- Yuga Labs is coming up with Mecha Apes, a new NFT collection.
- The revelation about the upcoming NFT collection is the result of a leaked document.
- $50 million will be raised from the new NFT collection.
Yuga Labs is set to launch an NFT collection, Mecha Apes, which will generate $50 million.
The plan will increase Yuga Labs’ capital after it made $450 million in March through seed funding. Also, it raised $600 million through the NFT sales of Otherside.
Ever since the launch of Bored Ape Yacht Club last year, Yuga Labs have turned expert in releasing NFT collections. It is expanding its ecosystem by adding more products.
Before 2022 ends, a set of NFTs are expected from Yuga Labs.
Mecha Apes’ actual nature can’t be described, as per a leaked document. However, it could be said that Yuga Labs has pre-positioned the concept of Mecha to an extent since Mecha Pieces belonged to Otherside land NFT collection.
All this has given birth to the speculation regarding Mecha Pieces’ greater role in the Bored Apes ecosystem.
However, among all these speculations, Garga, Yuga Labs co-founder, has called the report ‘fake news.’
fake news👍 https://t.co/KVMaO18IaF
— Garga.eth (@CryptoGarga) September 15, 2022
As of now, its valuation is $4 billion, which seems to go up with further NFT collections that are all set to make their way. All in all, it won’t be wrong to say that Yuga Labs’ monkey business is doing phenomenal.