6
Yuga Labs has sold the intellectual property (IP) of its Moonbirds non-fungible token (NFT) collection to Orange Cap Games, a rising gaming startup.
Yuga Labs completed the acquisition of PROOF, the company behind the popular NFT project Moonbirds, last year in an effort to strengthen its Otherside metaverse project.
Now, the sale of the Moonbirds IP marks the latest in a series of divestitures by Yuga Labs, which has been steadily offloading NFT properties it acquired in recent years.
Earlier this year, the company offloaded CryptoPunks and Meebits IPs to refocus on its core Bored Ape Yacht Club (BAYC) brand and Otherside.
Orange Cap Games, the buyer of the Moonbirds IP, is best known for launching Vibes TCG, a hybrid trading card game built around the Pudgy Penguins universe.
While details remain undisclosed, the studio has confirmed that future Moonbirds-related on-chain assets will be minted either on a layer-1 blockchain or on ApeChain, Yuga’s own Ethereum layer-2 network.
Despite the handover, Moonbirds characters will still make appearances in the upcoming Otherside game, maintaining a thread between the two projects.
Following the announcement, according to CryptoSlam data, Moonbirds NFTs saw a sharp market rebound. Weekly sales volume jumped over 2,500%, vaulting the collection into the top tier of NFT performers and surpassing even BAYC and Pudgy Penguins in recent rankings.
