Yuga Labs’ New Product Initiative

Yuga Labs co-founder and CEO Greg Solano, known as Garga, recently teased a new line of products from an internal team dubbed “The Workshop.” This development comes after Solano took on the CEO role from former Activision Blizzard executive Daniel Alegre in February. Following a company restructuring in April, several roles were cut to streamline operations.

In a memo to staff, Solano expressed concern that the company’s creative spirit had been diluted by complex corporate processes, stating, “We plan more than we ship.” He emphasized the need for a smaller, more agile team that focuses on quality over quantity.

The Workshop consists of 13 top engineers and product experts, focused on rapidly launching new products for the upcoming ApeChain network. Solano aims for the team to deliver innovative solutions swiftly and to phase out those that lack traction. He stated, “…make delightful shit, on-chain, fast.”

Yuga Labs recognizes the challenging climate for NFT projects and plans to discontinue products that don’t succeed: “When something doesn’t work, we’ll kill it. With love, but no mercy.”

The new products will be introduced on ApeChain, an Ethereum Layer 2 network expected to be powered by Arbitrum. ApeCoin will serve as its native token, and its governance will be managed by the ApeCoin DAO.

Currently, the price of ApeCoin has decreased by about 57% since last August, according to The Block’s ApeCoin Price Page.