Cuts at Yuga Labs
Bored Ape Yacht Club maker Yuga Labs has announced a restructuring that has seen several roles “eliminated across the company.”
However, the exact number of layoffs has not been specified, but in an October 6 blog post shared via “key priorities.”
Yuga Labs announces a restructuring that will better focus our team on our core priorities. Although certain roles have been affected, these changes are necessary to evolve as an organization.
For more information, see a note written by @dalegre on our https://t.co/722YfqwaCB official blog.— Yuga Labs (@yugalabs) October 6, 2023
“I quickly realized that there were a number of projects that, while well intentioned, spread the team too thin or required execution expertise beyond our core competencies,” he said, adding:
“To create truly amazing experiences that matter to our communities and our business, we must focus on less important initiatives and collaborate with complementary external partners to make these experiences possible.”
Looking ahead, Alegre outlined that the company will increase its focus on community building, “go all in” on its Otherside metaverse project and secure brand partnerships.
Nike’s new Web3 sneaker
Nike’s Web3 unit .SWOOSH has unveiled its first physical sneaker line, the Air Force 1 Low TINAJ.
The sneakers feature a mix of white and black panels and feature blue .SWOOSH logos.
According to an October 5 announcement on X, the sneakers will only be available to .SWOOSH members who purchase and open at least one OF1 Box NFT before the October 16 deadline.
Meet the newest member of the .SWOOSH family, TINAJ
Our very first physical sneaker is here! Well…almost here. pic.twitter.com/jHNZBhqbtz
— .SWOOSH (@dotSWOOSH) October 4, 2023
TheOF1 Boxes cost $120 each and are available on the .SWOOSH website.
The catch, however, is that not everyone who opens the boxes will be able to get their hands on these shoes. The .SWOOSH team noted on X that there is only a limited supply and did not specify the exact quantities available.
Those who open OF1 Boxes that do not provide access to the TINAJ shoes will likely receive other benefits and access to other drops later.
.@rothisrad https://t.co/VRltVWT3rr
— .SWOOSH (@dotSWOOSH) October 6, 2023
Mythos Chain flows past Polygon and Solana
Rising NFT trading volume on the gaming-focused Mythos Chain has seen the network overtake Polygon and Solana to become the second-largest blockchain in terms of NFT sales volume over the past 30 days.
According to data from CryptoSlam, Mythos Chain has seen NFT sales volume worth $33.5 million over the past 30 days, marking a 20.31% increase in that period.
By comparison, Polygon and Solana each saw $30.9 million and $27.9 million, down 45.50% and 16.77%, respectively.
Top 10 Blockchains by NFT Sales Volume. Source: CryptoSlam
Nearly all of Mythos Chain’s trading volume comes from DMarket, an NFT marketplace that hosts NFTs from a list of games affiliated with Mythical Games, the company behind the Mythos Chain.
One game that may be responsible for the increase in NFT sales is Nitro Nation World Tour, a Web3 mobile street racing game that officially launched in October. The game is supported by the popular DJ Deadmau5.
Suit up and rev your engines! ️ The Nitro Nation – World Tour has officially begun!
Download the game now!
Apple: https://t.co/eHp5aMqnxaAndroid: https://t.co/VLXRpDRTpB pic.twitter.com/fClA0z5CST
— Nitro Nation World Tour (@NitroNationTour) October 5, 2023
Starbucks symbolizes Pumpkin Spiced Lattes. But why?
Starbucks has released an open-edition set of Pumpkin Spiced Latte NFTs on the Nifty Gateway marketplace.
The NFTs cost $20 each and went on sale on October 5, and will be available until October 9.
At the time of writing, 1,213 NFTs have been minted, indicating that Starbucks has raked in just under $25,000 from the collection to date.
Pumpkin spiced latte licorice. Source: Nifty Gateway
The NFTs are part of the coffee chain’s Web3 loyalty program, called Starbucks Odyssey. The program includes NFT stamps, such as the Pumpkin Spice Latte, that can be collected to earn points and specific rewards.
Other nice news
Hong Kong-based crypto-focused venture capital firm CMCC Global has raised $100 million to back Asian blockchain startups. Called the Titan Fundit will focus on investments in key areas: blockchain infrastructure, consumer applications such as gaming and NFTs, and financial services including exchanges, wallets and lending and borrowing platforms.
PayPal has made major strides in creating its own blockchain ecosystem by filing a patent application for an NFT purchasing and transferring system. The filing, filed in March and published on September 21, describes a way to transact with NFTs both on- and off-chain.