In a major move that underlines the dynamic evolution of the web3 landscape, Yuga Labs, the powerhouse behind iconic NFT collections such as Bored Ape Yacht Club and Otherside, has announced the acquisition of PROOF, a major player known for PROOF Collective, Moonbirds. , Oddities, Myths and the Grail Exhibition Series. This strategic acquisition not only broadens Yuga’s portfolio, but also strengthens its position as a leader in web3, NFT and digital art.
Uniting titans of digital art and culture
Yuga Labs, known for its influential role in shaping the web3 lifestyle and media domain, has taken a bold step toward realizing its vision of becoming the “front door of web3” by integrating the resources of PROOF , including its team, intellectual property and artistic portfolio. This merger brings together two titans of the digital art world and promises to enrich the web3 ecosystem with enhanced artistic and cultural offerings.
Moonbirds find a new place to sleep
A key part of the acquisition is the introduction of Moonbirds to Otherside, Yuga’s comprehensive platform that serves as a melting pot for content creators, communities and brands. This integration represents a strategic alignment of visions, harnessing Moonbirds’ potential to foster deeper community engagement and artistic collaboration within the Otherside universe.
Yuga Labs has acquired @PROOF_XYZincluding PROOF Collective, @MaanvogelsMyth, @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
Leadership and vision for the future
The transition will see Kevin Rose, CEO and founder of PROOF, take on an advisory role following the transfer, ensuring seamless integration of visions and values. Daniel Alegre, CEO of Yuga Labs, expressed his excitement about the acquisition and emphasized the shared commitment to arts, culture and community that both companies foster. This move is poised to accelerate innovation, expand reach and further solidify Yuga’s leadership in the web3 domain.
A synergistic future ahead
With the support of Yuga Labs, Moonbirds and the PROOF Collective will embark on an exciting journey of growth and innovation. The collaboration promises to not only enhance the digital visual arts landscape, but also create new opportunities for community engagement, artistic expression and cultural enrichment within the web3 ecosystem.
TL; DR
Yuga Labs is acquiring PROOF, including the Moonbirds Collection and PROOF Collective, with the aim of enhancing its web3 ecosystem and fostering deeper engagement with art and community. This strategic move marks a merger of two powerhouses in digital arts and culture, paving the way for innovative developments in the web3 space.
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