Yuga Labs, an NFT conglomerate, has made headlines with the recent success of their latest NFT collection. The company is well known in the NFT world and has released some of the most popular and valuable collections to date. His most recent success comes from a new NFT collection minted as part of the “Dookey Dash” web game.
Players of the game could mint a “Sewer Pass” NFT, which was originally needed to play Dookey Dash, and were invited to “The Summoning” to burn their passes in order to mint an NFT from the new collection titled HV-MTL , or Heavy Metal. The new collection features 30,000 NFTs resembling robotic cubes that will later reveal a “Mech” per OpenSea’s description of the collection.
The collection has skyrocketed on the secondary market since it crashed, with a current price floor of 2.3 ETH, around $4,000, and total trading volume has surpassed 6,050 ETH, equivalent to around $10.3 million. . With Yuga’s creator’s profit set at 5%, the project has already earned the company over $500,000.
Yuga Labs’ success is not new to the world of NFTs. The company has already created a number of successful NFT collections, including “Bored Ape Yacht Club” and “Mutant Ape Yacht Club.” These collections have been highly sought after by NFT collectors and have been known to sell for millions of dollars.
Yuga Labs has been successful for several reasons. First, the company has managed to build a loyal following of collectors who are willing to pay high prices for their NFTs. This has been achieved by creating high-quality and unique NFT collections that are highly sought after. Second, the company has managed to create a sense of community around its NFT collections, with members often collaborating and working together to create new and exciting projects.
However, the success of Yuga Labs has not been without controversy. The company has been accused of using inside information to benefit its own projects and has been accused of engaging in price manipulation. The controversy has led some investors to question the company’s ethics and has caused the value of some of its NFT collections to decline.
Despite the controversy, Yuga Labs is still a major player in the world of NFTs. The success of its latest collection, HV-MTL, is a testament to the company’s ability to create highly sought-after NFTs. What the future holds for Yuga Labs and the NFT market remains to be seen, but one thing is for sure, the company is here to stay.
