Yuga Labs Became The Most Valuable NFT Developer

Yuga Labs became the most valuable NFT developer when it bought all rights to two major NFT collections.

Yuga Labs, which attracted great attention with its monkey-themed NFT collection called Bored Ape Yacht Club and reached a valuation of around 5 billion dollars, announced that it has purchased two important competitors in the sector. Competition in the NFT world, whose specific collections are worth hundreds of millions of dollars, is now getting hotter. We see that competitors start to buy each other in order not to be crushed in the face of competition. Bored Ape Yacht Club - BAYC developer Yuga Labs, which is shown as one of the most valuable collections in the industry, announced that it has acquired two other important collections, CryptoPunks and Meebits. Yuga Labs, which made an agreement with Larva Labs, the developer of these two collections, bought all its rights. In total, 423 Cryptopunks and 1711 Meebits NFT works are included in the deal. Only the Autoglyphs collection is left by Larva Labs. Thus, Yuga Labs has the most valuable NFT collection. The price of the purchase was not disclosed.