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Latest news in gaming and NFTs. Yuga Labs' restructuring, Sorare's Referral Program, Ember Sword playtest, and The Sandbox's VoxEdit Contest.
In the world of NFTs and blockchain technology, this news article delves into the latest developments in the digital collectibles market, featuring key players and their strategic responses to market shifts. Yuga Labs, the creator of the renowned Bored Ape Yacht Club NFT collection, announces a significant restructuring amidst changing dynamics. We explore the motivations behind this move and their strategic focus on the Otherside metaverse game. Sorare, a fantasy sports platform, revamps its Referral Program to offer greater flexibility and rewards. Additionally, Ember Sword unveils its upcoming open playtest, "The Ultra Deep," offering an immersive dungeon-crawling experience. The article also highlights The Sandbox's Autumn Vibes VoxEdit Contest, showcasing the latest trends in the creative NFT space.
Yuga Labs' Restructuring Amidst NFT Market Changes
Yuga Labs, the company behind the popular Bored Ape Yacht Club NFT collection, has announced a significant restructuring in response to changing dynamics in the NFT market. The company, currently valued at $4 billion, will be implementing layoffs among its U.S.-based employees as part of this revamp, though specific details about the extent of these layoffs remain undisclosed. The status of Yuga Labs' international teams is still under evaluation and has not been affected as of now.
The decision to restructure follows an internal operations review led by CEO Daniel Alegre. While co-founder Greg Solano expressed regret over the layoffs, both Alegre and Solano stressed the necessity of these changes to ensure the company's continued relevance and viability, especially considering Yuga's rapid growth.
Alegre emphasized the importance of more focused execution, citing the success of projects like the Dookey Dash game and generative art from Bitcoin Ordinals. However, he also acknowledged gaps in the Web3 gaming space that need improvement.
Yuga Labs appears to be strategically focusing on its upcoming metaverse game called Otherside. The company has recently invested in the spatial computing startup Hadean and engaged in collaborations with technology and creative partners, demonstrating its commitment to the development of Otherside. Alegre has further pledged to integrate all ongoing digital projects, such as Meebits and the 10KTF digital apparel, into the Otherside metaverse platform.
While specific details about Otherside's development are currently limited, Alegre has promised more updates in the near future. He also openly addressed the broader challenges facing the cryptocurrency industry and the global economy.
Yuga Labs gained widespread recognition with the launch of the Bored Ape Yacht Club collection in early 2021. Despite its initial success, recent shifts in NFT trends and the declining prices of BAYC and ApeCoin have prompted the company to reassess its strategy to maintain viability.
As the restructuring process unfolds, the crypto and wider tech communities will closely watch Yuga Labs. The company's ability to navigate these changing dynamics effectively will be critical to its long-term success in the evolving NFT landscape.
Sorare's Revamped Referral Program: Referral Credits and Milestone Rewards
Fantasy sports platform Sorare has announced significant changes to its Referral Program, set to take effect in mid-October. The primary adjustment involves replacing digital player cards as rewards with a new system called Referral Credits, a move driven by community feedback.
Under the revamped program, Referral Credits will serve as rewards for participants. These credits can be used like coupons to purchase digital player cards, providing greater flexibility in how fantasy managers can utilize their rewards.
Before the mid-October launch, referrers will earn Referral Credits when individuals they've invited to Sorare purchase a starter pack or acquire five new cards within 30 days of signing up. This will grant referrers a 50% discount on Primary Market purchases of up to €20/£20/$20 in total credits. Notably, these credits will expire if unused within 7 days, and the cards purchased using credits cannot be resold for 14 days. Referees, on the other hand, will receive a Limited Card as part of the incentive.
After the official launch of the new program in mid-October, both referrers and referees will continue to receive a 50% discount on Primary Market purchases, as was the case before the launch. The same credit limits of €20/£20/$20 apply, with the same expiration rules for credits and card resale restrictions.
One key feature of the Referral Credits system is the ability to accumulate credits by referring multiple players who meet the necessary requirements. For example, if a user successfully refers two new players in a single day, they can enjoy a 50% discount on Primary Market purchases of up to €40/£40/$40.
Despite these changes, Sorare's Referral Program milestones will remain consistent. Users who achieve specific referral milestones will continue to receive limited cards as rewards, such as Tier 2 Limited Cards for 3 valid referrals, Tier 4 Rare Cards for 5 valid referrals, Tier 3 Rare Cards for 10 eligible referrals, Tier 4 Super Rare Cards for 15 valid referrals, and the coveted Tier 4 Unique Card for 30 successful referrals. These milestones offer additional incentives for users to actively participate in Sorare's referral program.
