Yuga Labs Acquires Moonbirds’ Parent Company! Latest Updates Revealed: Introducing “Moonbirds Universe”
Yuga Labs, the parent company of the renowned blue-chip NFT project, Boring Apes, made headlines earlier this year when it acquired PROOF, the parent company of another well-known blue-chip NFT project, Moonbirds. Now, they have recently released exciting updates related to Moonbirds.
The project team is currently building a virtual world called “Moonbirds Universe,” which includes 3D-rendered Moonbirds characters that can be used in animations or interacted with in the Otherside universe.
Moonbirds has also announced on their official platform that the project has transitioned into a commercially licensed collection. This means that users need to own the NFT characters in order to participate in creative activities, marking a departure from the previous “CC0” era where the owner didn’t possess copyright ownership.
With the change in brand direction, renowned artist Colin Hesterly will lead the aesthetic upgrades for the entire Moonbirds ecosystem, transforming the classic Web3 characters from mere “pixel images” to more captivating entities.
Interestingly, the ambitions of Moonbirds Universe extend beyond the virtual world. The project team aims to expand the development into the physical realm through collectibles. Furthermore, there will be offline Moonbirds community gatherings during 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 Directional Shift
While Moonbirds has finally unveiled exciting news, Yuga Labs, the company that acquired the project, is currently undergoing organizational restructuring and has recently laid off some employees.
Yuga Labs CEO Greg Solano shared in a statement that he is committed to changing the direction of Yuga Labs and bringing the company back to its roots. This means making difficult decisions, including bidding farewell to some talented team members.
In a letter addressed to the employees, Solano admitted, “Simply put, Yuga Labs has lost its way. To get us back on track, it means becoming a smaller, more agile, and more cryptonative team.”
Yuga Labs’ highly anticipated Boring Apes derivative metaverse game, “Otherside,” has faced multiple delays in its release, possibly due to the challenges the company has been facing. However, Solano also mentioned in the employee letter that Yuga Labs will be focusing its game development efforts on “Otherside” and will soon announce other game projects.
Sources:
Bloomberg,
NFTPlazas
Editor: Gao Jingyuan