies for major shows and events.
Following this project announcement, trading activity and sales of NFTs associated to and linked to these firms skyrocketed, spiralling up the market charts.
Yuga lab corporation has been purposefully expanding its NFT portfolio since March by purchasing and acquiring large top NFT collections such as Cyber Punks. They also went as far as to create their own NFT projects, such as Mutant Ape Yacht Club and a few others. After launching its own native token, Ape Coin, the corporation’s net worth was estimated to be $4 billion.