Ember Sword's 'The Ultra Deep' Playtest Details
Bright Star Studios, the team behind Ember Sword, has unveiled their latest open playtest, "The Ultra Deep," set to commence on October 27th at 11 AM UTC and conclude on October 29th at 10 PM UTC. This playtest offers a more streamlined and compact experience compared to the earlier alpha playtest in April.
"The Ultra Deep" unfolds within an intricate network of subterranean caverns located deep beneath Burkhalter's Academy's engineering department in Solarwood. This subterranean realm has been affected by a massive explosion caused by secretive scientists conducting experiments in a sprawling underground laboratory. Consequently, players can anticipate engaging in dungeon crawling gameplay, banding together with others to confront a variety of subterranean monsters, while exploring areas replete with steam-powered machinery and massive cauldrons of molten steel, all while attempting to uncover the hidden mysteries beneath.
A noteworthy feature of this playtest is the freedom to experiment with various playstyles by choosing from a range of equipment at the outset of your journey. Unlike the previous open playtest, which offered a more open-world experience, this iteration is designed to scrutinize specific game elements, rendering it a more focused experience.
To ensure a stable and seamless gaming experience worldwide, the development team is introducing regional servers, thereby facilitating a broader player base to partake in this early game version and offer valuable feedback. Moreover, leaderboards will be implemented to recognize the quickest groups to complete the playtest, with these leaderboards categorized by region.
Accessing "The Ultra Deep" playtest is straightforward; prospective players need only possess an Ember Sword account, which can be obtained by registering on the official game website. Registrants will receive pertinent information in advance, enabling them to participate in this new alpha playtest. It is essential to keep in mind that this remains an alpha version of the browser-based MMORPG, implying that everything is subject to potential changes. Thus, players are encouraged to provide their feedback and suggestions to assist the development team in creating a successful, free-to-play gaming experience.
The Sandbox's Autumn-Themed VoxEdit Contest: Prizes and Participation Details
The Sandbox, a popular virtual world platform, has announced the launch of the Autumn Vibes VoxEdit Contest, providing an opportunity for creators to design seasonal-inspired digital assets. This contest offers participants a chance to earn SAND tokens, the native cryptocurrency of The Sandbox. The competition comprises two categories: the Regular Category, with a prize pool of 15,000 SAND tokens, and the Beginner Category, featuring a reward pool of 5,000 SAND tokens.
The contest, which began on October 4, 2023, will run until October 22, 2023, at 11:59 PM UTC, with the winners to be revealed on November 18, 2023. Participants are required to create a fully animated GIF of their autumn-themed asset and share it on Twitter, tagging @VoxEdit and @TheSandboxGame, and including the hashtag #VoxEditWeekly. Additionally, entrants must complete a Google Form provided in the official announcement.
As for the prizes, the Regular Category offers a total prize pool of 15,000 SAND tokens. The first-place winner will receive 6,000 SAND tokens, while participants ranked from 4th to 10th will each be awarded 500 SAND tokens. In the Beginner Category, the prize pool is set at 5,000 SAND tokens, with the top-ranking participant earning 1,500 SAND tokens, and those securing positions 4th to 10th receiving 250 SAND tokens. Notably, prizes are distributed on the Polygon network.
It's worth noting that to rank among the top 5 in either category, participants must undergo Know Your Customer (KYC) verification or hold verified creator status. Verified creator status is achieved by participating in at least five contests and earning a top-10 placement in one of them. Alternatively, a verified creator may also be someone with a studio linked to a Game Maker Fund (GMF) account. This requirement ensures a level of authenticity and commitment within the contest.
In summary, The Sandbox has initiated the Autumn Vibes VoxEdit Contest, encouraging creators to craft autumn-themed digital assets and offering attractive rewards in the form of SAND tokens. This contest provides opportunities for both seasoned creators and beginners, with specific guidelines for participation and eligibility criteria. The Sandbox continues to foster a vibrant creative community within its virtual world platform.
FAQ: Yuga Labs' Restructuring, Sorare's Referral Program, Ember Sword Playtest, and The Sandbox's VoxEdit Contest
Yuga Labs' Restructuring
1. Who is Yuga Labs, and what is their notable creation?
Yuga Labs is the company behind the Bored Ape Yacht Club (BAYC) NFT collection, a popular digital collectibles project.
2. Why is Yuga Labs undergoing restructuring?
Yuga Labs is restructuring in response to changing dynamics in the NFT market and a reassessment of their strategy due to declining prices of BAYC NFTs and ApeCoin.
3. What is the current valuation of Yuga Labs?
Yuga Labs is currently valued at $4 billion.
4. Who led the internal operations review at Yuga Labs?
CEO Daniel Alegre led the internal operations review at Yuga Labs.
5. What strategic focus is Yuga Labs emphasizing?
Yuga Labs is strategically focusing on its upcoming metaverse game called Otherside.
