Yuga Labs Acquires PROOF: Expands NFT Portfolio

Yuga Labs expands it’s NFT portfolio by acquiring Web3 project PROOF, alongside notable projects like Bored Ape Yacht Club and CryptoPunks.

According to press information shared with the media, Yuga Labs has bought the Web3 project PROOF. Bored Ape Yacht Club, Mutant Ape Yacht Club, CryptoPunnks, Meebits, TwelveFold, Otherdeeds, and many more NFT projects are already part of the company’s vast portfolio.

Adding Moonbirds, the top NFT project at PROOF, to Otherside, Yuga Labs’ metaverse project, is in the works. The exhibition series Grails, Oddities, Mythics, and PROOF Collective will also be part of Yuga Labs’s portfolio.

In a statement released on Friday, Yuga Labs stated that their acquisition of PROOF’s assets—including its personnel, intellectual property, and artistic portfolio—is in line with their ambition to become the front door of web3.

In response to the news, Yuga Labs CEO Daniel Alegre stated that the purchase of PROOF exemplifies the firm’s dedication to promoting blockchain-based art, culture, and community.

There are a lot of shared brand aspects between Moonbirds and Otherside, and the collection has a lot of promise. Alegre expressed excitement about including PROOF Collective into their continuing initiatives to engage the community through art.

In addition to several significant positions at Yuga, the release states that Kevin Rose, CEO and founder of PROOF, will become an advisor to Yuga Labs after the transition is completed.

It has been assigned to Josh Ong, Jesse Bryan, and Amanda Gadbow to supervise the transfer of the Moonbirds collection and other important components into the Yuga environment.

According to Kevin Rose, his company’s NFT collectors will be well-served by the transfer to Otherside. We can innovate more quickly and reach more people with our combined resources, and the PROOF Collective’s involvement demonstrates Yuga’s dedication to digital fine art. “The journey is going to be exciting,” Rose exclaimed.