Backlash against Bored Apes’ success

  • Yuga Labs and its Bored Ape Yacht Club have been on a tremendous roll with the acquisition of the legendary CryptoPunks from Larva Labs, air dropping of millions of dollars’ worth of its new ApeCoin to Bored Ape owners, making some even multi-millionaires, and broadcasting a teaser video for the Otherside, which is launching in April.
  • But those successes have also sparked backlash.
  • We’ll try to disentangle the reasons for the backlash but they appear to be a mix of objections:
    • The rich get richer.
    • Yuga Labs is not really a Web3 decentralized organization.
    • Bored Apes are ugly.
    • Other (DM us)