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Nifty News: Yuga cuts staff, NFT trading volume on Mythos Chain surges and more

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Yuga Labs CEO Daniel Alegre said the firm was stretching itself thin by taking on too many projects and will now focus on its core aims with a smaller team.

Bored Ape Yacht Club creator Yuga Labs has announced a restructuring that has seen several roles “eliminated across the company.”

The exact number of layoffs hasn’t been specified; however, in an Oct. 6 blog post shared via X (formerly Twitter), Yuga Labs CEO Daniel Alegre suggested the firm had taken on too many projects that were ultimately distracting it from its “core priorities.”

Mythos Chain surges past Polygon and Solana

Surging NFT trading volume on the gaming-focused Mythos Chain has seen the network surpass Polygon and Solana to become the second-largest blockchain in terms of NFT sales volume over the past 30 days.

According to data from CryptoSlam, Mythos Chain has seen $33.5 million worth of NFT sales volume over the past 30 days, marking a 20.31% increase over that time frame.

In comparison, Polygon and Solana saw $30.9 million and $27.9 million each, marking declines of 45.50% and 16.77% respectively.

Nearly all of the trading volume from Mythos Chain is coming from DMarket, an NFT marketplace that hosts NFTs from a list of games affiliated with Mythical Games, the firm behind the Mythos Chain.

One game that may be behind the surge in NFT sales is Nitro Nation World Tour, a Web3 mobile street racing game that officially launched in October. The game is backed by popular DJ Deadmau5.

Starbucks tokenizes pumpkin-spiced lattes — but why?

Starbucks has released an open-edition set of Pumpkin Spiced Latte NFTs on the Nifty Gateway marketplace.

The NFTs cost $20 apiece and are on sale from Oct. 5–9.

At the time of writing, 1,213 NFTs have been minted, suggesting Starbucks has pulled in just under $25,000 from the collection so far.

The NFTs are part of the coffee chain’s Web3 loyalty rewards program, Starbucks Odyssey. The program features NFT stamps, such as the Pumpkin Spice Latte, which can be collected to earn points and specific rewards.

Other Nifty News

Hong Kong-based crypto-focused venture capital firm CMCC Global raised $100 million to support Asian blockchain startups. Dubbed the Titan Fund, it will concentrate on investments in key areas: blockchain infrastructure, consumer applications like gaming and NFTs, and financial services, including exchanges, wallets and platforms for lending and borrowing.

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