Yuga Labs has plans to raise up to $50 million through a new NFT collection!

Yuga Labs will return for more. At least that's what the rumors are saying, as a supposedly leaked document describes an upcoming debut that may be available by the end of the year and is, as news has it, titled "Mecha Apes." 

Through this project, they intend to raise another $50 million 100,000 metaverse land pieces! A "Mecha Piece" has been mentioned as one of the exhibits in the Otherdeeds, despite the fact that there is no additional information about Mecha Apes.

Otherdeeds for Otherside!

The Otherdeeds are labelled by Yuga Labs as a place “where players will be able to interact simultaneously in a single place, connect with natural voice chat (even in crowds of thousands), experience rich, immersive gameplay supported by AI and physics, and move between metaverses.”

The company made $600 million from the sold-out 100,000-piece "Otherdeeds for Otherside" NFT collection, with each deed selling for $6,000 at first. Since then, as ether's value and the floor price both fell amid the current bear market, the price has decreased to a nominal $2,700. The volume of NFT trading has also decreased by 99% since its peak in 2017.

Yuga Labs has always been confidential with its releases!

Yuga Labs has always kept its NFT launches very under wraps, but it did share some of its plans and concepts in a $450 million seed round earlier this year. Yuga Labs wants to create a metaverse-based media kingdom on Web 3.0, complete with games and artwork.

And that's it!

The Bored Ape Yacht Club, the invention that made Yuga Labs famous, has seen the second-highest trading volume so far with 661,900 ether traded. This group has so far monopolised the NFT space and even acquired the rights for the well-known collections known as Meebits and CryptoPunks.