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HomeCryptoNftYuga Labs acquires tokenproof to drive NFT innovation

Yuga Labs acquires tokenproof to drive NFT innovation

Yuga Labs has acquired web3 tokenization supplier tokenproof. By way of the mixing, the blockchain hopes to drive crypto and NFT adoption.

In a current X put up on Dec. 3, tokenproof founder and CEO, Fonz O, introduced the web3 tokenization serviceโ€™s integration into Yuga Labs. He acknowledged that a part of the tokenproof staff will be a part of Yuga Labsโ€™ analysis and improvement division, The Workshop.

โ€œDue to our years of partnership, this transition will likely be seamless. Iโ€™m assured this can be a improbable end result for everybody, and Iโ€™m excited to see our staff succeed at Yuga Labs,โ€ mentioned Fonz O in his put up.

The tokenproof founder highlighted that Yuga Labs and tokenproof have had a protracted historical past of collaborating โ€œtime and time once moreโ€ since 2022. Fonz O even went so far as to quote Yuga Labsโ€™ annual occasion ApeFest as what impressed him and โ€œsoar beganโ€ the concept to construct an infrastructure to confirm non-fungible token possession in the actual world within the first place.

Though he himself is not going to be becoming a member of the staff in Yuga Labs, he vowed to remain within the crypto and NFT area even after heโ€™s not often known as the โ€œtokenproof man.โ€

โ€œWhereas I canโ€™t be transitioning to Yuga Labs, Iโ€™m not leaving this area. Iโ€™ve an unwavering dedication to web3, and Iโ€™m wanting ahead to persevering with to hang around and attending ApeFest as an ape once more,โ€ he wrote.

Thrilling information! I am happy to announce that Yuga Labs has acquired tokenproofโ€™s know-how, and a part of our gifted staff has transitioned to Yuga Labs.

After we began tokenproof, our mission was to offer a safe method for crypto customers to unlock utility of their tokens,โ€ฆ

โ€” Fonz แตแต๐ŸŒ (@FonzGm) December 2, 2024

You may additionally like: CryptoPunks resurrection failed: neighborhood accuses Yuga Labs of killing fashionable NFT assortment

Responding to a consumer who requested him in regards to the value of the acquisition, Fonz O jokingly replied that the worth of Yuga Labsโ€™ tokenproof acquisition was someplace between โ€œsubway footlong and Elon Muskโ€™s web price.โ€

Yuga Labs co-founder and CEO Greg Solano acknowledged that the blockchain has loved collaborating with the tokenproof staff all through the years and the mixing between the 2 firms will result in โ€œa bunch of thrilling stuff to make crypto and NFTs extra accessible.โ€

โ€œAlong with tokenproof, we tackled a bunch of thorny issues, in order that your monkey jpeg may safely and effectively get you right into a pageant internationally,โ€ mentioned Solano in his put up.

Moreover, he revealed that the tokenproof staff will likely be becoming a member of Yuga Labsโ€™ R&D division, often known as The Workshop following the acquisition.

In April 2024, the corporate behind fashionable NFT collections together with Bored Ape Yacht Membership and CryptoPunks, introduced a sequence of layoffs as a part of its restructuring efforts.

Learn extra: Yuga Labs CEO publicizes layoffs, specializing in โ€˜getting again to rootsโ€™

Yuga Labs acquires tokenproof to drive NFT innovation

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