1 week ago
Crypto gaming startup Orange Cap Games (OCG) has acquired the intelligence spot of the Ethereum-based non-fungible token postulation Moonbirds from Yuga Labs.
OCG said connected May 30 that it bought the Moonbirds, Mythics and Oddities NFT collections from Yuga, but did not disclose details oregon pricing of the deal.
It comes a small implicit a twelvemonth aft Yuga acquired the 3 collections erstwhile it took implicit the institution that created them, PROOF, successful February.
“Moonbirds merit a squad whose full satellite is the birds, and there’s nary 1 amended than Orange Cap Games to assistance them scope their potential,” Yuga Labs co-founder Greg Solano said.
He added that Yuga was “laser-focused” connected its archetypal collections, which includes the erstwhile high-priced Bored Ape Yacht Club and its assorted spinoffs, including the Mutant Ape Yacht Club arsenic good arsenic its long-in-development metaverse, Otherside.
As portion of the deal, Moonbirds volition inactive motorboat connected Otherside and immoderate caller onchain assets created by the squad volition beryllium hosted connected Ethereum oregon Yuga’s layer-2 network, ApeChain.
Moonbirds person much than tripled successful terms to 0.9 ETH aft quality of the acquisition. However, the postulation is inactive down astir 98% from its all-time precocious of 38.5 ETH successful April 2022, according to CoinGecko.
The level terms of Moonbirds has changeable up from 0.295 ETH to 0.9 ETH since the acquisition. Source: CoinGecko. Yuga Labs IP sell-off continues
Yuga has continued to offload its NFT collections and intelligence properties arsenic the NFT marketplace has taken a crisp dive and continues to spot debased trading volumes.
Earlier successful May, Yuga sold the intelligence spot rights of CryptoPunks, considered by galore to beryllium a pioneering NFT collection, to the nonprofit enactment Infinite Node Foundation. The presumption of the deals were not disclosed.
In February, The Meebit Company acquired Meebits from Yuga Labs; however, Yuga inactive has a number stake, with task steadfast 1confirmation besides being portion of the deal.
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Last year, Yuga sold off the IPs of 2 of its games, HV-MTL and Legends of the Mara, successful a determination to refocus the organization’s halfway collections.
Meanwhile, connected May 30, Disney announced that it had teamed up with Dapper Labs, creators of NBA Top Shot and CryptoKitties, to motorboat its caller loyalty program. Disney+ subscribers volition person a integer pin each month.
The downtrend for NFTs is seemingly coming to an end.
In May, unsocial NFT buyers increased by 50% to 936,000 from the erstwhile month, whereas NFT measurement accrued to $430 million, an summation of 15% from April.
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