As the NFT ecosystem continues to falter, superfans and blue chip holders remain strong. But how can the digital asset industry rekindle growth and attract new audiences? According to the NonFungible market tracker, the number of NFT sales is down nearly 90% from the same period last year.
But the hype is still growing on platforms like Reddit, where millions of crypto wallets have been created to mint NFTs, or on layer-one blockchains like Cardano, which have created all-time highs in NFT transaction volume.
NFTs are one of the most talked about topics in crypto, which is why we were delighted to have Yuga Labs CEO Nicole Muniz on stage at TC Sessions: Crypto on November 17th in Miami.
Earlier this year, Yuga Labs raised $450 million in a funding round led by Andreessen Horowitz at a valuation of $4 billion. The Miami-based NFT startup is the company behind the Bored Ape Yacht Club and Mutant Ape Yacht Club, and has acquired other popular NFT projects like CryptoPunks and Meebits.
Yuga was also a contributor to the launch of ApeCoin, a project inspired by its BAYC series. The token gained billions of dollars in market cap on its first day of trading and is currently around $1.4 billion. As TechCrunch previously reported, the company wanted to build something that would "expand the Boring Ape Yacht Club," but at the same time "invite the larger NFT community."
Having said that, there was a lot to talk about with Muniz, from the fine-tuning details of Yuga Labs to her thoughts on the broader NFT ecosystem and its current state. We want to hear her thoughts on the challenges and opportunities of the NFT market, as well as the areas she sees as the most promising in terms of expanding the ecosystem.
Before joining Yuga Labs, Muniz founded an agency called Something New that worked with major brands like Nike, Google, EA, and Square.
TC Sessions: Crypto will be held in Miami on November 17th. Save $150 with the early bird price and buy a pass now, then join the web3, DeFi, and NFT communities to keep up with the ever-evolving and always exciting world of crypto.