Yuga Labs, developers of the prominent non-fungible token collection (NFT) collection Bored Ape Yacht Club (BAYC), has announced the acquisition of rival NFT company PROOF. This transaction is understood to grant Yuga Labs full ownership of all PROOF’s assets and products, including the Moonbirds NFT collection.
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Via a blog post on Friday, Yuga Labs shared details of a strategic brand expansion involving the purchase of the PROOF NFT development firm. With the exact amount of money involved in this deal remaining unknown, the BAYC curators have stated that this move aligns with their vision of becoming the “front door of Web3”.
Yuga Labs has acquired @PROOF_XYZ, which includes PROOF Collective, @Moonbirds, Mythics, @oddities_xyz, and @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
Yuga Labs, which is arguably the biggest NFT studio in the crypto ecosystem, now adds to its collection all of PROOF’s portfolio, including the PROOF collective, Oddities, Mythics, Grails, and the startup’s flagship project – the Moonbirds.
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