“Aiming for the forefront Web3 platform”
Yuga Labs, creator of popular NFT (Non-Fungible Token) collections such as Bored Ape Yacht Club (BAYC), today announced the hiring of gaming industry professional Mike Seavers as Chief Technology Officer (CTO). .
Suggests to put serious effort into the Web3 game business.
Seavers has been in the technology field for 25 years, most recently in the gaming industry. As head of development at Epic Games, he led the development of popular titles such as the popular game “Fortnite.”
Also, at Riot Games, as Chief Technology Officer, he is involved in game titles such as “League of Legends”, “Valorant” and “Legends of Runeterra”. In addition to games, he is also familiar with the Metaverse.
Seavers plans to join Yuga Labs on May 22 and commented:
I’ve rarely had a moment when a new technology brought about a real paradigm shift in the world, and I think “web3” is one of them.
I look forward to joining Yuga Labs and pioneering a new era of Internet that will have a positive impact on the world.
Yuga Labs CEO Daniel Alegre explains why Seavers was hired:
Mike Seavers has a proven track record and shares our vision for the importance of identity and community in the digital space for the Internet of the future.
Yuga Labs has the potential to become a web3 platform at the forefront of community and social activity in the digital space by providing media and entertainment. Seavers’ expertise will help you achieve that.
Alegre CEO himself has a history of serving as the top of Activision Blizzard, a major US game company. He has been CEO of Yuga Labs since December 2022.
Yuga Labs is developing “Otherside,” a metaverse that incorporates NFTs and is also a massively multiplayer online RPG.
connection: BAYC’s metaverse “Otherside”, second teaser video released
What is Web3
The current centralized web is defined as Web2, and refers to an attempt to realize a non-centralized network using blockchain. A typical feature is the use case of decentralized networks such as blockchain, such as access to dApps using virtual currency wallets.
Overwhelm others in the NFT market
According to a DappRadar report, Yuga Labs accounted for about 35% of all NFT trading volume in the six months from October 2022 to March 2023. Of the approximately 790 billion yen (approximately $5.8 billion) in NFT trading volume during this period, it accounts for approximately 270 billion yen (approximately $2 billion).
Yuga Labs was founded in February 2021 and has grown rapidly over the past two years. In addition to BAYC, in 2022 it acquired the popular NFT collections “CryptoPunks” and “Meebits” and has 16 collections.
connection: Yuga Labs installs royalty fees on NFT collection “Meebits”