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According to Yuga Labs Co-Founder, the leaked pitch deck is out of date

15 Mar 2022 : 21:28
2 min read
  • A pitch deck was leaked revealing details of Yuga Labs' plans
  • Yuga Labs co-founder says leaked pitch deck does not reflect startup's current plans
  • The pitch deck confirms that Yuga Labs intends to raise money from investors

The Block, a cryptocurrency news website, recently published the details of a leaked pitch deck from the company behind The Bored Ape Yacht Club, but according to the co-founder of Yuga Labs, the leaked pitch deck does not reflect the startup’s current plans.

The leaked pitch deck is no longer up to date

According to The Block, the pitch deck was last updated in February and distributed to investors as part of ongoing fundraising efforts. It revealed many of Yuga Labs’ plans for its famed Bored Ape Yacht Club NFT collection, including its intention to build a gaming-focused metaverse called MetaRPG, a sale of 200,000 digital land worth $178 million, and the highly anticipated cryptocurrency “APECoin” were also mentioned.

In response to the article, Yuga Labs co-founder CryptoGarga stated on Discord that it was an old and outdated pitch deck, but also that he and the other co-founder GordonGoner had never seen the entire pitch deck themselves. According to him, much of the information contained in it has already been changed, and it is likely that more will change due to the leak, as he explained, “Fuck doing expected things.” It’s unclear which parts of the pitch deck will remain intact, as the founders seem to want to keep their company’s roadmap a secret.

Yuga Labs is in talks for funding

Although the pitch deck is outdated, it clearly shows that Yuga Labs intends to raise money from investors, as the Financial Times reported in February when it claimed the company was in talks with Andreessen Horowitz. The pitch deck also revealed some interesting revenue figures for BAYC, stating that the company generated $127 million in net revenue last year and is expected to reach $455 million by 2022.

Another important event was Yuga Labs’ recent announcement that it has acquired the intellectual property rights to CryptoPunks and Meebits, two valuable NFT collections, from Larva Labs. Some see this as a major power shift demonstrating the growth of the NFT space, while others see it as a step towards further centralization of the space.

About Author

Stan Colenbrander

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Stan is the head of news and podcast host at Cryptonary. He was formerly a member of the Cryptonary Pro community. In early 2021, he decided to drop out of journalism school at university to pursue journalism in real life and make an impact in the crypto space. . His areas of interest include the NFT industry, decentralised finance, and crypto start-ups.

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