Yuga Labs Likely to Launch ‘Mecha Apes’ NFT Collection

It has been rumored that ApeCoin-powered Web3.0 company Yuga Labs who is the creator of Bored Ape Yacht Club (BAYC) plans to release a new collection of non-fungible tokens (NFTs) by the end of this year.

According to a leaked document obtained by news podcast Protos, the prospective NFT collection is called Mecha Apes. In addition to its launch, Protos claims that Yuga Labs will secure an additional $50 million from its Otherdeeds sales of 100,000 tokenized metaverse land. 

Initially, there had been a selloff where 100,000 pieces of “Otherdeeds for Otherside” NFT collectibles were sold.

The BAYC creator described the Otherdeeds as “where players will be able to interact simultaneously in a single place, connect with natural voice chat (even in crowds of thousands), experience rich, immersive gameplay supported by AI and physics, and move between metaverses.”

Each piece from the ‘Otherdeeds for Otherside’ NFT collection was sold for $6,000 per unit at the initial price thereby generating $600 million at the end.

Shortly after, the floor price of the collection began to experience a drop below its mint price until it reached a nominal $2,700 as both the value of ether and the ether floor price plummeted during the current bear market. 

Yuga Keep Silent About NFT Release

While the Mecha Apes collection remains undisclosed, a piece of it was discovered to be promoted as one of the artifacts in the Otherdeeds NFT collection sales.

Although not certain of the veracity of the news of the launch of the Mecha Apes, Yuga Labs is known to be quite secretive about the launch of any of its NFT collectibles. Only a few of its plans are publicly published like the ones outlined during its $450 million funding round which raised its valuation to $4 billion.

For quite some time now, Yuga Labs has been working together with blockchain game publisher Animoca Brand on an undisclosed project.

Both companies failed to reveal any information about their collaborative projects, instead, they asked interested users to sign up for the know-your-customer (KYC) procedure. So far, they have been working underground on the undisclosed project for eleven months.