Yuga Labs has acquired Proof, a popular NFT brand responsible for the Moonbirds collection. This acquisition is part of Yuga Labs’ efforts to expand its presence in the NFT market and integrate Proof’s offerings, including Moonbirds, Oddities, Mythics, and Grails, into its gamified metaverse play Otherside.
Yuga Labs is reinforcing its role as a leader in the NFT industry by acquiring Proof, showcasing its dedication to promoting art, culture, and community on the blockchain.
The integration of Moonbirds into Otherside contributes to Yuga Labs’ position as a key player in the web3 space, building on its successes with Bored Ape Yacht Club and other well-received collections.
Yuga Labs is a NFT (non-fungible token) studio known for the ownership of popular NFT collections such as Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Cryptopunks, and Meebits.
The company has been actively involved in shaping the Web3 space through storytelling, experiences, and community engagement.
Moonbirds is a collection of 10,000 non-fungible tokens (NFTs) issued under the ERC-721 standard on Ethereum’s network.
The project was created by PROOF, an NFT brand founded by Kevin Rose and Justin Mezzell, both well-known figures in the NFT world.
Moonbirds NFTs are utility-enabled PFPs (profile picture) that feature a richly diverse and unique pool of rarity-powered traits.
The project aims to become another blue-chip PFP initiative but has also added a lot of other perks to Moonbirds owners.
Each Moonbird is built to unlock membership to a private club while attributing further benefits the longer users hold.
This last bit is called nesting. For example, holding a Moonbird also provides access to an NFT-gated Discord server.
Daniel Alegre, CEO of Yuga Labs, expressed enthusiasm about PROOF joining the Yuga ecosystem as he emphasized the shared values of art, culture, and community on the blockchain. Kevin Rose, CEO & Founder of PROOF, will transition to an advisory role after a brief handover period.
Additionally, Josh Ong, Jesse Bryan, and Amanda Gadbow of Moonbirds will manage the transfer of the Moonbirds collection and other essential elements into the Yuga ecosystem, in addition to the PROOF team joining Yuga in new roles.
