Yuga Labs, the creator of the Bored Ape Yacht Club, has sold the Moonbirds NFT intellectual property to Orange Cap Games. This move is part of Yuga Labs' ongoing strategy to divest non-core assets and refocus on its primary projects, including the Bored Ape Yacht Club and the Otherside metaverse. The sale marks the third major IP divestment by Yuga Labs this year.
Key Takeaways
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Yuga Labs sold the Moonbirds NFT IP to Orange Cap Games as part of its strategy to refocus on core projects like Bored Ape Yacht Club and Otherside.
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This is Yuga Labs' third major NFT IP sale in 2025, following CryptoPunks and Meebits.
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Orange Cap Games aims to integrate Moonbirds into its growing portfolio of NFT-powered gaming experiences.
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The financial terms of the deal were not disclosed.
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Moonbirds characters will still appear in Yuga Labs' Otherside metaverse.
Yuga Labs' Strategic Shift
Yuga Labs has been actively streamlining its portfolio, selling off several acquired NFT IPs to concentrate on its flagship Bored Ape Yacht Club ecosystem and the Otherside metaverse. This latest sale of Moonbirds IP to Orange Cap Games follows earlier divestments of CryptoPunks and Meebits, signaling a clear shift away from diversifying within NFTs.
Moonbirds' Journey and Future
Originally launched in April 2022 by Proof, Moonbirds quickly gained traction, generating over $280 million in sales during its initial weekend. Yuga Labs acquired Moonbirds in early 2024 as part of a broader purchase of Proof. However, with the recent sale to Orange Cap Games, Moonbirds enters a new chapter. While Orange Cap Games has not yet revealed detailed plans, they have indicated that future on-chain components of Moonbirds will likely reside on Ethereum's mainnet or Yuga's affiliated ApeChain. Notably, Moonbirds characters are still expected to be featured in Yuga's Otherside metaverse.
Orange Cap Games' Growing Ambition
Orange Cap Games, a relatively new entrant in the blockchain gaming market, is rapidly expanding its IP portfolio. Known for its hybrid approach to physical and digital experiences, the studio recently launched a trading card game based on Pudgy Penguins. The acquisition of Moonbirds underscores Orange Cap Games' ambition to solidify its presence in the NFT-powered gaming space and breathe new life into established NFT brands. Yuga Labs co-founder Greg Solano expressed confidence in Orange Cap Games' ability to help Moonbirds reach its full potential.
NFT Market Dynamics
The sale of Moonbirds IP reflects the evolving landscape of the NFT market. After a period of intense speculation and high trading volumes in 2022, the market has seen a significant downturn. This has prompted major players like Yuga Labs to re-evaluate their strategies, leading to a trend of acquisition or realignment around core assets. Companies like Orange Cap Games are now stepping in to revitalize classic NFT brands, betting on their creative and technical prowess to re-engage the audience in this dynamic digital environment.
Sources
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Moonbirds NFT IP Boldly Sold By Bored Ape Creator To Gaming Startup, TronWeekly.
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Bored Apes-creator Yuga Labs unloads Moonbirds as IP selloff continues, The Block.
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News Explorer — Yuga Labs Just Sold the Moonbirds NFT IP, Just a Year After Buying It, Decrypt.
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Bored Ape Yacht Club Maker Sells Moonbirds IP to Gaming Startup, Decrypt.
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Yuga Labs sells Moonbirds NFT collection to Orange Cap Games, Cointelegraph.
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