Bored Ape Yacht Club Creator Yuga Labs Acquires Moonbirds NFT Collection from Proof
In a significant development, Yuga Labs, the creator of Bored Ape Yacht Club, has announced its acquisition of Proof, the startup behind the popular Moonbirds non-fungible token (NFT) collection. This acquisition further solidifies Yuga’s position as a major player in the digital art and collectibles space. Here are the key points:
TLDR
- Yuga Labs acquires Proof, the creator of the Moonbirds NFT collection.
- The acquisition includes Proof’s team, intellectual property, and artistic portfolio.
- Moonbirds will be integrated into Yuga’s Otherside metaverse game.
- Proof CEO Kevin Rose will provide advisory support to Yuga after a transition period.
- Yuga plans to continue Proof Collective membership program and align it with its art world efforts.
As part of the deal, Yuga will absorb Proof’s team and incorporate the 10,000-item Moonbirds collection into its upcoming Otherside metaverse game. Proof CEO Kevin Rose will assist with the transition before taking on an advisory role at Yuga. Financial details of the acquisition have not been disclosed.
This acquisition aligns with Yuga’s vision of becoming a hub for artists, creators, communities, and brands in the web3 space. Integrating Moonbirds into Otherside is another step towards achieving this goal.
Moonbirds gained significant popularity upon its launch in April 2022 but faced challenges during the crypto market downturn. The integration into Otherside offers a fresh start for the brand.
This acquisition follows Yuga Labs’ previous acquisitions of CryptoPunks and Meebits, solidifying its position as a dominant player in the NFT space. The decision to acquire Proof came after discussions about a possible collaboration revealed a strong alignment between the two companies.
Yuga plans to leverage Proof’s existing efforts, such as the Proof Collective membership program, to promote its artistic endeavors around brands like CryptoPunks. This acquisition provides a lifeline for Proof after a challenging year.
Hot Take: Yuga Labs Continues to Shape the Industry
Yuga Labs’ acquisition of Proof and the Moonbirds NFT collection demonstrates its commitment to leading the web3 space. By integrating Moonbirds into Otherside and leveraging Proof’s talents, Yuga is poised to make significant strides in the digital art and collectibles industry. As a crypto enthusiast, you should keep an eye on Yuga Labs as they continue to make game-changing moves that could shape the direction of the industry.
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