Yuga Labs Divests Moonbirds NFT IP to Gaming Startup Amid Strategic Refocus

Yuga Labs, the creator of the Bored Ape Yacht Club, has sold the Moonbirds NFT intellectual property to the gaming startup Orange Cap Games. This move is part of Yuga Labs' ongoing strategy to divest non-core assets and refocus on its primary projects, including the Bored Ape ecosystem and the Otherside metaverse.

Yuga Labs' Strategic Shift

Yuga Labs' sale of Moonbirds marks its third NFT IP divestment in 2025, following the earlier sales of CryptoPunks and Meebits. This strategic realignment indicates a clear shift away from diversifying within the NFT space and a renewed focus on its flagship Bored Ape Yacht Club and the Otherside metaverse project.

• The company acquired Moonbirds in early 2024 as part of a broader purchase of its creator, Proof.

• Despite Moonbirds being a prominent Ethereum NFT project, Yuga Labs is streamlining its portfolio.

• Yuga Labs co-founder Greg Solano stated, "We're laser-focused on Apes, Otherside, and something special we've been cooking up.

Orange Cap Games Expands NFT Gaming Portfolio

Orange Cap Games, a relatively new entrant in the blockchain gaming market, has aggressively expanded its IP portfolio with the acquisition of Moonbirds. The studio is known for its hybrid approach to physical and digital experiences.

• Orange Cap Games recently launched a trading card game based on Pudgy Penguins on the Ethereum layer-2 network.

• The acquisition of Moonbirds signifies Orange Cap Games' ambition to strengthen its presence in the NFT-powered gaming sector.

• While specific plans for Moonbirds are yet to be fully disclosed, Orange Cap Games indicated that future on-chain components of the Moonbirds IP could exist on a mainnet blockchain or Yuga Labs' affiliated ApeChain.

• Moonbirds assets will continue to be featured in Yuga's Otherside metaverse, ensuring some continuity between the two entities.

The Evolving NFT Market Landscape

The sale of Moonbirds reflects the ongoing evolution and realignment within the NFT market. Launched in April 2022, Moonbirds initially saw significant success, generating over $280 million in transactions during its first weekend. However, the subsequent decline in the broader NFT market impacted its momentum and community engagement.

• The 2024 acquisition by Yuga Labs was seen as a potential revitalization for the project.

• The current sale to Orange Cap Games highlights a trend of major players either acquiring or realigning around core assets.

• The future resurgence of Moonbirds will depend on Orange Cap Games' ability to innovate and re-engage the audience in the rapidly changing digital landscape.

This divestment by Yuga Labs and the acquisition by Orange Cap Games underscore the dynamic nature of the NFT market, where strategic focus and adaptation are key to long-term success.

Sources

• Moonbirds NFT IP Boldly Sold By Bored Ape Creator To Gaming Startup, TronWeekly.

• Bored Apes-creator Yuga Labs unloads Moonbirds as IP selloff continues, The Block.

• News Explorer — Yuga Labs Just Sold the Moonbirds NFT IP, Just a Year After Buying It, Decrypt.

• Bored Ape Yacht Club Maker Sells Moonbirds IP to Gaming Startup, Decrypt.