Yuga Labs Dominates NFT Ecosystem with $7 Billion Valuation

Yuga Labs is a billion-dollar company that has made a huge fortune in the NFT ecosystem. Founded by Gordon Goner and Gargamel, also known as Greg Solano and Wylie Aronow, in February 2021, Yuga Labs is behind several successful projects, including the $3 billion Bored Ape Yacht Club (BAYC) collection.

The company's other notable projects include Meebits NFTs, Cryptopunks NFTs, and Otherside. One of its key features is its focus on community building and fair distribution, which has contributed to its success. For example, the membership and Bored Ape price are fixed for all members, and the project allows holders to monetize their NFTs in various ways.

Yuga Labs' expansion plans have included acquiring CryptoPunks and Meebits, two of its biggest competitors in the NFT space. This acquisition has cemented Yuga Lab's position at the top and given it rights, brands, and copyright to both projects. The company also launched Otherside, a gamified metaverse that allows users to convert their NFTs into playable characters.

The native and governance token of the project is ApeCoin (APE), which was launched in March 2022. APE has a total supply of 1 billion coins and cannot be burned or minted. The token is available for purchase on exchanges like Binance, Coinbase, Gate.io, SushiSwap, etc.