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The Bored Ape Yacht Club (BAYC) has been making waves in the NFT space with its innovative play-to-earn (P2E) strategy. Yuga Labs, the company behind the brand, has been betting big on gamification and the Summoning, the latest phase of the Yuga’s interactive NFT mint mechanic, is the culmination of months of development.
The Summoning is a process that allows Sewer Pass holders to exchange their tokens for a Power Source, which is needed to advance to the next stage of the mint and reveal a new set of NFTs. Thousands of Sewer Pass holders are eagerly awaiting the chance to burn their tokens and participate in The Summoning.
How did Yuga Labs pull off this feat? The answer lies in their P2E strategy. In fall of 2022, Yuga Labs hired Spencer Tucker as its Chief Gaming Officer, followed by Daniel Alegre, former CEO of Activision Blizzard, as its new CEO. Both brought with them significant experience and knowledge of the gaming industry, making it clear that Yuga Labs was serious about gamification.
The success of Yuga’s gamification strategy was fully realized with Dookey Dash, an endless-runner style game that saw Sewer Pass holders competing for the ultimate prize: the Key. By the time Dookey Dash closed, Sewer Passes had generated $62 million in trading on the secondary market, proving that Yuga could pull off a gamified experience for its holders.
The Summoning is the latest stage of Yuga’s plan for BAYC’s development. Sewer Pass holders can transform their passes into a Power Source, which will be used in future minigames to reach the “Evo 2 stage and beyond.” The Power Sources are rumored to be a crucial part of a “mech type” of NFT, setting the stage for a science-fiction twist to the BAYC universe.
Not content to stop there, Yuga Labs has more plans in the works, including the reveal of holders’ “mech types” and the launch of the 2nd Trip, the sequel to the mass metaverse event that helped launch the Otherside MMORPG. BAYC holders and fans of Yuga Labs’ projects have a lot to look forward to in the coming months.
In conclusion, Yuga Labs’ innovative P2E strategy has taken the NFT space by storm. The Summoning is the latest example of their commitment to gamification and the development of the Bored Ape Yacht Club. With more exciting developments to come, it’s clear that Yuga Labs will continue pushing the limits of what’s possible in the NFT space.