NFT: Yuga Labs presents the members of its new community council

Yuga Labs, the company behind the hottest NFT collections in the Web3 ecosystem, is launching its first community board. Yes, but for what purpose? How does the BAYC community view this news? Here are some answers.

The Yuga Labs Community Council, an aggregator of ideas

Yuga Labs has not finished imposing itself on the now highly competitive NFT market. After its Bored Ape Yacht Club (BAYC) gained popularity, the company knew how to play on image and exclusivity to stand out. Holding a BAYC allows its owner to express his identity, but also to be part of a very select “club”.

In addition, Yuga Labs has granted NFT owners commercial rights to the intellectual property (PI). In short, good ideas, the BAYC creators are not lacking, like this newly created community board. This already represents the entire community, but not only. One of the board members (0xWave) explains that the assembly will also and above all act as an aggregator of ideas.

Support Web3 initiatives within the community

As an aggregator of ideas, the board will, according to Yuga Labs, develop a process to gather feedback and suggestions from the community on an ongoing basis. The idea would be to be able to develop the brand according to user expectations. The board brings the ideas and Yuga Labs will fund the best projects. Concretely, the council will nominate three community projects each month. The BAYC and MAYC communities will then vote on which project receives a grant, the company explains.

Yuga Labs introduces the first BAYC Community Board.

In sum, the Yuga Labs Community Council will support Web3 initiatives within the community. Members will participate in business projects, meetings, philanthropy, etc., among other things. Yuga Labs explains: “To help the community grow and prosper, we have assembled a new community council […] formed with the intention of representing the club as a whole and paving the way for new perspectives”.

Council members

Yuga Labs appointed seven monkeys to form this first community council, each with “proven experience” in NFT. Here are the said council members. Josh Ong, who co-founded Bored Room Ventures, a Web3 marketing agency and fund. Will be one of the first to adopt the Yacht Club. There’s also Laura Rod, who hosts social media sessions/interviews to educate, inspire and empower underrepresented groups on the Web3.

0xEthan, the fourth member, began his web3 journey in March 2021 when he joined the Decentral Games team as a community manager. 0xWave, another member, is also an early adopter of BAYC. The sixth board member, Negi, is an aspiring photographer always trying to slip pictures onto the walls of the BAYC Clubhouse. Finally, there is Peter Fang. He helped organize one of the first BAYC meetings in Venice and California in July 2021.

While some members of the community applaud Yuga Labs’ initiative, others are rather skeptical of this community council. They particularly deplore the fact that the leaders of the society chose board members personally instead of voting among BAYC/MAYC holders. What were the selection criteria? No one knows. In any case, the opinions of the community are mixed.

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