In a major industry move, Bored Ape Yacht Club creator Yuga Labs has acquired NFT company PROOF. The deal includes PROOF’s assets, team, intellectual property, and notable collections like Moonbirds, Oddities, Mythics, and Grails.
Yuga aims to integrate these digital artworks into its ambitious metaverse plans, specifically the gamified Otherside virtual world. CEO Daniel Alegre suggests Moonbirds’ theming aligns well with Otherside’s aesthetic and concepts.
In an announcement, Alegre reaffirmed Yuga’s commitment to championing blockchain art and culture, stating “We look forward to PROOF Collective becoming an important part of our ongoing art and community engagement efforts.”
PROOF founder Kevin Rose expressed excitement about the strategic partnership, citing Yuga’s dedication to digital fine art. He anticipates innovation and accelerated growth from joining forces with one of crypto’s preeminent brands.
Following the acquisition, Rose will advise Yuga Labs as key members of PROOF oversee the transition process. The deal underscores Yuga’s aspirations to lead the entire Web3 space by consolidating top NFT talent.
By acquiring PROOF’s coveted collections and personnel, Yuga gains creative assets, engaged communities, and blockchain expertise to enrich its metaverse ecosystem. As the company expands, it could pursue similar deals to incorporate more brands into its growing digital universe.
