Beeple’s 10KTF NFT Project, WENEW, Acquired By Bored Ape Creator Yuga Labs

Beeple will act as a guide for Yuga after the NFT startup he helped to establish joins the Exhausted Primate team.

Bored Ape Yacht Club creator Yuga Labs isn’t done expanding. After purchasing the CryptoPunks and Meebits NFT project IP from Larva Labs in March, the startup today announced that it has acquired NFT startup WENEW, co-founded by famed artist Mike “Beeple” Winkelmann.

WENEW has sought after various brand-coordinated efforts since sending off in June 2021, incorporating Gucci, Louis Vuitton, Playboy, and the Wimbledon tennis competition. The startup is likewise known for 10KTF, an Ethereum NFT project that worked around an imaginary designer that makes computerized clothing for different high-esteem profile picture (PFP) projects — including Bored Apes.

Yuga Labs has obtained the startup and will add WENEW prime supporter and President Michael Figge as its new Boss Substance Official. Beeple, in the meantime — who is most popular for selling a solitary piece of NFT fine art for $69.3 million at closeout in Walk 2021 — will act as a counsel to Yuga Labs.

10KTF is a story-driven NFT project built around a fictional “digital artisan” named Wagmi-san, who develops custom outfits that owners of popular PFP projects—including the Bored Apes, but also Cool Cats, Nouns, Moonbirds, and others—can have applied to their owned NFT artwork. Owners can also order physical apparel based on their PFP artwork.

Attire brands, for example, Gucci and Panther have recently done advanced design joint efforts with 10KTF. Yuga Labs has proactively prodded some sort of execution of Wagmi-san into its forthcoming Exhausted Chimp-driven metaverse game, Otherside. A Yuga Labs delegate told that the terms of the arrangement are not being revealed.

An NFT is a blockchain token that represents ownership in a unique item, often for digital goods like profile pictures, artwork, and collectibles. The Bored Ape Yacht Club is one of the most successful projects in the space, yielding nearly $2.5 billion to date in secondary sales, per data from CryptoSlam.

Last week, in front of the securing declaration, three Yuga Labs prime supporters co-marked a blog entry with 10KTF CTO Randy “Melonpan” Chung censuring NFT commercial center OpenSea’s position on maker sovereignties. The day after the post was shared, OpenSea headed in a different direction and said that it will keep on regarding eminences on optional deals.

In March, following news that Yuga had acquired the CryptoPunks and Meebits IP, the startup announced that it had raised $450 million at a $4 billion valuation.

One of Yuga’s supporters was FTX Adventures, which failed spectacularly last week when the famous cryptographic money trade fell amid a liquidity crunch. On Friday, Yuga prime supporter Wylie “Gordon Goner” Aronow tweeted that the FTX breakdown “hasn’t impacted us,” and that it recently eliminated reserves that it held in FTX US.