Yuga Labs, known for its management of popular NFT collections like Bored Ape Yacht Club (BAYC) and CryptoPunks, is opening its doors—virtually speaking—to the public with its first-ever Yacht Club Open House. Scheduled for November 5, 2023, in Kai Tak, Hong Kong, the event aims to offer an inside look into the world of Yuga Labs and web3 technology. The Open House follows the much-anticipated ApeFest 2023 exclusive to the Bored and Mutant Ape community.
An Array of Industry Leaders and Topics
The event promises a broad range of discussions led by a lineup of notable speakers. Illa DaProducer, a 12-time platinum Grammy-nominated music producer, will be present, alongside Yat Siu, Executive Chairman and Co-Founder of Animoca Brands. Topics on the table range from the future of gaming in a Web 3.0 world to how intellectual property can empower brands and why cultural institutions are looking beyond physical spaces.
Daniel Alegre, CEO of Yuga Labs, emphasized the importance of web3 adoption: “The key to web3 is greater adoption and people seeing the benefits it can offer,” said Daniel Alegre, CEO of Yuga Labs. “That’s why we are thrilled to welcome every single person—from community members to the crypto-curious—to our first ever Open House for a memorable experience focused on the future of storytelling, music, gaming and more.” Tickets to the event are limited and available on a first-come, first-served basis.
Growth and Initiatives: The Road So Far
Yuga Labs has been a headline-maker since its inception in April 2021. Notably, it was among the first companies to offer IP licenses to NFT holders. It made waves in the web3 space with Otherside, a community-built metaverse project. In March 2022, the company raised a $450 million seed round at an impressive $4 billion valuation. The company recently began a organizational overhaul, which involves an unspecified number of job cuts that are mainly affecting its teams in the United States. Despite these reductions, the firm plans to maintain a workforce of more than 120 employees after the restructuring.
The Yacht Club Open House signals Yuga Labs’ ongoing commitment to ushering in the next wave of web3 users. As the company continues to innovate, the industry and the public alike will be watching keenly to see what steps it takes next.