Yuga Labs, maker of Bored Apes Yacht Club (BAYC) NFTs, has appointed Spencer Tucker as Chief Gaming Officer. While NFTs from the BAYC and Mutant Apes collections are the most popular, Yuga Labs is now keen to make a foray into the blockchain gaming space as well. This is the first time that 2021-founded Yuga Labs has hired someone dedicated to lead its gaming-related plans and initiatives. According to a Zipmex report, the worldwide gaming business is expected to grow from $173.70 billion (approx. Rs. 13,84,100 crore) in 2020 to $314.40 billion (approx. Rs. 25,04,800 crore) by 2026.
The new Head of Gaming at Yuga Labs specializes in game development, designing as well as web3 gaming. Previously, Tucker was President of Games at Scopely and served as Senior Vice President of Production at Gree International Entertainment.
“I’m excited to join the Yuga Labs team and lead the way to a new era of interoperability and community-powered growth in the Otherside Metaverse. Mobile is revolutionizing the way Web3 is revolutionizing gaming, entertainment and community. Communication,” Tucker said in a statement. said Official statement,
Yuga Labs is also working on an interoperable metaverse project called ‘Otherside’, and as part of his new role, Tucker will also oversee this initiative.
As of March 2022, Yuga Labs’ NFTs had an estimated market cap of around $8.1 billion (approx. Rs. 64,600 crore) representing 42.6 percent of the $19.1 billion (approx. Rs. 1,52,200 crore) market cap of Ethereum’s top 100 NFTs. Collection, a DappRadar Report said
The company is the parent of popular NFT series including Bored Ape Yacht Club, Cryptopunks and Mebits, but now wants to go beyond the NFT realm.
“Yuga is more than that. Gaming is one of our main focus areas. We are uniquely positioned to revolutionize the way we all think about web3 gaming through core principles such as ownership, utility, community and storytelling,” said Nicole Muniz, CEO of Yuga Labs, commenting on the development.
The company, which has already added experts from Google, Oculus, Twitter, Apple and Dune Games, aims to grow its team to 100 full-time employees by the end of 2022.
The company was recently accused of manipulating buyers into investing in its digital collectibles. The trigger point for the lawsuit is supported by an analysis of how ApeCoin hit an all-time high of $26.70 (roughly Rs. 2,100) before falling 82.5 percent to trade at $4.66 (roughly Rs. 400) in late June. .
