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Top NFT News Today – 12 January, 2024

The resurgence of non-fungible tokens (NFTs) appears to be gaining momentum, and today appears to be a significant day for Yuga Labs.

In November, Yuga Labs announced a partnership with Magic Eden to introduce the Magic Eden Ethereum Marketplace by the end of the year. However, the team admitted that the initial timeline was overly ambitious and has not provided further specifics on the project’s status.

Meanwhile, the Bored Ape Yacht Club by Yuga Labs responded to community feedback by releasing a new Otherside trailer. This move came after criticism regarding the quality of the original trailer, which was unveiled just two days prior.

CryptoPunks, another notable NFT project, has launched a new hub that serves as the “living source” for the entire project.

Simultaneously, NFT projects under the Yuga Labs umbrella are currently performing exceptionally well and are among the top performers in terms of sales volume.

For a more comprehensive look at these developments, let’s explore them in greater detail.

Yuga Labs NFT News: ‘Apes Come Home Remastered’

On January 9th, Yuga Labs, the creators of the popular NFT collection Bored Ape Yacht Club (BAYC), unveiled a trailer for the third playtest of their eagerly awaited metaverse project called Otherside. The 20-second trailer received a mixed response, with many expressing disappointment over its quality.

Subsequently, on January 11th, the team re-released the trailer, humorously dubbing it a “remastered version” and playfully celebrating its “second-day anniversary.” This updated version of the trailer garnered a more favorable reception, as it showcased clear improvements in video quality. Many also appreciated the team’s lighthearted approach.

However, some individuals argued that while the increased resolution improved the video, it still fell short of their expectations.

It’s worth noting that a year ago, Wylie Aronow, also known as Gordon Goner and a co-founder of Yuga Labs/BAYC, announced his departure from the project as a core team member. This move was made to prioritize his health and well-being.

CryptoPunks Brand Hub Unveiled

One of the most renowned NFT projects has introduced its brand new hub. The CryptoPunks team describes this hub as “an archive and living source for project information and initiatives.”

According to the website,

“It’s a combination of an iconic NFT collection, a dynamic art experiment, and a technological endeavor. What started as 10,000 pixelated punks born on the blockchain in 2017 has evolved into an ongoing collaboration involving a community of creative minds, builders, and technologists. The project includes an archival program dedicated to preserving its significance in the realm of digital art history, along with groundbreaking initiatives and unique partnerships that extend its legacy, all while staying true to the punk spirit that defines CryptoPunks.”

This hub was developed in collaboration with Alright Studio, a US-based strategy, design, and technology agency.

The agency commented, “new work in collaboration with our friends cryptopunksnfts — a living, breathing, and ever-evolving archival hub. more soon!”

Currently, the hub features sections such as ‘about,’ ‘legacy,’ ‘index,’ and ‘marketplace.’ The ‘cart’ and ‘goods’ sections are noted as “coming soon.”

CryptoPunks were initially created by Larva Labs in 2017. In 2022, Yuga Labs made an announcement stating that they had acquired the intellectual property rights for Larva Labs’ CryptoPunks and Meebits collections.

BAYC Sales Jump 570% in a Day, CryptoPunks Up 510%

Within the Yuga Labs ecosystem, both the Bored Ape Yacht Club (BAYC) and CryptoPunks are currently leading the way as the top performers among the top 10 NFT collections in terms of sales volume.

According to CryptoSlam data, BAYC has experienced a remarkable increase of 568.5% in sales over the past 24 hours. Following closely behind, CryptoPunks has seen a 510% surge in sales during the same period. Notably, both of these collections have significantly improved their rankings since the previous day.

BAYC has ascended one position in just a day and now occupies the second spot on the list, while CryptoPunks, which wasn’t among the top 5 yesterday, has risen to the third position.

Furthermore, Yuga Labs’ Mutant Ape Yacht Club (MAYC) has also demonstrated a strong performance, with its sales increasing by 80%.

All in all, it has been a highly successful day for Yuga Labs and its associated NFT collections.

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