'ALL IN': As Yuga Labs Restructures, The Company's CEO Reiterated Their Commitment To Otherside!

On Friday, Yuga Labs’ Chief Executive Officer, Daniel Alegre, announced that Yuga Labs was restructuring and reiterated their commitment to Otherisde, sharing new details on what’s to come.

As the Bored Ape Gazette previously reported, Yuga Labs shared an email from Alegre to employees on social media. In the email, Alegre explained that he and the leadership believed the company has spread itself too thin and needs to restructure around its core competencies, which includes Otherside.

“We are going all-in on our Otherside strategy,” Alegre said. “Every ongoing digital connection will be part of and reinforce the Otherside evolution. This encompasses gaming, entertainment experiences, interactive social connections, and a range of unique initiatives coming from Eric Reid and team.”

As part of Yuga Labs’ refocusing on Otherside, the teams that oversee the Meebits and 10KTF project will be joining the Otherside team and Yuga Labs will be launching gaming experiences on its metaverse platform, with the help of third-party partners like the platform technology company AccelByte; the gaming studio, Bad Rhino Studios; the gaming studio publisher Faraway; and the spatial technology company, Hadean .

“The Otherside team will build out new gaming experiences into 2024 through third-party partnerships,” Alegre wrote. “2024 will be the year we will showcase the Otherside platform with live experiences that our communities and partners will love. We are aware that we haven't been building in public as often as we had wanted, and to address that, we're going to start providing regular development updates in the coming weeks.”

Alegre’s comments today echoed comments made by Yuga Labs’ Otherside General Manager, Eric Reid, last month.

As the Bored Ape Gazette previously reported, Reid made a post on September 25th and announced that Yuga Labs will be hosting an Otherside test event in Europe in October and said that there will be an Otherside experience during ApeFest 2023 this November.

The Bored Ape Gazette will continue to follow Otherside and will be bringing you more coverage of Yuga Labs’ restructuring. Stay tuned for updates!