Yuga Labs, parent company of Bored Ape Yacht Club, recently announced that they have bought WENEW and its NFT collection 10KTF, adding to their portfolio of popular NFT projects. Immediately following this announcement, Yuga Labs projects and 10KTF saw an increase in sales volume.
WENEW was co-founded by artist Mike Winkelmann, known as Beeple, with well-known crypto personalities Guy Oseary and Michael Figge. The project has partnered with big luxury brands including Louis Vuitton and Gucci. This well connected and influential company will be a natural addition to Yuga’s growing collection of NFT projects - which also include CryptoPunks, Mutant Ape Yacht Club, Otherside and more.
At the start of this year, the company announced their acquisition of CryptoPunks and Meebits, soon followed by the announcement that they will be releasing the commercial rights to their holders. Despite being investigated by the SEC to determine if ApeCoin violated the US Securities Act, Yuga Labs is forging ahead acquiring more NFT projects and expanding their offering. It will be interesting to see how Yuga Labs integrates 10KTF into their ecosystem of decentralized IP, which is becoming a bigger and bigger entertainment franchise.