[Yuga Labs acquires tokenproof to promote NFT innovation]
Yuga Labs announced the acquisition of Web3 tokenization service provider tokenproof, aiming to promote the popularization of cryptocurrency and NFT applications.
On December 3, tokenproof founder Fonz O said on the X platform that the service has been integrated into Yuga Labs, and some teams will join The Workshop, the R&D department of Yuga Labs. He mentioned that years of cooperation with Yuga Labs laid the foundation for this integration and expressed confidence in the future. He revealed that ApeFest inspired tokenproof to develop an NFT ownership verification infrastructure.
Although Fonz O will not join Yuga Labs, he promises to continue developing in the crypto and NFT industry and will participate in future ApeFests as Ape. His humorous response to the purchase price sparked heated discussions among users.
Greg Solano, CEO of Yuga Labs, praised the tokenproof team and said that the two parties have cooperated to solve the problems of NFT security and efficiency. This integration will bring more innovation and convenience to users. He confirmed that the tokenproof team will join The Workshop to assist in technology development.
It is worth noting that Yuga Labs reorganized in April 2024 and laid off some employees, and this acquisition is regarded as part of its business integration and innovation plan.