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Yugalabs Rakes in $107.8 Million in Royalties

In 2022, royalties from the NFT brought in $49.9 million for Otherdeeds, $32.3 million for BAYC, and $25.6 million for MAYC.

MilkRoadDaily reports that Yuga Labs made $107.8 million in royalties from Otherdeed for Otherside, Bored Ape Yacht Club (BAYC), and Mutant Ape Yacht Club (AAYC) (MAYC).

Furthermore, in 2022, the NFT project Otherdeed for Otherside earned the most, at $49.9 million. The Otherside Metaverse is represented here with its territories. In March of 2022, Yuga Labs unveiled and released its Otherside Metaverse. Users need to invest in Otherdeed lands to access the Otherside Metaverse.

Third place and $32.3 million were achieved by Yuga Labs’ first NFT collection, BAYC. MAYC placed sixth in sales with $25.6 million.

According to data compiled by Milkroad in 2022, the following 10 NFT collections were ordered by revenue.

After Otherdeed for Otherside from Yuga Labs, Azuki came in at $41.5 million in sales, good enough for second place. The fourth and fifth places were CloneX and Moonbirds, with earnings of $27.7 million and $27 million, respectively.

Included in the top 10 were the titles Doodles ($17.1 million), RTFKT MNLTH ($16.5 million), NFT Worlds ($12.8 million), and Beanz ($11.2 million).

YugaLabs Overview:

Yuga Labs is a company that deals with the marketing and development of NFTs and cryptocurrencies. The company was created in 2021. It began selling Bored Ape NFTs in April 2021 with the Bored Ape Yacht Club (BAYC), and since then, it has produced further NFTs and Metaverse-based solutions. The sales of Bored Ape NFTs began with the BAYC. The name Yuga was taken from a video game character that can transform its enemies into two-dimensional works of art. The history of people in the bitcoin community referring to themselves as apes inspired the incorporation of apes into the Bored Ape Yacht Club.

When the founders of the company were asked what drew them to the concept of non-fungible tokens (NFTs), they responded that they were gamers who played games such as World of Warcraft, Everquest, and Star Wars Galaxies and that NFTs and the Metaverse appeared to be a new era of gaming experiences. In early 2022, around one year after the business’s formation, it had become the most valuable NFT project in terms of market cap. 

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