Yuga Labs has lately bought the mental property rights to the Moonbirds NFT assortment to a brand new participant within the crypto gaming house—Orange Cap Video games.
Introduced on Friday, the deal marks Yuga Labs’ third main divestment of a high-profile NFT assortment in 2025, following the gross sales of CryptoPunks and Meebits earlier this 12 months.
While monetary phrases weren’t disclosed, the sale indicators a continued shift in technique at Yuga Labs because it narrows its focus to its core choices, together with its flagship Bored Ape model and the long-awaited Otherside metaverse recreation.
Supply: Greg Solana (X)Why is Yuga Labs promoting Moonbirds?
Yuga Labs acquired Moonbirds as a part of its buy of Proof in February 2024, at a time when the NFT market was nonetheless in restoration after a steep decline. The deal was seen as an effort to consolidate promising NFT IP beneath one roof. Kevin Rose, co-founder of Proof and a distinguished determine in web3, joined Yuga as an advisor following the acquisition.
Nevertheless, in current months, Yuga Labs has made clear that it intends to refocus its efforts on its unique initiatives. Along with Moonbirds, it has transferred management of each the Meebits and CryptoPunks IP, which had been obtained from Larva Labs in 2022. These strikes mirror an inside technique shift prioritising improvement of the Bored Ape Yacht Membership and Otherside, whereas shifting away from managing exterior collections.
The corporate mentioned the Moonbirds model would profit from a staff totally devoted to it—one thing Yuga Labs may now not present.
Supply: Orange Cap Video gamesWhat to anticipate from Orange Cap Video games?
Orange Cap Video games is a comparatively new entrant to the crypto gaming scene, finest recognized for Vibes TCG, a buying and selling card recreation themed round Pudgy Penguins and launched on the Ethereum layer-2 community Summary.
Though the corporate has but to stipulate particular plans for Moonbirds, it has indicated that any future blockchain-based content material can be launched on a layer-1 chain or on ApeChain, an Ethereum-based layer-2 community supported by Yuga Labs. The studio has not introduced whether or not Moonbirds can be built-in into future video games or tailored into different codecs, reminiscent of collectibles or interactive media.
In a publish on X, Yuga Labs CEO Greg Solano praised Orange Cap’s management, describing them as “good” and “detail-oriented: builders, and prompt the studio can be a greater long-term dwelling for the undertaking.
Supply: MoonbirdsWhat’s subsequent for Moonbirds?
Regardless of the switch of possession, Moonbirds characters are nonetheless anticipated to look in Otherside, Yuga Labs’ long-running metaverse undertaking that is still in energetic improvement.
Moonbirds launched in April 2022 with vital fanfare, producing over $280 million in main and secondary buying and selling inside days. The gathering was seen as a flagship undertaking for Proof, which raised roughly $60 million in funding to construct a broader ecosystem of content material and occasions. Nevertheless, as market curiosity waned in late 2022 and all through 2023, Proof confronted rising criticism from holders and finally bought the IP to Yuga Labs early the next 12 months.
Now, beneath a brand new proprietor, Moonbirds IP—together with its affiliated Mythics and Oddities collections—will now be managed by Orange Cap Video games, which has emerged as a developer of each digital and bodily buying and selling card video games.
