Creative Director Jeff Nicholas Exits Yuga Labs’ BAYC to Join Meta’s Reality Labs

Jeff Nicholas is stepping down because the artistic director of Yuga Labs’ Bored Ape Yacht Membership (BAYC) to hitch Meta’s Actuality Labs as a mixed-reality producer targeted on leisure experiences.

Nicholas introduced his transfer by way of an X publish, sharing that he’ll begin his new position in September, the place his focus can be on digital merchandise.

In his new position at Actuality Labs, Nicholas can be chargeable for creating and executing interactive content material throughout platforms. His duties, as outlined within the LinkedIn job posting from two months in the past, will embrace overseeing the creation and execution of client applications and setting the imaginative and prescient for these initiatives.

Nicholas described the profession change as “bittersweet,” expressing gratitude for his time at Yuga Labs. In his publish, he said, “However bittersweet as a result of, properly, which means as we speak is my final day with the unimaginable workforce at Bored Ape Yacht Membership and Yuga Labs.” 

He reassured the BAYC group that he stays deeply dedicated to the venture, saying, “I minted Apes, I’m an Ape until I die, and I’m wanting ahead to persevering with to be a part of the group as this membership, model, and legacy unfold within the days, months, and years to come back.”

Nicholas had been the artistic director at BAYC for somewhat over a 12 months, the place he performed a key position in shaping the strategic route of the venture. Nevertheless, his determination to maneuver may very well be linked to the broader challenges within the NFT market. 

The market has seen important downturns over the previous two years, following the “increase” of 2021. Knowledge from CryptoSlam exhibits that BAYC NFTs are actually promoting at costs 20% to 70% decrease than what holders initially paid three years in the past.

Nevertheless, Actuality Labs, the division Nicholas is becoming a member of, can be going through its personal challenges. Earlier this month, Meta’s Actuality Labs reported a $4.5 billion loss for the second quarter of 2024. This comes after the corporate skilled an almost 40% decline in VR headset gross sales in 2023. Regardless of producing over $1 billion in gross sales in the course of the fourth quarter, the division nonetheless posted a $4.65 billion working loss.