A person walks by Bored Ape Yacht Club NFT characters inside Radio City Music Hall during the 4th annual NFT.NYC conference on June 21, 2022 in New York City.
Yuga Labs, the creator of the viral Bored Ape Yacht Club non-fungible tokens, announced a new round of layoffs on Friday as the NFT frenzy appears to cool.
But despite Bored Ape Yacht Club's substantially lower floor price, the NFT market is still showing some signs of life.
How YugaLabs got startedYugaLabs' Bored Ape Yacht Club collection launched in April 2021 with 10,000 NFTs depicting the cartoon apes with various colors, clothing and facial expressions.
The startup went on to release several other NFT collections, including Mutant Ape Yacht Club and CryptoPunks.
Persons:
Greg Solano, Justin Bieber, Paris Hilton, Sotheby's, YugaLabs
Organizations:
Radio City Music Hall, Yuga Labs, ETH, Yacht, CryptoPunks
Locations:
New York City