Yuga Labs Acquires PROOF, Moonbirds

Yuga Labs Acquires PROOF, Moonbirds
In this post

Yuga Labs acquired PROOF Collective, adding Moonbirds and its other collections to the Yuga Labs ecosystem.  

The Deets

  • Expansive Acquisition: Yuga Labs adds PROOF, including Moonbirds and Oddities, to its portfolio.
  • Unified Vision: The move aligns with Yuga's aim to be web3's main entry point, enhancing its art and community focus.
  • Strategic Leadership Transition: Kevin Rose transitions to an advisor role post-acquisition, ensuring a smooth integration.
  • Community and Innovation: The PROOF team joins Yuga, promising accelerated innovation and broader reach.

The Bulk

Yuga Labs marks another significant milestone by acquiring PROOF Collective. This acquisition not only expands Yuga's artistic and intellectual portfolio but also reinforces its mission to serve as web3's gateway.

Notable PROOF founder Kevin Rose will transition to an advisory position post-acquisition. Other members of the PROOF team will transition into roles at Yuga, helping oversee the Moonbirds collection and its inclusion within Yuga. 

❗Why It Matters

The acquisition signifies a pivotal moment in web3, bringing a once notable and since devalued brand (PROOF) into the holdings of the largest ecosystem in web3 (Yuga Labs). Yuga's ecosystem has slowly shifted from community to gaming, and now it will bring into focus art, which was recently doubled down on by the PROOF ecosystem. 

📊 By the Numbers

Rumblings may have hit the market a bit before the announcement as Moonbirds jumped considerably earlier this week and now are up another 60% to 2.48 ETH.

🎤 Founder Feedback

We're very excited to bring Moonbirds into Otherside. It's the perfect home and future for our collectors. With the PROOF Collective on board, it shows Yuga's commitment to digital fine art, and our combined resources will allow us to innovate faster and reach more people. It's going to be an exciting journey.Kevin Rose, Founder of PROOF

🔜 What's Next?

Following the acquisition, the immediate focus will be on seamlessly merging Moonbirds and other PROOF assets into the Yuga ecosystem, with an emphasis on community engagement and innovative content creation.

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