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Yuga Labs has bought the mental property (IP) of its Moonbirds non-fungible token (NFT) assortment to Orange Cap Video games, a rising gaming startup.
Yuga Labs accomplished the acquisition of PROOF, the corporate behind the favored NFT challenge Moonbirds, final yr in an effort to strengthen its Otherside metaverse challenge.
Now, the sale of the Moonbirds IP marks the newest in a sequence of divestitures by Yuga Labs, which has been steadily offloading NFT properties it acquired in recent times.
Earlier this yr, the corporate offloaded CryptoPunks and Meebits IPs to refocus on its core Bored Ape Yacht Membership (BAYC) model and Otherside.
Orange Cap Video games, the customer of the Moonbirds IP, is finest identified for launching Vibes TCG, a hybrid buying and selling card sport constructed across the Pudgy Penguins universe.
Whereas particulars stay undisclosed, the studio has confirmed that future Moonbirds-related on-chain belongings can be minted both on a layer-1 blockchain or on ApeChain, Yuga’s personal Ethereum layer-2 community.
Regardless of the handover, Moonbirds characters will nonetheless make appearances within the upcoming Otherside sport, sustaining a thread between the 2 initiatives.
Following the announcement, in keeping with CryptoSlam information, Moonbirds NFTs noticed a pointy market rebound. Weekly gross sales quantity jumped over 2,500%, vaulting the gathering into the highest tier of NFT performers and surpassing even BAYC and Pudgy Penguins in latest rankings.
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