Yuga Labs announced on Feb. 16 that it had acquired PROOF, which includes the PROOF collective, Moonbirds, Oddities, and the Grails exhibition series.
Yuga Labs, the leading web3 lifestyle and media company, has purchased PROOF, which includes the PROOF Collective, Moonbirds, Oddities, Mythics, and Grails exhibition series. Bored Ape Yacht Club, Otherside, TwelveFold, and the owners of Meebits, CryptoPunks, and 10KTFare are among the brands Yuga Labs has created and owned.
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CRYPTO BREAKING NEWS
Bored Apes’ creator Yuga Labs acquires Proof, takes over Moonbirds NFT brand. Two of the biggest NFT creators in the industry are joining forces as Yuga Labs acquires Proof, the company behind Moonbirds. check us out @ https://t.co/8dh137aX4R pic.twitter.com/jrYUfxhiQz— InnovatekMobile (@Neome_com) February 16, 2024
PROOF and Yuga’s visions
All of PROOF’s components are consistent with Yuga Labs’ goal of leading the Web3.0 ecosystem. Yuga Labs intends to incorporate Moonbirds into its gamified, metaverse play known as Otherside as part of the agreement.
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However, all of Yoga Labs’ NFT brands are intersected in Otherside, including BAYC, CryptoPunks, Meebits, and 10KTF.
In a statement, Yuga Labs CEO Daniel Alegre said that Moonbirds is a collection with great potential and many unifying brand elements with Otherside. They look forward to PROOF Collective becoming an important part of their ongoing art and community engagement efforts.
Purchasing PROOF
Purchasing PROOF’s assets, personnel, intellectual property, and artistic portfolio are in line with Yuga’s vision to become the front door of web3. Yuga will begin by introducing Moonbirds into Otherside, the hub for content creators, communities, and brands to come together and engage in web3’s social fabric.
According to Daniel Alegre, CEO of Yuga Labs, as a company committed to championing art, culture, and community on the blockchain, they are excited to have PROOF join the Yuga ecosystem. He continued by saying that Moonbirds is a collection with great potential and many unifying brand elements with Otherside. They look forward to PROOF Collective becoming an important part of their ongoing art and community engagement efforts.
Additionally, Kevin Rose, CEO and Founder of PROOF, will transition into becoming an advisor to the company. Josh Ong, Jesse Bryan, and Amanda Gadbow will supervise the transition of the Moonbirds collection and other key elements into the Yuga ecosystem, in addition to the PROOF team members who will assume roles at Yuga.
🚀 Yuga Labs acquires Proof, skyrocketing Moonbirds NFT sales to $3.37M in 24h! 🌕✨
🤝 Kevin Rose steps into advisory role as Proof merges with Yuga, hinting at big plans for Moonbirds in the Otherside metaverse. 🌐🖼️
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According to Kevin Rose, CEO and Founder of PROOF, they are very excited to bring Moonbirds to Otherside. It’s the perfect home and future for their collectors. Also, he said that having the PROOF Collective on board shows Yuga’s commitment to digital fine art, and their combined resources will allow them to innovate faster and reach more people. It’s going to be an exciting journey.
Yuga Labs lands several deals
Yuga Labs similarly bought the intellectual property of Meebits and CryptoPunk more than a year ago.
Bored Ape Yacht Club Creator Buys NFT Collections of CryptoPunks and Meebits #NFT #NFTs #NFTartist #NFTcollectors #NFTCommunity pic.twitter.com/6cQuYBJplW
— Bored Cat 🐱 (@BoredChonkyCat) March 12, 2022
The collection’s original designer, Larva Labs, said at the time that Yuga Labs taking over operations and offering more visionary guidance was what would be best for the CryptoPunks and Meebits collections.
To build a new Ethereum-based marketplace, the Bored Apes Creator also signed a collaboration agreement with NFT marketplace Magic Eden last year. The association was founded as a result of growing concerns about difficulties with creator royalties inside the NFT ecosystem.
With this acquisition, Yuga Labs, which is steadily establishing itself as a leader in the NFT ecosystem, may further rekindle its web3 presence.
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