Summary
TLDR: Yuga Labs, managing top NFT collections, had a strange few days with acquiring PROOF, CEO change, and Otherside update. Facing competition from Pudgy Penguins, Yuga aims to focus on Bored Apes and Otherside metaverse. Pudgy Penguins expands brand with toys and top-level domain. Autoglyphs NFT collection sold for $14.5 million.
Key Points
1. Yuga Labs acquired PROOF, the NFT shop known for its Moonbirds profile picture collection, and made a second CEO change in under a year.
2. Yuga Labs has struggled to maintain its heralded status, with feisty rival Pudgy Penguins nearly surpassing Bored Apes’ price floor.
3. Pudgy Penguins made additions to its intellectual property brand by expanding its toy collection in major US retail chains and unveiling a .pudgy top-level domain at NFT Paris.