Home Ā» Yuga Labs Just Sold the Moonbirds NFT IP, Just a Year After Buying It

Yuga Labs Just Sold the Moonbirds NFT IP, Just a Year After Buying It

by Terron Gold
0 comments

Yuga Labs is serious about refocusing on theĀ Bored Ape Yacht Club, theĀ Otherside metaverse game, and related projects. On Friday, the crypto startup said that it had sold off yet another previously acquiredĀ NFTĀ project IP, dumping theĀ MoonbirdsĀ property that it purchasedĀ just over a year ago. The buyer is Orange Cap Games, a young gaming startup that builds digital and physical trading card games. The firm’s first game, theĀ Pudgy Penguins-themedĀ Vibes TCG, launched onĀ Ethereum layer-2 network Abstract.

“Spencer [Gordon-Sand, CEO] and the team at Orange Cap Games are among the smartest, most detail-oriented builders in consumer crypto,” Yuga Labs co-founder and CEO Greg “Garga” Solano wrote on X. “Moonbirds deserve a team whose whole world is the birds, and there’s no one better than Orange Cap Games to help them reach their potential.”

Orange Cap Games has yet to share concrete plans for the Moonbirds IP and associated Mythics and Oddities collections. However, inĀ an X post, the studio said that any future on-chain assets tied to Moonbirds will either be minted on a layer-1 chain or on theĀ Yuga-linked ApeChain, an Ethereum layer-2 network. Additionally, Moonbirds characters will still come to Yuga’s long-in-the-works Otherside game.

Already this year, Yuga Labs has parted ways with theĀ CryptoPunksĀ andĀ MeebitsĀ IP that it acquired from Larva Labs in 2022. The Meebits IP wasĀ sold in FebruaryĀ to a new startup, The Meebit Company, while the nonprofit Infinite Node FoundationĀ picked up the influential CryptoPunks IP earlier this month. The original Moonbirds NFT collection was launched on Ethereum in April 2022, with immense demand generating $280 million worth of primary and secondary sales in the initial weekend.
Ā 
Original creator Proof, led by Digg co-founder and venture capitalist Kevin Rose, raised some $60 million in funding after the mint to create a crypto ecosystem of content, assets, and events. However, as the NFT market collapsed into late 2022 and throughout 2023, the firm faced increasing pushback from collectors. Yuga Labs ultimatelyĀ acquired Proof and the Moonbirds IP in February 2024, with Rose becoming an advisor to the Bored Ape maker as part of the deal.

You may also like

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?

This website uses cookies to improve your experience. To read more or opt here visit the privacy policy. Accept Read More