Yuga Labs is responsible for 35% of the total NFT trading volume

Yuga Labs has established itself as a true powerhouse in the world of non-fungible tokens (NFTs) in recent years. In April 2021, Yuga Labs launched the Bored Ape Yacht Club (BAYC) collection that has grown into one of the most successful NFT projects in a few months. The floor price of 10,000 Ethereum (ETH) based monkeys surged to a high of around 152 ETH during the 2021 NFT craze.

However, Yuga Labs’ empire is much bigger and also consists of the Mutant Ape Yacht Club (MAYC), its own metaverse called ‘The Otherside’ and its own crypto ‘ApeCoin (APE)’. Yuga Labs also acquired the popular CryptoPunks and Meebits collection from original creator Larva Labs in March 2022.

Yuga Labs dominates NFT market

A new report from DappRadar shows that Yuga Labs accounted for nearly 35% of total NFT trading volume over the past two quarters.

Yuga Labs’ projects collectively generated more than $2 billion in trading volume between October and March. This amounts to 34.6% of the total market volume in that period.

The BAYC leads the NFT market with a floor price of 51.45 ETH, or approximately $99,000, followed by CryptoPunks at 49.49 ETH ($95,150). During the peak of the NFT craze in 2021, you had to put down a minimum of $429,000 to own a Bored Ape.

According to the report, BAYC has generated $504 million in NFT sales over the past two quarters. The Mutant Apes nearly matched that number, totaling $483 million. The Otherdeed NFTs, which give owners the right to claim land in their own metaverse, generated more than $322 million in transactions.

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Bitcoin NFTs from Yuga Labs

Recently you could read in the NFT news that Yuga Labs had launched its first Bitcoin (BTC) NFT collection, called TwelveFold. Since the launch of the Ordinals protocol in January, plenty of data has been carried on individual satoshis, the smallest unit of bitcoin.

The Yuga Labs auction raised a whopping $16.5 million in total, but was also criticized for being “a scammer’s dream” for how the auction was set up.

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