Yuga Labs co-founder and CEO Greg Solano (aka Garga) announced in a post on X on Friday that the company would be launching a series of new products developed by a small team within the company.
Solano, who goes by The Workshop name, explained that he built an internal team after taking over the CEO role from former Activision Blizzard executive Daniel Alegre in February. Yuga Labs cut several roles in April as part of a corporate restructuring centered around this change.
“The creativity-first spirit that has driven this company since its founding is being clouded by a labyrinthine corporate process. We work hard and care, but somehow groups and committees emerge. We plan more than we ship,” Solano wrote in a memo to employees at the time. “Centering ourselves and getting things right means becoming a smaller, more nimble, more cryptic team. One that does less, but gets it done well.”
Solano seems to have tried to build his dream team at The Workshop. “Our top 13 engineers and product people. No fat people, just doers,” Solano describes in the X post. The team is focused on driving adoption to the upcoming ApeChain network.
According to Solano, the team will focus on rapidly releasing new products and weeding out unpopular ones. The team’s goal, in Solano’s words, is to “…make fun shit on the chain quickly. Create new primitives and protocols or remix old ones. (Workshops) are one of the primary ways we’ll do that in the coming weeks and months as we release the team’s first set of products on ApeChain.”
Solano noted that Yuga Labs, which is in a much less hospitable environment for NFT-related projects than it was a few years ago, won’t support a failed product for long. “If something doesn’t work, we kill it. With love, but without mercy,” Solano wrote.
This product will be launched on ApeChain, an upcoming Ethereum Layer 2 network. Built for the Yuga Labs ecosystem, supported by Arbitrum and managed by Offchain Labs and Horizen Labs, the creators of Arbitrum. Aipcoin 
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According to the proposal, ApeCoin DAO will be used as the base token and ApeCoin DAO will serve as the main governance body.
According to The Block’s ApeCoin price page, the price of ApeCoin has fallen by about 57% since August of last year. The Block was unable to immediately reach Yuga Labs for comment on the announcement.
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