Orange Cap Games Acquires Moonbirds NFT IP from Yuga Labs
Yuga Labs has sold the Moonbirds NFT collection to Orange Cap Games, marking a significant shift in the ownership of one of the most well-known art projects in Web3. The deal includes the collections of Moonbirds, Mythics, and Curiosities, and represents a new direction for both companies. According to reports, Yuga Labs acquired Moonbirds by purchasing Proof Collective in 2024, only to sell the project less than two years later.
The acquisition is seen as a strategic move by Orange Cap Games to expand its portfolio of NFT brands. The company, known for establishing the Vibe TCG Trading Card ecosystem, plans to activate new experiences around the Moonbirds collection. Orange Cap Games has emphasized a product-first approach, with new on-chain components of Moonbirds to be hosted on either Ethereum Mainnet or Apechain, the Layer-2 blockchain developed by Yuga Labs.
Orange Cap Games’ strategy behind the Moonbirds acquisition is to provide a new trajectory for the dormant community through product-controlled development, focusing on games, collectibles, and culture. The company plans to integrate Moonbirds into its gaming universe and potentially release new products under the brand. With this acquisition, Orange Cap Games expands its portfolio by gaining access to another top-tier NFT brand with strong cultural relevance.
Background and Context
Moonbirds was initially launched in April 2022 and generated over $280 million in primary and secondary trading volume within the first few weeks, according to Coingecko. The project was known for its unique blend of imaging art visualizations and membership benefits. However, the brand’s direction became increasingly uncertain amidst a market downturn by mid-2023.
Industry analysts have identified a trend among top NFT companies towards consolidation and strategic reassignment of assets. As market volumes decline and the term of market hype begins to wear off, key players are shifting towards long-term brand development and slimmer operational models. By transferring Moonbirds to Orange Cap Games, Yuga Labs appears to be reducing internal overhead while enabling interoperability via Apechain and support within other metaverse projects.
Implications and Future Developments
The acquisition of Moonbirds by Orange Cap Games marks a significant shift in the NFT market, with top companies focusing on strategic consolidation and brand development. As the NFT market continues to evolve, it is likely that we will see more acquisitions and partnerships among key players. Orange Cap Games’ plans to engage the Moonbirds community and release new developments are expected to be closely watched by industry observers.
No financial details about the acquisition have been publicly disclosed. Orange Cap Games now holds full creative rights and sales control over Moonbirds and all associated sub-collections. The next phase of updates from Orange Cap Games is expected as the company begins to engage the Moonbirds community and release new developments.
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