Creators of\u00a0 Bored Ape Yacht Club (BAYC) NFT series Yuga Labs gradually expanded within their first year in business and now looking to expand via metaverse.<\/p>\n
BAYC sales surged within 2021 and reached more than a $1 billion market cap<\/a>, including the sales on the secondary market. Yuga Labs made $127 million in net revenue last year and is also expecting to receive around $5 billion in funding.<\/p>\n Their plan for next year is to expand Larva Labs' scope to create a larger NFT community and diversify their revenue beyond selling Ape-based NFTs. Representatives of the company stated:~<\/p>\n \u201cWe want to build something that expands the universe of the BAYC, but also invites the larger NFT community (and those priced out of BAYC membership) to join,\u201d<\/p><\/blockquote>\n Last week, Larva Labs took their first step in expanding beyond the Apes by acquiring the property rights<\/a> of \u00a0CryptoPunks<\/a>\u00a0and\u00a0Meebits.<\/a><\/p>\n This week, the team announced their plans for stepping into the metaverse world. In their pitch deck, Yuga Labs introduced their game-based metaverse design called MetaRPG. Being passionate MMORPG fans themselves, it is likely that the Yuga Labs team will pour their hearts and souls into their new metaverse.<\/p>\n 7. Why did you get into NFTs?<\/p>\n We're gamers at heart. We grew up obsessed with MMORPGs, teaming up with strangers to get at rare items hidden away in dungeons. The metaverse is very real to anyone who lost years of their life (and made lifelong friends) in World of Warcraft,<\/p>\n — Yuga Labs (@yugalabs) January 3, 2022<\/a><\/p><\/blockquote>\n\n