Yuga Labs, the creators of Bored Ape Yacht Club (BAYC), has completed the acquisition of web3 startup WENEW and its famed NFT counterpart 10KTF, adding yet another project to its growing list of NFT collections.
WENEW, co-founded by popular artist Mike “Beeple” Winkelmann, is a NFT venture launched in June 2021 that specializes in providing creators ways to immortalize their most influential and notable moments. It boasts of partnerships with brands such as Playboy, Gucci, Wimbledon, and Louis Vuitton.
The company’s flagship project, 10KTF, is an inter-operable NFT project that operates similar to a storefront, where holders of top NFT projects such as BAYC, Coolcats, and Moonbirds, can create digital wearable for themselves.
10KTF captivates users with its story-driven content featuring fictional “digital artisan” called Wagmi-san, who also manages the store.
WENEW co-founder and CEO Michael Figge will join Yuga Labs as the new Chief Content Officer. Beeple, who is also know for selling an NFT artwork for $69.3M back in March 2021, will join Yuga Labs as an advisor.
“Figge, Beeple, and the WENEW team have found a way to create a captivating serialized story for web3, while also managing to tap into the passion people have for their digital avatars and customization,” said Greg Solano, co-founder of Yuga Labs.
Luxury fashion brand Gucci and sportswear retailer Puma have already had fashion collaborations with WENEW and several top NFT projects have teased some form of collaboration with 10KTF and Wagmi-Sam.
“Yuga’s first-class contributions to story, experiences, and community were a huge inspiration. Their principles of openness inspired the interoperability of 10KTF. We’re excited to join Yuga and continue building amazing things in NFTs and web3 together,” said the co-founder and CEO of WENEW, Michael Figge.
Even with negative market sentiments it hasn’t stopped Yuga Labs’ buying spree. In March, it acquired blue-chip NFT project Cryptopunks and Meebits, as well as raising $450M at a $4B valuation to further expand its presence.