FRENS AGAIN: Yuga Labs CEO Michael Figge And CoinDesk President Jay Yarow Discuss NFT Coverage And Reach An Understanding!

Apes and CoinDesk are frens again after Yuga Labs’ new CEO, Michael Figge, hopped on a call with the media outlet’s president to discuss how they cover the NFT space.

Two days after Figge declared war on crypto’s biggest news outlet, alleging years of pay for play style  journalism with glowing coverage for supporters, and “ragebait headlines that shit on the same industry,” he announced that the two sides talked it out and reached an understanding.

“The president of  @CoinDesk ,  Jay Yarow just gave me a call and we talked through the issues to reiterate my points,” Figge tweeted. “1. the press should hold this space accountable and criticism can be healthy 2. good media costs money and i'm not out to villainize paid partnerships 3. my MAIN GRIPE is the drumbeat of cynical, dismissive, rage-bait coverage of our industry poisons the information layer for retail readers who can’t tell the difference between paid placement and editorial conviction.”

 

Yarow assured Figge that fair reporting is CoinDesk’s top priority and Figge told Yarow that he will make himself available for comment on anything CoinDesk reporters need in the future.

“Going forward I hope all press takes into consideration that this industry goes through jubilant and brutal cycles and that we cover the good and the bad,” Figge wrote. “Otherwise we scare off anyone curious about what we're doing here and the space will struggle to grow. that is all for now. thanks to the community, to jay, and for everyone else who gave their attention to this matter. bored ape yacht club.”

 

Following Figge’s post, CoinDesk replied with a handshake GIF, Yarow quote tweeted it with a handshake and heart emoji, and NFT collectors across the space thanked Figge for speaking up.

“One of the reasons i hold yuga nfts is because they are true leaders in the space.,” BAYC member and NFTEAShow Founder Nash tweeted. “They don’t think about what’s good for yuga alone, but the industry as a whole. whether that’s defending creator royalties, protecting IP rights or supporting other nft projects. the founders were true trailblazers and that continues with figge today. bored ape yacht club.”

 

The Gazette will continue to follow Figge and CoinDesk and will keep you posted on their coverage of the NFT space. Stay tuned for updates!