Yuga Labs, the developer of Bored Ape Yacht Club (BAYC) NFT collection, is reportedly looking to generate $455 million in revenue in 2022 by selling virtual land in its future metaverse, The Block has reported.
The net revenue of the project amounted to $127 million last year. Notably, the sales of the project’s collection tokens exceeded $1 billion, including the secondary market.
Now, the company wants to diversity its income, and to do so it has decided to launch a game token and a metaverse. According to Yuga Labs:
“We want to create something that expands the BAYC universe and also invites the broader NFT community to participate.”
Yuga Labs will create a universe in which the APECoin token will become an important component because it will be used to make purchases in the Yuga app store.