According to a new report from DappRadar, Liputan6.com Jakarta Yuga Labs, creator of Bored Ape Yacht Club’s NFT collection, continues to dominate the NFT market, accounting for nearly 35% of total NFT trading volume over the past six months.
Besides Bored Ape Yacht Club and Mutant Ape Yacht Club and related groups including deeds to the metaverse game Otherside, Yuga Labs also acquired intellectual property rights to the CryptoPunks and Meebits NFT projects from their original creators. Lava Factory 2022.
According to the report, projects created or owned by Yoga have generated total revenues of more than $2 billion or IDR 29.3 trillion (assuming an exchange rate of IDR 14,693 per US dollar) over the past two quarters. This accounted for 34.6% of the total market size during that period.
Bored Ape Yacht Club leads the personal photo NFT (PFP) market with a base price of 51.45 ETH or approximately $99,000 USD, followed by CryptoPunks with a price of 49.49 ETH or approximately $95,150 USD (equivalent to Rs 1.3 billion).
Launched in April 2021, Bored Ape Yacht Club (BAYC) is a collection of 10,000 profile pictures issued as NFTs on the Ethereum blockchain. It is rapidly gaining popularity.
Unsatisfied with the Ethereum network, Yuga Labs in February launched TwelveFold, a collection of 300 “NFT” on the Bitcoin network using Ordinals Inscriptions.
Yuga Labs Wins Traditional NFT Collection
Yuga Labs is known for allowing NFT holders to create and even sell derivative products and products, but the company has also defended its intellectual property (IP) rights in court.
Last week, Yuga Labs won what the company calls a “major legal victory for Web3” when a federal judge ruled in favor of artist Ryder Ripps and his ally Jeremy Cahen.
The two launch a group of Bored Ape yacht club clones called RR/BAYC, which they call a parody of Project Yuga.
Disclaimer: All investment decisions are in the hands of the reader. Research and analyze cryptocurrencies before buying or selling them. Liputan6.com is not responsible for any profit or loss resulting from investment decisions.