Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC) NFT collection, expects to generate $455 million in revenue in 2022, mainly through the sale of virtual earth in a future metaverse.
In 2021, the net revenue of the project amounted to $127 million. The sales of the project’s collection tokens exceeded $1 billion, including the secondary market.
In order to diversify revenues, Yuga Labs has decided to expand beyond its NFT collection and some something else.
The project has reported that users will have to complete KYC procedures in order to participate.
Yuga Labs has previously acquired the intellectual rights to the CryptoPunks and Meebits NFT collections from Larva Labs.