Yuga Labs Sells Moonbirds IP to Orange Cap Games: A Strategic Shift in the NFT Market

In a significant move signaling a strategic shift within the NFT market, Yuga Labs, the creator of Bored Ape Yacht Club, has sold the intellectual property rights for its Moonbirds NFT collection to Orange Cap Games. This divestment, occurring just over a year after Yuga Labs acquired Moonbirds, underscores a broader trend of major players refocusing on core assets amidst evolving market dynamics.

Yuga Labs' Strategic Refocus

Yuga Labs' decision to sell Moonbirds, Mythics, and Oddities IP to Orange Cap Games is part of a larger strategy to streamline its operations and concentrate on its flagship projects, primarily the Bored Ape Yacht Club ecosystem and its Otherside metaverse. This marks the third major NFT IP sale by Yuga Labs in 2025, following the divestment of CryptoPunks and Meebits earlier in the year.

• Yuga Labs aims to double down on its core initiatives, including the Bored Ape Yacht Club and Otherside metaverse.

• The sale of Moonbirds follows previous divestments of CryptoPunks and Meebits IP.

• Moonbirds characters will continue to be featured in Yuga's Otherside metaverse, ensuring some continuity.

Orange Cap Games Expands NFT Gaming Portfolio

Orange Cap Games, a relatively new entrant in the blockchain gaming sector, has aggressively expanded its IP portfolio with the acquisition of Moonbirds. Known for its hybrid approach to physical and digital experiences, the studio recently launched a trading card game based on Pudgy Penguins. While specific plans for Moonbirds remain undisclosed, the acquisition signals Orange Cap Games' ambition to solidify its presence in the NFT-powered gaming space.

Moonbirds' Journey and Market Impact

Launched in April 2022, Moonbirds initially saw immense success, generating over $280 million in transactions during its first weekend. However, the subsequent downturn in the NFT market led to a decline in community engagement and momentum. Yuga Labs acquired Moonbirds in early 2024 as part of a broader purchase of creator Proof, aiming to revitalize the project. The recent sale to Orange Cap Games has already had a notable impact on the collection's floor price, which more than tripled to 0.9 ETH following the announcement, though still significantly below its all-time high of 38.5 ETH.

Evolving NFT Market Landscape

The sale of Moonbirds IP by Yuga Labs reflects a broader trend of realignment and strategic consolidation within the NFT market. As major players like Yuga Labs refine their focus, other companies like Orange Cap Games are stepping in to innovate and breathe new life into established NFT brands. This shift comes as the NFT market shows signs of recovery, with unique NFT buyers increasing by 50% in May and trading volumes rising by 15% from April. The industry continues to evolve, with new partnerships and initiatives, such as Disney's collaboration with Dapper Labs for a digital loyalty program, indicating a renewed interest in digital collectibles.

Sources

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

• 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.

• Yuga Labs sells Moonbirds NFT collection to Orange Cap Games, Cointelegraph.

• Yuga Labs Sells Moonbirds IP To Orange Cap Games In Ongoing Strategic Shift - EGamers.io, eGamers.io.