Yuga Labs is cutting staff as part of a larger restructuring. Yuga Labs, the company behind Bored Ape Yacht Club, has laid off some of its staff according to a blog post published by the company on October 6.

The company's CEO, Daniel Alegre, wrote:

“After… careful consideration, I have decided that we need to restructure the Yuga Labs team. The implication of this change is that a number of roles have been eliminated across the company, impacting some of your colleagues.”

Alegre attributed the need for a change in strategy to disappointing launches in certain areas, particularly in the company's gaming initiatives. Alegre revealed that as part of the restructuring, Yuga Labs will delegate certain activities to external third party companies. Meanwhile, Yuga Labs' internal development team will focus on efforts on web3 and Otherside — the company's metaverse platform.

Allegre said elsewhere in the letter that the company will implement “[its] Otherside strategy across the board.” He noted that Otherside will launch a new gaming experience in 2024 and will form a long-term partnership to complement Yuga Labs' own efforts.

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Alegre also commented on the status of certain well-known products. He said that the Bored Ape Yacht Club will expand a program called “Made by Apes,” which acts as a licensing model and community showcase for fan creations. Additionally, Alegre hinted at the launch of a gaming experience tied to the Bored Ape product line, scheduled for 2024.