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Highlights
- Yuga Labs has acquired Proof, the creator of the Moonbirds NFT collection
- Yuga Labs previous bought CryptoPunks
- Firm might be making a reboot into the crypto ecosystem amid ongoing bull run
Yuga Labs, the parent company of Bored Apes Yacht Club (BAYC) has bagged a new deal with the acquisition of Proof, Moonbirds Non-Fungible Token (NFT) startup.
Yuga Labs and Proof Hints Aligned Vision
Yuga Labs is gradually evolving and expanding to greater heights. The firm announced that it has acquired Proof which includes the Proof Collective, Moonbirds, Oddities, Mythics, and Grails exhibition series. Through this acquisition, the Bored Apes creator has automatically gained access to Proof’s assets, including its team, intellectual property, and artistic portfolio.
These components of Proof are all in alignment with Yuga Labs’ vision of becoming a pioneer in the Web3.0 ecosystem. Markedly, the BAYC creator refused to reveal details about the financial implications of the acquisition. As part of the deal, Yuga Labs plans to integrate Moonbirds into its gamified, metaverse play known as Otherside.
Otherside is the “intersection” of all of Yuga Labs’ NFT brands, including BAYC, CryptoPunks, Meebits, and 10KTF.
Yuga Labs CEO Daniel Alegre noted in a statement that “Moonbirds is a collection with great potential and many unifying brand elements with Otherside. We look forward to PROOF Collective becoming an important part of our ongoing art and community engagement efforts.”
Based on the plan, Kevin Rose, the CEO and founder of Proof will become an advisor in the new company. This is after he must have completed a proper and brief handover. Some other Proof employees will join the Yuga team and this includes Josh Ong, Jesse Bryan, and Amanda Gadbow who will be available to oversee the transition of the Moonbirds collection and other key elements into the Yuga ecosystem.
Bored Apes Creator Bags Multiple Deals
More than one year ago, Yuga Labs acquired the Intellectual Property of CryptoPunk and Meebits similarly.
At the time, Larva Labs, the initial creator of the collection stated that it became clear to the firm that what would be best for the CryptoPunks and Meebits collections was for Yuga Labs to take over operations and provide a more visionary guideline.
Last year, the Bored Apes Creator also inked a collaboration deal with NFT marketplace Magic Eden aimed toward the launch of a new Ethereum-based marketplace. The alliance was birthed out of a growing concern within the NFT ecosystem where creator royalties have faced challenges.
Yuga Labs is gradually proving itself as a top shot in the NFT ecosystem and this acquisition might further re-ignite its Web3 footprint.
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