Yuga Labs acquires Moonbirds brand

Acquired Proof

NFT studio Yuga Labs, which issues BAYC NFTs, announced that it has acquired rival NFT brand “Proof.'' Consolidation in the NFT industry appears to be accelerating.

Proof's collections Moonbirds, Mythics, Oddities, and Grails will be brought under Yuga Labs.

Yuga Labs has acquired @PROOF_XYZwhich includes PROOF Collective, @MoonbirdsMythics, @oddities_xyzand @Grails exhibition series.

For more information, see the official Yuga News blog: https://t.co/ly3fTYxCBk pic.twitter.com/ouvIM4Hr4S

— Yuga Labs (@yugalabs) February 16, 2024

Following this announcement, the Moonbirds floor price soared from 1.6 ETH ($4,464) to 2.8 ETH ($7,812) at one point, but is currently trading at 1.875 ETH.

The highest price for Moonbirds was 38.5 ETH in May 2022.

Yuga Labs has not disclosed details regarding this acquisition, including the purchase price.

Regarding the future position of Moonbirds, it is planned to be integrated into Otherside of the Metaverse.

Proof is an NFT-related company launched by Kevin Rose, known as an early investor in Meta (formerly Facebook), and Moonbirds is its first 10,000-piece PFP NFT. The company raised $50 million in a Series A round in August 2022 from a16z, Seven Seven Six, and others.

connection:Yuga Labs CEO announces full commitment to metaverse game “Otherside”