Yuga Labs announced on July 31 that it would acquire metaverse startup Roar Studios. This move will propel the continued development of the Otherside metaverse and open new avenues for communities to connect and express themselves.
Build immersive experiences
The brainchild and flagship product of Roar Studios, Roar is an immersive media experience where artists and fans connect, collaborate and compete in real time, from anywhere in the world. At the heart of the experience is the creation of what the company calls “an entirely new product category,” an experiential, semi-autonomous music and entertainment world driven by individual content creators and community consensus.
Combining innovative proprietary technology with established MMO game and platform systems, Roar Studios brings together its team of audio, game and AI engineers to create unique user experiences.
Yuga Labs, the parent company of Bored Ape Yacht Club (BAYC), CryptoPunks, Meebits, 10KTF and others, has continued to explore what’s possible since BAYC launched in April 2021. As one of the first companies to license IP to NFT Yuga has increasingly focused on solidifying her vision for the future for Otherside.
Daniel Alegre, CEO of Yuga Labs, expressed his excitement about the recent acquisition of Roar Studios and its ability to accelerate his bold vision for the entire Yuga ecosystem:
“Roar Studios has redefined what it means to experience media content in the metaverse,” Alegre said in a press release. “[Its] dedication to creating creative content and social connections will accelerate our execution of our bold vision for Otherside and Yuga’s wider ecosystem.
Echoing this sentiment, Eric Reid, founder and CEO of Roar Studios, emphasized the alignment of both companies’ missions. “Our team’s mission is to empower players to create and socialize in a community-driven, open media experience,” said Reid.
Prior to Roar Studios, Reid spent more than two decades building teams and creating and distributing film, television and music content, including global film franchises such as Underworld. Roar Studios, which launched in early 2021, has reportedly raised $7 million in a funding round led by Galaxy Interactive, Todd Wagner, Scott Barger and other notable investors, according to Digital Music News. As of October 2021, the Advisory Board consisted of Dylan Jadeja (Riot Games), Thomas Vu (League of Legends), Sid Fohrman (Sheppard Mullin), Sky Hansen (Wagner Investment Group), and Professors Chris Chage (Stanford) and Greg Niemeyer (Berkely).