<img src="https://crypto.news/app/uploads/2024/10/crypto-news-ai–nfts-option03.webp” />
Yuga Labs has acquired web3 tokenization provider tokenproof. Through integration, blockchain hopes to drive the adoption of cryptocurrencies and nfts.
In a recent <a target="_blank" rel="nofollow" href="https://x.com/FonzGm/status/1863665269975159276″ target=”_blank”>x publication On December 3, tokenproof founder and CEO Fonz O announced the integration of the web3 tokenization service into Yuga Labs. He stated that part of the tokenproof team will join Yuga Labs' research and development division, The Workshop .
“Thanks to our years of partnership, this transition will be seamless. “I’m sure this is a fantastic result for everyone and I’m excited to see our team succeed at Yuga Labs,” Fonz O said in his post.
The tokenproof founder highlighted that Yuga Labs and tokenproof have had a long history of collaborating “over and over again” since 2022. Fonz O even went so far as to cite Yuga Labs' annual event, ApeFest, as what inspired and “driven” him First, the idea of building an infrastructure to verify ownership of non-fungible tokens in the real world.
Although he himself will not be joining the Yuga Labs team, he has vowed to stay in the crypto and nft space even after he is no longer known as the “token-proof guy.”
“While I will not be transitioning to Yuga Labs, I will not be leaving this space. “I have an unwavering commitment to web3 and I look forward to continuing to hang out and attend ApeFest like an ape again,” he wrote.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter“>
In response to a user who asked him about the price of the acquisition, Fonz O jokingly responded that the value of the Yuga Labs token-proof acquisition was somewhere between “a meter long and Elon Musk's net worth.” “.
Greg Solano, co-founder and CEO of Yuga Labs <a target="_blank" rel="nofollow" href="https://x.com/CryptoGarga/status/1863670000978219175″ target=”_blank”>fixed that blockchain has enjoyed collaborating with the tokenproof team over the years and that the integration between the two companies will generate “a lot of interesting things to make cryptocurrencies and nfts more accessible.”
“Together with tokenproof, we tackled a number of thorny problems so that your monkey jpeg could safely and efficiently get you to a festival around the world,” Solano said in his <a target="_blank" rel="nofollow" href="https://x.com/CryptoGarga/status/1863670000978219175″ target=”_blank”>mail.
Additionally, he revealed that the token-proof team will join Yuga Labs' R&D division, known as The Workshop following the acquisition.
In April 2024, the company behind popular nft collections including Bored Ape Yacht Club and CryptoPunks announced a series of layoffs as part of its restructuring efforts.
<script async src="//platform.twitter.com/widgets.js” charset=”utf-8″>
