Yuga Labs CEO: Dis Crypto Cycle Different, Otherside Don Fund
Yuga Labs CEO Greg “Garga” Solano tok say crypto cycle wey dey now no be like before ones. E say na institution dem dey use on-chain through ETFs and treasury companies, but consumer crypto still quiet. E talk say North America institution dem dey move on-chain and Zoomers dey drive memecoin activity. Dis one different from the 93% drop wey blockchain gaming funding get year-year and user engagement dey go down. Solano yan say Yuga Labs get enough money to take fund their big Otherside metaverse game development for at least two to three years without to touch their crypto assets. E also talk say the project get collector-focused audience and e mix social and gaming elements, and the team dey send updates faster than ever.
Neutral
Yuga Labs don announce say dem go provide multi-year funding for Otherside, e reduce execution risk and e support long-term confidence for metaverse projects, wey fit help make interest for NFTs steady. But the bigger blockchain gaming sektor dey face big slash for funding and user activity, wey dey limit immediate better gain for gaming tokens. The news na more reassurance, no be spark for rally, mean say market impact neutral. Historically, strong developer backing dey steady sentiment over time but e no dey cause short-term price spikes if the whole sektor metrics still dey weak.