Orange Cap Games Acquires Moonbirds IP From Yuga Labs

Crypto gaming startup Orange Cap Games (OCG) has acquired the intellectual property for the Ethereum-based NFT collections Moonbirds, Mythics, and Oddities from Yuga Labs, the company announced on May 30.

Contents

Orange Cap Games Acquires Moonbirds IP From Yuga Labs Continuing IP Sale Trend NFT Market Shows Signs of Renewed Interest

Yuga Labs co-founder Greg Solano stated the decision positions Moonbirds for better success, citing OCG’s “whole world” dedication to birds. He further noted Yuga is “laser-focused” on its core collections, including Bored Apes, Mutant Apes, and its metaverse project Otherside.

As part of the deal, new on-chain Moonbirds assets will continue to be hosted on Ethereum or Yuga’s layer-2 network, ApeChain, and the project remains scheduled to launch on Otherside.

The acquisition price remains undisclosed. CoinGecko data shows the Moonbirds floor price spiked to 0.9 ETH following the news, a tripling from recent levels, though still down approximately 98% from their record high in April 2022.

Continuing IP Sale Trend

This marks another installment in Yuga Labs’ ongoing strategy of divesting intellectual property:

February saw Yuga acquire the collections they managed IP for by taking over PROOF studio.
Earlier in May, the pioneering CryptoPunks NFT collection IP was sold to the Infinite Node Foundation.
In February, the Meebits IP was transferred to The Meebit Company, with Yuga retaining a minority stake.
Yuga has previously sold IPs for its HV-MTL and Legends of the Mara games.

Meanwhile, major players continue entering the NFT space. On May 30, Disney partnered with NBA Top Shot creators Dapper Labs to launch a digital collectibles program for Disney+ subscribers.