Leaked data shows that Yuga Labs has sold more than $300 million worth of metaverse land, which cost the OG NFT developers $4.6 million to build and sell
Recently leaked data shows that, since the get-go in 2021, Yuga Labs has made a whopping $137 million from non-fungible token (NFT) initiatives, reaping a generous net revenue of 84% and a profit margin of 95.5%.
Quick Take:
- The most significant revenue comes from virtual land sales from “The Otherside” metaverse.
- Yuga Labs has sold more than $300 million worth of metaverse land.
- It cost Yuga Labs a total of $4.6 million to build and sell its land.
Quick Overview of Yuga Labs’ Success
If you’re a part of the Web3 space, you will know the name “Yuga Labs”. The company launched in 2021, unveiling the most significant non-fungible tokens to date—Bored Ape Yacht Club (BAYC), Crypto Punks, and numerous spinoffs.
The collectibles have partaken in film trilogies, music videos featuring Snoop, and much more.
Following the collections’ success, you would be a billionaire if you were lucky enough to get hold of all Yuga Labs’ NFTs and sell them on. Many of these digital assets sell for six figures alone on secondary marketplaces like OpenSea.
To put things in perspective, check out these most expensive CryptoPunks.
Related Content: Why Do NFTs Hold Their Value?
Following this, the OG crypto company has made insane profits since day-dot. Profits that other NFT creators can only dream of making.
It has made a whopping $137 million from their creation of non-fungibles, reaping a generous net revenue of 84% and a profit margin of 95.5%.
Leaked Data – What Makes Yuga Labs’ NFTs Valuable
Given that Yuga Labs is the curator of many valuable NFT collections—BAYC, Crypto Punks, Otherdeed for Otherside, etc.—it’s difficult to determine which collectibles make this Web3 firm the most amount of funds. Let alone the reasons why.
Is it the fuzzy-haired pixelated punks that appeal to collectors the most, the stoned-looking apes with attitude, or the reasonably recent Kodas—all of which have a unique blend of environment and sediment that is playable on the Otherside metaverse?
All collectibles are valuable in the space. Not forgetting, Yuga Labs makes extra profits from games, royalties, and spinoff drops, including the ever-so-famous Bored Ape Kennel Club and Mutant Ape collections.
On the other hand, YugaLabs’ metaverse, Otherdeed, is another big hit for NFT and cypto collectors.
Luckily, this recent leak answers those all-important questions regarding Yuga Labs’ financial situation:
Interestingly, according to recent statistics from this leaked deck, the most significant chunk of revenue comes from virtual land sales in “The Otherside” metaverse.
Back in May, Yuga Labs sold more than $300 million worth of land. In total, the building and selling of this land cost the Web3 firm $4.6 million.
The volume of these sales shows that Web3 gaming is what significantly profits Yuga Labs.
So, thanks to this leaked data, we now know that on-chain gaming is the right rabbit hole to dig into.
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