Yuga Labs, the company behind the popular Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection, has acquired Proof, the creator of Moonbirds.
The acquisition, announced on Friday, is a strategic move to expand Yuga Labs’ presence in the Web3 space and integrate Proof’s assets into Otherside, a metaverse platform that features intellectual properties and NFT collections of Yuga Labs.
The deal includes Proof’s team, intellectual property, and artistic portfolio, with plans to continue the Proof Collective membership program.
“As a company committed to championing art, culture, and community on the blockchain, we’re excited to have PROOF join the Yuga ecosystem,” said Daniel Alegre, CEO of Yuga Labs. “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.”
Proof’s CEO Kevin Rose will transition into an advisory role at Yuga Labs following a period of assistance with the integration. The financial terms of the acquisition have not been disclosed.
Moonbirds sales surged 55% to US$415,376 in the 24 hours to 2 p.m. ET, according to CryptoSlam.
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- Source: https://forkast.news/bored-ape-yuga-labs-buys-moonbirds-proof/
