9 months ago
51 ARTICLE AD
The acquisition's goal is to foster collaboration, innovation, and growth within the Web3 space.
Yuga Labs, the team behind the Bored Apes Yacht Club (BAYC), announced today that it has acquired NFT startup PROOF, bringing to its ecosystem several PROOF’s NFT collections, including Moonbirds, PROOF Collective, Oddities, Mythics, and Grails exhibition series.
Yuga Labs has acquired @PROOF_XYZ, which includes PROOF Collective, @Moonbirds, Mythics, @oddities_xyz, and @Grails exhibition series.
For more information, see the official Yuga News blog: https://t.co/ly3fTYxCBk pic.twitter.com/ouvIM4Hr4S
— Yuga Labs (@yugalabs) February 16, 2024
With this acquisition, Yuba Labs will own PROOF’s entire suite of assets, including its team, intellectual property, and an extensive artistic portfolio, the firm noted in a recent blog post. By integrating these assets with its existing ecosystem, Yuga Labs aims to seed a vibrant and interconnected Web3 ecosystem that attracts creators, communities, and brands.
Daniel Alegre, CEO of Yuga Labs, expressed his enthusiasm for the merger, stating:
“As a company committed to championing art, culture, and community on the blockchain, we’re excited to have PROOF join the Yuga ecosystem. 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.”
As part of the acquisition, Kevin Rose, CEO and founder of PROOF, will transition into an advisory role following a brief handover period. He, alongside the PROOF team transitioning to Yuga Labs, including Josh Ong, Jesse Bryan, and Amanda Gadbow, will facilitate the seamless integration of Moonbirds and other pivotal elements into the Yuga ecosystem.
Rose shared his optimism about the acquisition, saying:
“We’re very excited to bring Moonbirds into Otherside. It’s the perfect home and future for our collectors. With the PROOF Collective on board, it shows Yuga’s commitment to digital fine art, and our combined resources will allow us to innovate faster and reach more people. It’s going to be an exciting journey.”
With this acquisition, Moonbirds and other NFT collections join the ranks of CryptoPunks, Meebits, and 10KTF under the Yuga Labs banner. This amalgamation not only enhances Yuga’s position in the NFT market but also promises to enrich the BAYC Otherside Metaverse, potentially featuring Moonbirds alongside CryptoPunks and Meebits in this virtual world.
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