6. What other digital projects is Yuga Labs planning to integrate into the Otherside metaverse platform?
Yuga Labs plans to integrate ongoing digital projects like Meebits and the 10KTF digital apparel into the Otherside metaverse platform.
7. How did Yuga Labs gain recognition initially?
Yuga Labs gained recognition with the launch of the Bored Ape Yacht Club collection in early 2021.
Sorare's Referral Program
8. What changes are being made to Sorare's Referral Program?
Sorare is replacing digital player cards as rewards with a new system called Referral Credits.
9. How do referrers earn Referral Credits?
Referrers earn Referral Credits when individuals they've invited to Sorare purchase a starter pack or acquire five new cards within 30 days of signing up.
10. What discount do referrers receive on Primary Market purchases using Referral Credits?
Referrers receive a 50% discount on Primary Market purchases of up to €20/£20/$20 in total credits.
11. What happens to Referral Credits if they are unused?
Referral Credits expire if unused within 7 days.
12. Can cards purchased with Referral Credits be resold immediately?
No, cards purchased using credits cannot be resold for 14 days.
13. What rewards do referees receive?
Referees receive a Limited Card as part of the incentive.
Ember Sword's Playtest
14. What is the name of Ember Sword's latest playtest, and when does it take place?
Ember Sword's latest playtest is called "The Ultra Deep," and it is set to commence on October 27th at 11 AM UTC and conclude on October 29th at 10 PM UTC.
15. What is the setting of "The Ultra Deep" playtest?
"The Ultra Deep" takes place in subterranean caverns beneath Burkhalter's Academy's engineering department in Solarwood.
16. What kind of gameplay can players expect in "The Ultra Deep" playtest?
Players can anticipate engaging in dungeon crawling gameplay, battling subterranean monsters, and exploring areas with steam-powered machinery and molten steel cauldrons.
17. How is "The Ultra Deep" different from previous playtests?
Unlike previous open playtests, "The Ultra Deep" offers a more streamlined and focused experience.
18. What is the purpose of introducing regional servers in Ember Sword?
Regional servers are introduced to ensure a stable and seamless gaming experience for a broader player base during the playtest.
The Sandbox's VoxEdit Contest
19. What is The Sandbox, and what is its virtual world platform?
The Sandbox is a virtual world platform that allows users to create, own, and monetize their gaming experiences and assets.
20. What is the Autumn Vibes VoxEdit Contest?
The Autumn Vibes VoxEdit Contest is a creative competition where participants design seasonal-inspired digital assets for The Sandbox platform.
21. What are the categories in the VoxEdit Contest, and what are the prize pools?
The contest has Regular and Beginner categories with prize pools of 15,000 and 5,000 SAND tokens, respectively.
22. How long does the VoxEdit Contest run, and when will the winners be announced?
The contest runs from October 4, 2023, to October 22, 2023, with winners to be revealed on November 18, 2023.
23. How can participants enter the VoxEdit Contest, and what are the requirements?
Participants must create fully animated GIFs of their autumn-themed assets, share them on Twitter with specific tags and hashtags, and complete a Google Form provided in the official announcement.
24. What are the prizes for the VoxEdit Contest, and how are they distributed?
Prizes range from 250 to 6,000 SAND tokens, with distribution on the Polygon network.
25. What is the significance of Know Your Customer (KYC) verification or verified creator status in the VoxEdit Contest?
To rank among the top 5 in either category, participants must undergo KYC verification or hold verified creator status, ensuring authenticity and commitment within the contest.
Play To Earn Gaming News 2023-2024
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Related Tags:
Yuga Labs, NFT market, Bored Ape Yacht Club, Daniel Alegre, Greg Solano, Otherside metaverse, Dookey Dash, Bitcoin Ordinals, Web3 gaming, ApeCoin, Sorare, Referral Program, Ember Sword, "The Ultra Deep," Bright Star Studios, The Sandbox, VoxEdit Contest, digital collectibles, blockchain, metaverse, fantasy sports, NFT trends, virtual world platform, creative NFTs, sandbox gaming,
News Article Description:
Gamers should keep a close eye on the evolving landscape of digital collectibles and NFTs as major players like Yuga Labs adapt to market shifts. Yuga Labs, known for the Bored Ape Yacht Club NFT collection, is undergoing restructuring to remain relevant in the face of declining NFT prices and changing trends. Their focus on the upcoming Otherside metaverse game and strategic integration of digital projects hints at their future direction. Sorare's Referral Program revamp introduces Referral Credits, offering more flexibility and rewards for participants. Ember Sword's "The Ultra Deep" playtest promises an immersive dungeon-crawling experience, while The Sandbox's VoxEdit Contest presents creative opportunities in the virtual world. Gamers should stay informed about these developments in the NFT and gaming industry to make the most of emerging opportunities.
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