Yuga Labs recently underwent a comprehensive restructuring to prioritize their metaverse project, “Otherside.” Led by CEO Daniel Alegre, the company is focused on adapting to the rapidly changing world of Non-Fungible Tokens (NFTs) and the Metaverse.
Yuga Labs co-founder Greg Solano initially disclosed the restructuring, indicating that changes were necessary to ensure the company’s future success. While the number of affected employees was not disclosed, with over 120 employees working on the defined priorities, the company continues to run.
Yuga Labs has offered a comprehensive relocation package to departing team members, which includes generous severance pay and health insurance under the Consolidated Omnibus Budget Reconciliation Act (COBRA). Daniel Alegre has re-iterated his commitment to treat those leaving the business with the respect, gratitude and appreciation they deserve.
This strategic shift within Yuga Labs not only reflects the challenges of the NFT industry but also aligns itself with the broader metaverse trends. As a leader in the industry, Otherside’s impact on the rapidly-evolving metaverse landscape is yet to be seen. The NFT and Blockchain community has shown a great deal of interest in this development.
