Yuga Labs Acquires Web3 Startup Proof, Set to Integrate Moonbirds into Otherside

Yuga Labs, creators of the Bored Ape Yacht Club NFT, has made big moves in the Web3 scene by acquiring Proof, the firm behind the popular Moonbirds collection. Yuga will now include Moonbirds and other Proof properties like Oddities, Mythics, and Grails into its portfolio. The latter will join Yuga Labs and collaborate in developing the Otherside metaverse. 

Kevin Rose, Proof's co-founder, will transition to an advisory role at Yuga Labs. This comes after Rose had earlier denied rumors of an acquisition. Despite this, the two companies found common ground, leading to a quick agreement on the acquisition. 

Yuga Labs CEO Daniel Alegre shared his excitement about the tie-up. He believes Moonbirds fits perfectly into the Otherside game, featuring characters from different NFT projects. The financial terms of the deal remain undisclosed, but it's clear that Yuga sees this as a key step in expanding its reach in the world of digital art.

"We had a meeting of the minds and we said, 'You know what? Let's do this, let's have Proof become a part of the Yuga family,'" Alegre told Decrypt in an interview. "And then it all worked out. It was actually pretty quick too."

The Proof Collective, launched by Rose in late 2021, emerged as an NFT-based membership platform. It provides members with exclusive mints, real-world meetups, and other perks, and quickly gained popularity after revealing Moonbirds, a 10k PFP collection. 

However, the journey has not been without its challenges. Proof faced market downturns and community pushback over decisions such as open-sourcing the Moonbirds artwork. Despite this, Yuga Labs' acquisition of Proof is a watershed moment, paving the way for growth and collaboration in the Web3 space.