"It's a challenging time, not only for our industry but also for the global economy," wrote Yuga Labs CEO, apparently hoping that people ignorant to the past year of disaster across the NFT industry might be willing to attribute Yuga Labs' struggles to macroeconomic forces and not the implosion of the crypto — and particularly NFT — world.
Bored Apes' Yuga Labs lays off employees
Even the best known NFT brand can't escape the effects of a collapsing industry. Yuga Labs, the company behind the blue-chip Bored Apes NFTs and related collections, and the acquirers of collections including CryptoPunks, has announced that it will be joining the many other companies in the crypto world performing layoffs. They did not disclose how many employees would be losing their jobs.