YUGA LABS ACQUIRES PROOF AND MOONBIRDS
Channel: The Schiller
Date: 2024-02-16

#breaking #breakingnews #yugalabs #moonbirds #web3 

Yuga Labs, the creator of the Bored Ape Yacht Club, has acquired Proof, the NFT startup behind the Moonbirds collection and Proof Collective membership program. This acquisition will see the Proof team integrated into Yuga Labs and the Moonbirds collection incorporated into the upcoming Otherside metaverse game. Kevin Rose, co-founder and CEO of Proof, will transition to an advisory role at Yuga Labs after the acquisition. Despite previous denials of acquisition talks, discussions between the companies progressed quickly, leading to this significant development. The integration aims to enhance Otherside's game world, featuring avatars from various NFT projects, including Moonbirds. Yuga Labs also plans to maintain the Proof Collective's operations and explore how the Proof brand aligns with its art initiatives. The acquisition follows Proof's impactful entrance into the NFT space, marked by significant sales and fundraising successes, albeit amidst challenges like market downturns and community pushbacks on decision-making.