Behold BAYC holders – Yuga Labs will release metaverse land NFTs soon! At least that’s according to a leaked pitch deck obtained by The Block. Based on the document, Yuga Labs is projecting net revenue of $455 million this year, mainly through virtual land sales that will commence this month.
This month, you say? Yes, you’ve heard that right.
Yuga Labs Metaverse Land Sales is a Multi-Million Dollar Business
A total of 200k land plots will be launched in partnership with Animoca Brands. The sales will take place in March and August of 2022. To break it down further, Yuga Labs is expecting to raise $178 million from each round of sales. Coupled with revenue from secondary sales, the total amount will reach $455 million, tripling Yuga’s 2021 net revenue.
Based on the pitch deck, these land plots are essential parts of a metaRPG, virtual world developed by Yuga Labs. Each plot comes with its own unique attributes such as natural resources, artifacts, and even rare characters.
There will be 100k plots in the first Genesis drop. BAYC/MAYC community will get priority access to 30% of the plots, leaving the rest of 70k plots for public sale. Once done, the remaining 100k plots will be up for sale in August. So, how much a plot will cost? In the pitch deck, Yuga actually gave a “conservative” estimated price tag of 1 ETH per plot.
But wait, the pitch deck is outdated??
After the leak, Yuga Labs co-founder, Gargamel quickly stated that the pitch deck is out of date. He further stated that neither he nor Gordon Goner (another Yuga Labs co-founder) ever saw this version of the document.
Even so, Yuga Labs has had a busy start to the year. From recent announcements of acquiring IP rights to CryptoPunks and Meebits, to the launch of ApeCoin and its recent partnership with Animoca, something is definitely brewing in Yuga Labs. As Yuga remains secretive at the moment, we can only be patient and stay tuned for their next smashing updates.