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Yuga Labs, the digital asset incubation studio and the team behind the globally acknowledged Bored Ape Yacht Club and Mutant Ape Yacht Club non-fungible token collections, has revealed plans to reward the Bored Ape Yacht Club and Otherdeed non-fungible token holders. There are speculations that the creator of the Bored Ape Yacht Club may create an NFT coin to reward its users.
Greg Hints At Rewarding Bored Ape NFT Holders
In a January 23 chat with one of his fans on X (formerly Twitter), Greg Solano, the founder of Yuga Labs, best known as Crypto Garga, confirmed plans to reward the Bored Ape Yacht Club and Otherdeed NFT holders. The revelation came after a user, “@Lordrag,” asked the Yuga Labs founder ‘Crypto Garga’ what really happened to the Otherside, his metaverse gaming venture, which lost hype a few months after launch.
In his defense, the Yuga Labs top executive blamed the unfriendly regulatory environment for crypto in the United States of America under President Joe Biden. Nonetheless, Crypto Garga has shared his excitement about the re-election and inauguration of President Donald Trump, who has vowed to offer ample crypto and NFT regulatory environment in the United States. Garga has revealed his team will launch the reward program for Bored Ape Yacht Club and Otherdeed NFT holders before the end of this year.
JUST IN: BAYC founder @CryptoGarga reveals upcoming rewards for BAYC and Otherdeed holders 👀
Speculation is circulating that a new token will be launched soon
Especially due to recent regulatory developments surrounding crypto pic.twitter.com/WLNULsjtCj
— BlockNews (@blocknewsdotcom) January 22, 2025
Launched in 2021, Yuga Labs is a digital asset firm focused on shaping the future of Web3 through storytelling, experiences, and community. The firm is known for its work in crypto, digital media, and blockchain. Yuga Labs is home to some of the leading NFT collections, including the Bored Ape Yacht Club, Mutant Ape Yacht Club, Otherdeed, Bored Ape Kennel Club, and Twelvefold.
The digital asset firm owns the intellectual property to CryptoPunks, another globally acknowledged non-fungible token collection featuring a fixed set of 10,000 pixilated NFTs hosted on the Ethereum network; Meebits, a non-fungible token collection featuring a limited edition of 10,000 pixilated NFTs and Moonbirds, a renowned non-fungible token collection previously created by the digital asset firm Proof Collective.
Bored Ape NFTs Rise +50% In Daily Sales Volume
In response to Crypto Garga’s announcement, the Bored Ape Yacht Club NFT collection has seen a surge in its trading sales volume and floor price value. In the past 24 hours, the Bored Ape NFT collection has raised a trading sales volume of 397 ETH, up 57% from the previous day. During this period, the Bored Ape NFT floor price has surged by 9.8% after rising from 13.20 ETH to 14.55 ETH.
Source: CoinGecko.com, Bored Ape Yacht Club trading activity in the past 24 hours
Otherdeed, a renowned non-fungible token collection from Yuga Labs representing virtual land parcels within the Otherside metaverse, has also reacted sharply to Greg Solana’s revelation. In the past 24 hours, the Otherdeed NFT collection has recorded a trading sales volume of 10.24 ETH, up 174% from the past day. During this time, the Otherdeed NFT floor price has surged by 16% after rising from 0.15 ETH to 0.19 ETH.
Source: CoinGecko.com, Otherdeed NFT trading activity in the past 24 hours
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