📣 BAYC and ApeCoin Creators Acquire Tokenproof Tech Team
posted 17 hr ago
Yuga Labs, the powerhouse behind Bored Ape Yacht Club and ApeCoin, announced the acquisition of Tokenproof, a Web3 tokenization service, along with its technical team.
On December 3, 2024, Tokenproof founder and CEO Fonz O. announced that Yuga Labs had acquired the rights to Tokenproof's technical solutions and onboarded part of its team.
Since 2022, Tokenproof has been a frequent collaborator with Yuga Labs. According to Fonz O., Tokenproof played a key role in developing infrastructure for real-world NFT ownership verification.
The Tokenproof technical team is set to join The Workshop, Yuga Labs’ research and development division. This unit was established in August as part of a major restructuring effort that included layoffs.
As a result of these changes, Yuga Labs has shifted its focus to prioritizing the development of Otherside, a metaverse-integrated gaming project.
The community has welcomed this news, with many developers acknowledging Tokenproof’s notable contributions to creating real-world utilities for Bored Ape-themed NFTs.
This announcement could serve as a catalyst for renewed interest in NFTs. With ongoing corporate changes and new partnerships, NFT buyers might see this as an opportunity to invest in tokens from Yuga Labs or other leading collections.
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