Yuga Labs Acquires Proof: Expanding its NFT Empire
Yuga Labs, the parent company behind Bored Apes Yacht Club (BAYC), has made a significant move by acquiring Proof, a Moonbirds Non-Fungible Token (NFT) startup. This acquisition aligns with Yuga Labs’ vision of becoming a leader in the Web3.0 ecosystem. The deal includes gaining access to Proof’s assets, team, intellectual property, and artistic portfolio.
Integration of Moonbirds into Otherside
As part of the acquisition, Yuga Labs plans to integrate Moonbirds into its gamified metaverse play called Otherside. Otherside serves as the intersection of all Yuga Labs’ NFT brands, including BAYC, CryptoPunks, Meebits, and 10KTF.
Kevin Rose Becomes Advisor
Kevin Rose, the CEO and founder of Proof, will become an advisor to the new company after completing a proper handover. Other Proof employees, such as Josh Ong, Jesse Bryan, and Amanda Gadbow, will join the Yuga team to oversee the transition of the Moonbirds collection and other key elements.
Bored Apes Creator’s Previous Deals
This isn’t the first time Yuga Labs has made significant acquisitions. In the past, they acquired the Intellectual Property of CryptoPunk and Meebits. They also collaborated with NFT marketplace Magic Eden to address challenges related to creator royalties in the NFT ecosystem.
With these moves, Yuga Labs is solidifying its position as a prominent player in the NFT space and expanding its Web3 presence.
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