Bored Ape Yacht Clubs' Yuga Labs Accounts for 35% of Total Volume
The NFT market has not been faring that well. On one hand, trade volume has been on the decline. On the other hand, the number of sellers has been eclipsing the number of buyers, making it another cause of concern. According to press time data, the market welcomed over 7,838 buyers over the past 24 hours. In the same time period, however, the market was characterized by 8,542 sellers. Even in the midst of such a turbulent environment, Yuga Labs, the creator of the Bored Ape Yacht Club, continues to dominate the NFT market. A recent report from DappRadar noted that it accounted for around 35% of the total NFT trading volume. This was during the six-month period from October 2022 to March 2023. Apart from Bored Ape Yacht Club , Yuga Labs ’ name is also associated with Mutant Ape Yacht Club and Otherside for Metaverse NFT collections. The company also went on to acquire CryptoPunks and Meebits from Larva Labs last year. All of Yuga Labs ’ projects generated around one-third of the tota...