Yuga Labs, the company behind “Board Apes”, presents the future of its NFT collections

Company leader Nicole Muniz spoke about the future of her NFT collections at the Web Summit in Lisbon.

Yuga Labs, one of the most secretive companies in the crypto universe, had the opportunity on Thursday to present on the stage of the Web Summit in Lisbon the future of its NFT collections, including the famous “Board of Apes”, without provoking, however. any real surprises.

Company leader Nicole Muniz, from the world of marketing, was eagerly awaited at this major technology conference in Europe to explain what her company can bring to the world.

It began by showing an animated short for the Bored Ape Yacht Club (or BAYC), a collection of 10,000 images of “bored monkeys,” each with a different expression and accessory.

Collectors of digital assets, including celebrities like Justin Bieber, Madonna and Gwyneth Paltrow, have spent millions of dollars to own these images, which come in the form of digital tokens called NFTs.

Trades that have fallen

Despite declining public interest in NFTs, whose trading volumes fell 97% between January and September, according to Dune Analytics, unicorn Yuga Labs maintains a valuation of over $4 billion, and one of its monkeys recently changed hands for nearly $450,000.

“We need to think about how we can help 100 million more people on the web3,” a term meant to mean the revolution in internet use thanks to cryptocurrencies, Nicole Muniz said.

One of the two co-founders of Yuga Labs, Greg Solano, was also scheduled to appear at the conference, but canceled at the last minute.

“Hello Lisbon Monkeys, I’m not feeling well at all and have to give up my Web Summit panel today,” he tweeted under his alias Garga.eth.

“Potentially Fraudulent”

“I’m glad I was able to meet so many of you last night,” he added, referring to the very real gatherings organized by fans in several cities, including Lisbon, on Wednesday evening.

It’s this sense of being part of a real-life “community” that would have made the club a success, according to Nicole Muniz.

“I was talking to a monkey last night and they were discussing their participation in ApeFest,” a festival held in June in New York, she said on stage. The promises of Nicole Muniz’s project, however, resemble those of almost all other NFT projects.

Beyond the sense of community, the leader mentioned an upcoming multiplayer video game using blockchain and envisioned a digital universe where NFTs would somehow become an access key to a magical world.

“You can take them anywhere you want, you can build from them and monetize them,” she said, saying BAYC was unique in offering NFT owners their own “monkey.”

A recent report by specialist site Galaxy.com, however, described the BAYC license agreement as “vague and potentially misleading” and found that it conferred no real legal rights. Finally she stated that she wanted to facilitate the understanding of web 3 and access to this universe. But even the title of the conference (“NFTs, Metaverses and the Road to a Web Disney 3”) remained unclear…

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