Yuga Labs Acquires Moonbirds Parent Company! Latest Updates Revealed: Introducing “Moonbirds Universe”
Prominent NFT project Yuga Labs, the parent company of the renowned Moonbirds NFT, recently released exciting new updates following their acquisition of PROOF, the parent company of Moonbirds, earlier this February.
The project is currently developing a virtual world called “Moonbirds Universe,” which includes 3D-rendered Moonbirds characters that can be used in animations and interact with the Otherside universe.
Moonbirds also announced that their project is now a collection with commercial rights, meaning users need to own NFT characters to engage in creative activities. This marks a departure from the previous “CC0 (Creative Commons Zero)” era, where owners did not have copyright ownership of the artwork.
With a change in brand direction, renowned artist Colin Hesterly will lead the aesthetic upgrade of the entire Moonbirds ecosystem, transforming the classic Web3 characters from mere “pixel images” to more captivating ones.
Interestingly, the ambitions of Moonbirds Universe extend beyond the virtual world, as the project aims to expand its development into the real world through physical collectibles. Additionally, there will be offline gatherings for the Moonbirds community at the Apefest event in Lisbon in October 2024.
With the support of Yuga Labs, Moonbirds is redefining its brand presentation and participation model.
Yuga Labs Faces Organizational Restructuring Amidst Direction Loss
While Moonbirds has finally announced exciting news, Yuga Labs, the company that acquired the project, is currently undergoing organizational restructuring and has laid off some employees.
Yuga Labs CEO Greg Solano stated in a message that he is determined to change Yuga Labs and bring the company back to its roots, which entails making difficult decisions. One of the toughest decisions was parting ways with some talented team members.
In a letter to employees, Solano admitted, “Simply put, Yuga Labs has lost its direction. To get us back on track, it means becoming a smaller, more agile, and more cryptonative team.”
Yuga Labs’ highly anticipated Otherside game, a derivative metaverse featuring the Bored Ape characters, has faced multiple delays, possibly due to the recent challenges faced by the company. However, Solano also mentioned in the employee letter that Yuga Labs will focus its game development efforts on Otherside while promptly announcing other game plans.
Sources:
– Bloomberg
– NFTPlazas
Proofread by: Gao Jingyuan
