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Nifty News: Yuga cuts staff, NFT trading volume on Mythos Chain surges and more

Press Releases Crypto News Cointelegraph Nifty News: Yuga cuts staff, NFT trading volume on Mythos Chain surges and more

Cutbacks at Yuga Labs

Bored Ape Yacht Club creator Yuga Labs has announced a restructuring that has seen several roles “eliminated across the company.”

The exact number of layoffs hasn’t been specified; however, in an Oct. 6 blog post shared via X (formerly Twitter), Yuga Labs CEO Daniel Alegre suggested the firm had taken on too many projects that were ultimately distracting it from its “core priorities.”

Yuga Labs is announcing a restructuring that will better focus our team on our core priorities. While certain roles have been impacted, these changes are necessary to evolve as an organization.
For more see a note written by @dalegre on our https://t.co/722YfqwaCB official blog.

— Yuga Labs (@yugalabs) October 6, 2023

“I realized very quickly that there were a number of projects that, while well-intentioned, either spread the team too thin or required execution expertise beyond our core competencies,” he said, adding that:

“To create truly amazing experiences that matter to our communities and our business, we need to place our bets on fewer key initiatives and team up with complementary external partners to make these experiences happen.”

Moving forward, Alegre outlined that the firm will ramp up its focus on community building, “going all-in” on its Otherside metaverse project and securing brand partnerships.

Nike’s new Web3 sneaker

Nike’s Web3 unit .Swoosh has unveiled its first physical sneaker line called the Air Force 1 Low Tinaj.

The sneakers contain a mixture of white and black panels and feature blue .Swoosh logos.

As per an Oct. 5 announcement on X, the sneakers will only be available to .Swoosh members who purchase and open at least one OF1 Box nonfungible token (NFT) before the Oct. 16 deadline.

Meet the newest member of the .SWOOSH family, TINAJ

Our first ever physical sneaker is here! Well…almost here. pic.twitter.com/jHNZBhqbtz

— .SWOOSH (@dotSWOOSH) October 4, 2023