Yuga Labs Just Bought Moonbirds (But Was It a Good Idea?)
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Talking of BAYC…keep in mind again in 2012 when Fb acquired Instagram?
One thing related simply occurred within the NFT house.
(Sounds bizarre, however hear us out.)
Yuga Labs (the corporate behind NFT tasks like Bored Ape Yacht Membership) simply acquired Proof Collective (who created the Moonbirds NFT challenge).
“So what? Acquisitions occur on a regular basis!”
Which is true, however it is a huge acquisition. Not essentially in monetary phrases (it is perhaps, we don’t know), however when it comes to what it may imply for the NFT business as an entire.
See, Yuga Labs is type of like ‘the Fb of NFT corporations.’ There are tons of NFT tasks, similar to there have been tons of social networks vying for the highest spot (shoutout to Tom from MySpace) — however Yuga has created probably the most profitable one up to now, with Bored Ape Yacht Membership.
Then they began the acquisitions…
First with Meebits and CryptoPunks, now with Moonbirds.
Right here’s our take:
It’s not the acquisitions that matter, however what you do with them that counts. And we get it — beginning a local Web3 firm is arduous! It takes time.
Yuga Labs have been engaged on their ‘Otherside’ metaverse for the previous few years, and are quickly releasing the Otherside metaverse recreation (which is able to embody characters from all of their portfolio NFT collections).
This launch would be the deciding second on whether or not or not all of this time, cash, and arduous work has been price it.
We’ve our fingers, toes, and eyes crossed, hoping it’s!
