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Yuga Labs announces workforce restructuring to prioritize internal goals, metaverse
As part of the company's restructuring, Yuga Labs lays off some U.S.-based staff to focus on team core priorities, Web3 development, and Otherside strategy.
As part of the company's restructuring, Yuga Labs lays off some U.S.-based staff to focus on team core priorities, Web3 development, and Otherside strategy.
Sotheby's is caught in a legal storm as a group of investors files a class-action suit due to allegations of misleading and price manipulation of Bored Ape Yacht Club token sales.
Yuga Labs settled with Thomas Lehman, whom it had accused of building websites and smart contracts for Ryder Ripps’ offshoot collection of 10,000 NFTs.
A total of 37 defendants were named in the suit, including famous celebrities like Serena Williams, Snoop Dogg, Steph Curry, DJ Khaled, Kevin Hart, Justin Beiber, Paris Hilton, and Madonna.
The U.S. securities regulator has yet to make a formal accusation against Yuga Labs for any wrongdoing as the investigations are still in the preliminary stages.
According to a veteran law firm Scott+Scott, Yuga Labs lured unsuspecting investors to part away with hard-earned funds by using celebrity promoters “to inflate the price of the NFTs and tokens.”
Yuga Labs has sued Ryder Ripps, a self-proclaimed conceptual artist who has been selling copycats of BAYC NFTs, which he claims are for satirical purposes.
Digital assets security researcher Zachxbt revealed that 91 NFTs were stolen, and most of the funds from the stolen NFTs found their way to KuCoin and Binance.