A leaked document describes that Yuga Labs, the project behind Bored Ape Yacht Club NFTs is about to release new NFT collection titled “Mecha Apes.”

Yuga Labs is most recognized for being the brainchild behind the influential NFT project Bored Ape Yacht Club.

With great success, they have transformed BAYC into new derivatives, such as the Bored Ape Kennel Club (BAKC) and the metaverse land project The Otherside.

Additionally, Yuga has established itself as a leading IP holder in the NFT market by acquiring initiatives like CryptoPunks (which was formerly thought of as BAYC’s biggest rival in terms of “blue chip” NFTs).

Mecha Apes, a new NFT project from Yuga Labs with a purported goal of generating $50 million, is now the subject of a new leaked report that was first revealed by Protos today.

Based on past investments from companies like Andreessen Horowitz (a16z), Animoca Brands, FTX Ventures, and others, Yuga has already received a valuation of about $4 billion.