Yuga Labs sells Dookey Dash NFT for $1 million

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Yuga Labs sells Dookey Dash NFT for $1 million

Mongraal, a pseudonymous gamer, won the Dookey Dash video game at Yuga Labs after a three-week competition. He successfully sold the NFT for a whopping $1.6 million.

Mongraal sold the 'Golden Key' NFT to New York businessman and Bored Ape holder Adam Weitsman for 1,000 ETH, which was trading at about $1,600 at the time of sale.

Yuga Labs, based in San Francisco, creates the Bored Ape Yacht Club and Mutant Ape Yacht Club NFT collections, whose individual pieces have occasionally sold for millions of dollars.

The sale of the golden key is proof that Yuga is still a hit-maker - although Yuga Labs has yet to say what exactly its holder is entitled to.

With more than 25,000 players playing Dookey Dash, Yuga Labs said it had a cumulative 706,000 hours of gameplay.

While the game is simple 'endless runner', a la Temple Run, where the player attempts to survive a never-ending obstacle course for as long as possible, Yuga Labs created a backstory that will continue to play out through future games and events.

Yuga Labs has announced the release of its first-ever Bitcoin-based NFT collection, TwelveFold.

NFTs have become common only on smart-contract-enabled blockchains, such as Ethereum and Solana. But they were made possible on the Bitcoin blockchain by the introduction of the Ordinal Protocol, which was developed by a former Bitcoin core contributor.

To play Dookey Dash, only players of Bored or Mutant Apes could mint the NFTs required to play the game.

The 12-Fold pieces will not have any utility, nor will they interact with Yuga's other Ethereum-based projects.

The company said it expects to sell twelve-month-old pieces at an undisclosed time later this week.