- Yuga Labs completes the acquisition of PROOF, the developer behind the Moonbirds NFT collection.
- The terms of the deal remain confidential.
In a recent announcement, Yuga Labs has officially acquired PROOF, a startup renowned for its NFT collections like PROOF Collective, Moonbirds, Oddities, Mythics, and Grails.
Yuga Labs intends to integrate Moonbirds into its gamified meta version of the game Otherside, as per reports.
“Moonbirds boasts immense potential, with numerous elements that align seamlessly with Otherside. Additionally, PROOF Collective will play a significant role in our continuous efforts towards arts and community engagement,” stated Yuga Labs CEO Daniel Alegre.
While Yuga Labs has chosen not to disclose specific details regarding the deal, it is worth noting that PROOF CEO and founder Kevin Rose will serve as an advisor to Yuga Labs. He expressed excitement about the merger, mentioning that “the combined resources of both companies will enable us to innovate at a faster pace and reach a broader audience.”
It is worth mentioning that Yuga Labs recently emerged victorious in a legal battle against the creators of a fraudulent NFT collection.