In October 2023, Yuga Labs completed the sale of Moonbirds intellectual property to Orange Cap Games, marking another strategic divestment by the NFT pioneer.
Transfer of Moonbirds IP
Yuga Labs, known for its Bored Ape Yacht Club, has divested the Moonbirds NFT intellectual property to Orange Cap Games. This move signifies a continued strategy to refocus Yuga’s assets. Orange Cap Games expressed interest in integrating the Moonbirds IP into their gaming ecosystem.
Moonbirds Floor Price Surge Amid Speculation
The transaction has caused the Moonbirds floor price to jump significantly, indicating speculative interest. Analysts suggest the shift could alter the NFT ecosystem, influencing asset dynamics on Ethereum.
Yuga Labs' Consistency in Asset Management Strategies
Yuga Labs' current divestiture mirrors its earlier sales of CryptoPunks and Meebits IPs. This strategic asset management highlights its focus on consolidating core projects amidst a competitive NFT sector. Yuga Labs conveyed that 'the divestment of Moonbirds and other IP aligns with our strategic priority to focus on core products and strengthen our position in the NFT marketplace.'
The successful sale of Moonbirds IP to Orange Cap Games highlights genuine changes in Yuga Labs' asset management strategies and may lead to significant implications for the broader NFT market.
