Yuga Labs, which operates in the non-fungible token and Metaverse space, announced that it has hired Spencer Tucker as its first chief game officer.

Tucker, who was previously head of games at mobile game studio Scopely, will oversee Yuga's activities in the gaming space, including the Otherside Metaverse project, according to a news release. Tucker said in his statement on the subject:

   “Web3 is revolutionizing gaming, entertainment and community just as mobile is revolutionizing. I am thrilled to join the Yuga Labs team and continue to build the new era of interoperability and community-driven growth in the Otherside Metaverse.”

OtherSide

Previously, the company laid out its vision for Otherside in a litepaper advocating for open development, user-generated content, and interoperability for the online world. It also held a new tech demo that allowed owners of Otherdeed NFTs to test Otherside.

Otherdeed NFTs allow owners to own land in the Otherside metaverse. All 55,000 Otherdeed land NFTs were sold out in three hours for Ethereum in May. Yuga Labs CEO Nicole Muniz expressed her thoughts on the subject as follows:

   “Yuga is best known today for being the hub of Bored Ape Yacht Club, CryptoPunks and Meebits, but Yuga is more than that. Gaming is one of our main focus areas. Revolutionizing the way we think about web3 games through core principles like ownership, utility, community and storytelling. We are in a unique position for it.”

Metaverse Coins Impacted by Bear Market

Metaverse altcoins, which are seen as the highest potential products of the crypto money industry, continue to lose value in recent times. According to data shared by CoinMarketCap, the following metaverse altcoins have lost a significant amount of value as of this week:

MAGIC, inSure Defi, UFO Gaming, Iluvium, Dvision, Network Render Token, RMRK